The itemized deduction for state and local taxes in 2019 is a. Total taxes less 10 percent
Question:
The itemized deduction for state and local taxes in 2019 is
a. Total taxes less 10 percent of AGI
b. Limited to no more than $10,000
c. Unlimited
d. Only deductible if the taxes are business related
e. Deductible if your home value is less than $750,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (10 reviews)
b Limi...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
Question Posted:
Students also viewed these Business questions
-
The itemized deduction for state and local in taxes in 2018 is a. Total taxes less 7.5% of AGI b. Limited to no more than $10,000 c. Unlimited d. Only deductible if the taxes are business related e....
-
Myrna and Geoffrey filed a joint tax return in 2018. Their AGI was $85,000, and itemized deductions were $24,700, which included $7,000 in state income tax and no other state or local taxes. In 2019,...
-
Myrna and Geoffrey filed a joint tax return in 2018. Their AGI was $85,000, and itemized deductions were $24,700, which included $7,000 in state income tax and no other state or local taxes. In 2019,...
-
A double-ended queue or deque (pronounced "deck") is a collection that is a combination of a stack and a queue. Write a class Deque that uses a linked list to implement the following API: public...
-
Explain how groups develop. Trace the development of a group in which you have participated.
-
Sale of Equipment was acquired at the beginning of the year at a cost of $ 4 0 , 2 5 0 . The equipment was depreciated using the double - declining - balance method based on an estimated useful life...
-
Prove that for a European Call option on an asset that pays no dividends the following relations hold: \[C \leq S, \quad C \geq S-E \exp (-r(T-t))\]
-
The following information was taken from the records of Vega SA for the year 2019: income tax applicable to income from continuing operations R$119,000, income tax applicable to loss on discontinued...
-
could you identify 3 different consumer focused potential hypothesis that the client can be facing the managerial problem and could you turn these 3 hypothesis into 3 consumer focused research...
-
The data related to JK company is given below: Income tax payable $61,250 $17,500 $24,400 $5,000 $4,320 $6,000 Allowance for doubtful accounts Accounts payable Interest receivable Unearned revenue...
-
Antonio is a small business owner and files jointly with his spouse. In 2019, he generates $100,000 of net profits from his business. His spouse, Maria, has $4,000 of state income tax withheld from...
-
Which of the following is deductible as interest on Schedule A? a. Fees for having the homes value assessed by the bank for purposes of getting a mortgage b. Fees for having a new home inspected...
-
Prepare any journal entries based on the following data regarding the bank reconciliation prepared by Washington & Leigh Company on July 31, 2009. a. A customer's check for $260 was returned with the...
-
Why do accountants have to make these allowances?
-
At the beginning of the financial year on 1 April 2017, a company had a balance on plant account of 372,000 and on provision for depreciation of plant account of 205,400. The company's policy is to...
-
(a) Distinguish between capital and revenue expenditure. (b) Drake Ltd took delivery of a computer network on 1 July 2016, the beginning of its financial year. The list price of the equipment was...
-
A business had always made an allowance for doubtful debts at the rate of 3 per cent of accounts receivable. On 1 January 2015 the amount for this, brought forward from the previous year, was 400....
-
(A) Explain why a provision may be made for doubtful debts. (B) Explain the procedure to be followed when a customer whose debt has been written-off as bad subsequently pays the amount originally...
-
From its first day of operations to December 31, 2017, Campbell Corporation provided for uncollectible accounts receivable under the allowance method: entries for bad debt expense were made monthly...
-
Prove that the mean heat capacities C P H and C P S are inherently positive, whether T > T 0 or T < T 0 . Explain why they are well defined for T = T 0 .
-
1.Which of the following items retains its character when passed through to share-holders of an S corporation? a. Wages paid b. Accelerated depreciation c. Net long-term capital gains d. Advertising...
-
Quince Corporation has taxable income of $450,000 for its 2014 calendar tax year. Calculate the corporations income tax liability for 2014 before tax credits. $ ______________
-
Bill and Guilda each own 50 percent of the stock of Radiata Corporation, an S corporation. Guildas basis in her stock is $25,000. On July 31, 2014, Bill sells his stock, with a basis of $40,000, to...
-
During October 2 0 2 3 , Fern Field Farms, Inc. received $ 1 0 , 0 0 0 from customers in exchange for fruit and vegetables. During the same month, the company paid $ 2 , 0 0 0 to employees, $ 5 0 0...
-
Given data below answer the question. Cash Accounts receivable $ 10,200 Cash dividends 15,200 Consulting revenue Office supplies 3,550 Rent expense $ 2,340 15,200 3,910 Office equipment 18,310 Land...
-
Last year, a city had three school districts: North with a population of 5200 children, South with a population of 10600 children, West, with a population of 15100 children. Use Hamilton, Adams,...
Study smarter with the SolutionInn App