Answer:
<u>No</u> because the decline in value of her residence <u>does not</u> meet the "sudden, unexpected, and unusual, progressive deterioration" requirement for a casualty loss.
Explanation:
Terrah's house suffered no actual damage because of a recent forest fire in the area where she lives. Terrah cannot take a casualty loss for the decline in value of her residence caused by the fire as the decline in value of her residence dose not meet the "sudden, unexpected, and unusual, progressive deterioration" requirement for a casualty loss.
Final answer:
<u>No</u> because the decline in value of her residence <u>does not</u> meet the "sudden, unexpected, and unusual, progressive deterioration" requirement for a casualty loss.
True, the direct write-off method is used for tax purposes but is generally not permitted for financial reporting.
Direct write-off method occur when account receivable uncollectible are written or recorded as bad debt and this occur when the money a company is expecting to receive from their customers or clients are uncollectible because the customer did not pay.
Direct write-off method is used for tax purposes because bad debt expense is recorded based on uncollectible amount which is the amount a company is not expecting to receive from their debtors.
This method is not in accordance with the Generally accepted accounting principles which is why it is generally not permitted for financial reporting.
Inconclusion True, the direct write-off method is used for tax purposes but is generally not permitted for financial reporting.
Learn more about direct write-off method here:brainly.com/question/12419642
Answer:
women were not much of tamers, they were treated as animals themselves. They worked in the fields and in the home with the children and chores
Answer:
$10,000
Explanation:
Given that:
McLin holds $90,000 of AEP, this implies what is salary is made of;
Tobias, the sole shareholder, has an adjusted basis of $80,000 in his stock.
Tobias is paid a $90,000 salary income.
Ignore the 20% QBID
We are to determine the tax aspects of the transactions
Since the company receives a $90000 for salary expense. Thus Tobias basis is zero, then :
The tax aspect of the transaction is : ($90000 - $80000)
The tax aspect of the transaction = $10,000
Answer:
C)
Explanation:
Based on the information provided within the question in this case Rochelle does not have a claim for sexual harassment because her claim would be based on one isolated incident that is not serious enough to warrant undue concern. This is the case since Henry has not made a single advancement towards Rochelle since she declined his date.