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1 year ago

Do business trust income tax on income according to the conduit principle

Business

1 answer:

Orlov [11]1 year ago

3 0

Answer:

Yes, the grantor pays the taxes on the income that comes from the trust. They have complete control of the trust. Money is then placed into the trust, the rate it accumulates at is taxable as income to mostly the trust.

<em>Hope it helps.</em>

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A taxpayer, age 64, purchases an annuity from an insurance company for $62,000. She is to receive $517 per month for life. Her l

Ber [7]

Answer:

$3,220.90

Explanation:

Expected Return = $517 * 12 months * 20.8 years

Expected Return = $129,043.20

Exclusion Percentage = $62,000/ $129,043.20

Exclusion Percentage = 0.4804593

Exclusion Percentage = 48.05%

Exclusion amount = $6,200 * 48.05%

Exclusion amount = $2,979.1

Amount included in Income = $6,200 - $2,979.1

Amount included in Income = $3,220.90

5 0

2 years ago

Athena Jolene, a human resources executive at Thomas Griffith, wants to collect ideas from the company's employees for an upcomi

gregori [183]

Answer:

B) discussion forum

Explanation:

A discussion forum is an online tool where people can post messages and everyone with access to the forum can read what is been shared, give answers and post new content. Because of this, the forum will be the technique that will best help Athena receive suggestions from employees, while also allowing employees to share their ideas with one another. Instant messaging, texting and emailing won't allow the interaction between several people discussing ideas that the forum can provide.

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2 years ago

johnson company calculates its allowance for uncollectible accounts as 15% of its ending balance in gross accounts receivable. t

Alexus [3.1K]

Gross accounts receivable 12/31/2020= $16000/ 15% = $106,667

Accounts written off = $16000 - (- $29300) = $45,300

bad debt expense direct method = $45,300

Debt is a duty that calls for one birthday celebration, the debtor, to pay cash or another agreed-upon cost to every other party, the creditor. Debt is a deferred payment, or collection of payments, which differentiates it from a direct purchase. The debt may be owed via a sovereign kingdom or USA, nearby government, business enterprise, or person. Industrial debt is normally concerned to contractual phrases regarding the amount and timing of repayments of major and hobby. Loans, bonds, notes, and mortgages are all sorts of debt. In economic accounting, debt is a kind of financial transaction, as wonderful from fairness. The time period also can be used metaphorically to cowl moral obligations and different interactions no longer based totally on a monetary cost. For instance, in Western cultures, someone who has been helped by using a second person is occasionally said to owe a "debt of gratitude" to the second individual.

Learn more about debt here

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8 0

5 months ago

The slope of a cost function can be defined as

garri49 [273]

Answer:

rgrbrgg35t54tgt

Explanation:

3 0

2 years ago

Which of the following is an example of structural control? a.Monitoring the administrative ratio to make sure staff expenses do

nirvana33 [79]

Answer: (A) Monitoring the administrative ratio to make sure staff expenses do not become excessive

Explanation:

The structural control is one of the concept that helps in monitoring the main building block in an organizational structure and managing all the functions such as design of an organization, performance, goals and the requirement within an organizational structure.

According to the question, the structural control is one of the process of monitoring the main administrative ratio so that the staff expenses are not becoming more excessive and serving only on the basis of important purpose and requirement.

Therefore, Option (A) is correct answer.

6 0

2 years ago