please explian how to calculate depreciation for federal income taxes what method do I use thanks :)

41,426 results
  1. Math

    Depreciation is the decrease or loss in value of an item due to age, wear, or market conditions. We usually consider depreciation on expensive items like cars. Businesses use depreciation as a loss when calculating their income and taxes. One company buys

  2. Math

    Calculate S(17) for the geometric series 256 - 128 + 64 - 32 + ... using the finite geometric sum formula. Round your answer to three decimal places. 170.668 0.004 511.996 168,151.254 Find a(5) for the geometric sequence in which S(6) = 63 and the common

  3. Principles of Finance HELP!!!

    Problem 16-7. Pro forma income statement At the end of last year, Roberts Inc. reported the following income statement (in millions of dollars): Sales 3000 Operating costs excluding depreciation 2450 EBITDA 550 Depreciation 250 EBIT 300 Interest 125 EBT

  4. math

    US Airways has a net income of $60,000 before taxes. It's expected that 45% of the net income will go federal and state taxes. How much will US Airways have left?

  5. College Math

    Brandywine Homecare, a not for hire business, had revenues of $12 million in 2011. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was $1.5 million. All revenues were collected in cash during the yar and all

  6. Economics

    Personal consumption expenditures $245 Net foreign factor income 4 Transfer payments 12 Rents 14 Statistical discrepancy 8 Consumption of fixed capital (depreciation) 27 Social Security contributions 20 Interest 13 Proprietors’ income 33 Net Exports 11

  7. Financing and Budget

    Which of the following taxes must be paid only by the employer? A. Federal income B. FICA C. Federal unemployment D. State C.

  8. ECONOMICS

    Suppose you are a typical person in the U.S. economy. You pay 4 percent of your income in state income tax and 15.3 percent of your labor earnings in federal payroll taxes (employer and employee shares combined). You also pay federal income taxes as in

  9. Fiance

    Use your knowledge of income statements to fill in the missing items: Sales Cost of goods sold $575,000 Gross profit $1,600,000 General and administrative expense $200,000 Selling and marketing expense $ Depreciation $50,000 Operating income $ Interest

  10. Math

    When calculating his income tax an accountant realized that his federal tax was 40% of his income after his provincial tax was paid, and that his provincial tax was 25% of his income after his federal tax was paid. If the accountant's income before taxes

  11. Economics

    VERY HARD PLEASE HELP Kristin lives in Alaska. Ben lives in Rhode Island. They each drive a car with a 12-gallon fuel tank. When Kristin fills her empty gas tank in Alaska, she has to pay a federal gasoline tax of $.18 (or 18 cents) per gallon, plus a

  12. Economics

    Compensation of employees $194.2 US exports of goods and services 17.8 Consumption of fixed capital (depreciation) 11.8 Government purchases 59.4 Taxes on production and imports 14.4 Gross private domestic investment 63.9 Transfer payments 13.9 US imports

  13. Economics

    Mallory's total income last year was $24,000, but she could deduct $12,000 for various reasons. Her taxable income equals the amount left over after deductions. If she had to pay 15 percent of her taxable income in federal income tax, which you can

  14. Finance

    P5. Use your knowledge of income statements to fill in the missing items: SALES - $------ COST OF GOODS SOLD - $575,000 GROSS PROFIT - $1,600,000 GENERAL AND ADMINISTRATIVE EXPENSE - $200,000 SELLING AND MARKETING EXPENSE - $------ DEPRECIATION - $50,000

  15. Economics

    Some people would prefer a single income tax rate because it? A) would increase the government’s revenue. B) is easier to calculate. C) would reduce the percent of income poorer families pay in income taxes. D)means everyone would pay the same income

  16. finance

    Assuming a tax rate of 35%, depreciation expenses of $1,000,000 will reduce income by 350,000 reduce taxes by 350,000 reduce taxes by 650,000 have no effect on income or taxes, since depreciation is not a cash expense

  17. Accounting

    Aunt Rhea Corporation Income Statement For the Year Ended December 31, 2015 Service Revenue $ 900,000 Operating Expenses 700,000 Net Income before Income Tax $ 200,000 Gain on Investment Sale 10,000 Net income Before Income Taxes $ 210,000 Income Tax

  18. Social Studies 8

    1. for the additional green spaces to be considered public services, what must be true? A. The local government uses tax money to create them B. a national business provides funding for some of the spaces C. people who purchased season passes to the spaces

  19. MicroEconomics

    You are a typical person in the US economy. You pay 4 percent of your income in a state income tax and 15.3 percent of your labor earnings in federal payroll taxes (employer and employees share combined) You also pay federal income taxes 15%. How much tax

  20. accounting

    Assets Cash (Net Effect) $35,000 20,000 +15,000 A/R 33,000 14,000 +19,000 Merchandise Inventory 27,000 20,000 +7,000 PPE 60,000 78,000 -18,000 Accumulated Depreciation (29,000) (24,000) ? Liabilities and Stockholder’s Equity Accounts payable 29,000

  21. Acc/Federal Taxxtion

    During the current year, Deborah Baronne, a single individual, paid the following amounts: Federal income tax $10,000 State income tax $4,000 Real estate taxes on land in France $1,500 Real estate taxes on land in U.S. $1,700 State sales taxes $2,000 State

  22. Financial accounting

    What does rule of thumb evaluation method mean? no matter how many times i read this, I get different answers..and how would I calculate this or what is the formula for the rule of thumb evaluation method??? I am supposed to compute this example: Arcadia

  23. finance

    Mary Watson is 24 years old and single, lives in an apartment, and has no dependents. Last year she earned $45,000 as a sales assistant for Focused Business Analytics: $3,910 of her wages was withheld for federal income taxes. In addition, she had interest

  24. Social Studies

    Which of these is not a source of state and local tax revenue? payroll taxes property taxes sales taxes income taxes D?

  25. investing

    . Jamie Thompson is thinking about investing in some residential income-producing property that she can purchase for $200,000. Jamie can either pay cash for the full amount of the property or put up $50,000 of her own money and borrow the remaining

  26. accounting

    How depreciation and amortization affect the income statement and the profitability of the company as well as its affect on the income taxes a company pays. Also the advantages of an accelerated method of depreciation and how that affects net income, the

  27. accounting

    Complete the work sheet. In completing the worksheet, compute State of Illinois corporate income taxes at 41/2% of pretax income. The state income tax is deductible on the federal tax return, and the federal tax is not deductible on the Illinois return.

  28. Principles of Macroeconomics

    Which of the following is the largest source of funds for the federal government? I am thinking either (B) OR (D) a. property taxes b. borrowing c. excise taxes d. income taxes e. tariffs

  29. accounting

    Sherrod, Inc., reported pretax accounting income of $89 million for 2006. The following information relates to differences between pretax accounting income and taxable income: Income from installment sales of properties included in pretax accounting income

  30. accounting

    Ayres Services acquired an asset for $80 million in 2011. The asset is depreciated for financial reporting purposes over four years on a straight-line basis (no residual value). For tax purposes the asset's cost is depreciated by MACRS. The enacted tax

  31. check american government

    Why does the Constitution allow the Federal Government to levy taxes?The Constitution restricted the ablility of the Feds to tax and specifically forbids direct taxes like income tax, social security taxes and other payroll deductions. It was changed by

  32. Civics

    Explain how federal income taxes support the economy and benefit the common good. I have to have at least one well-developed paragraph, and this question is worth 10 points which is why I need help!!

  33. social studies

    1) What is one source of revenue for the federal government to pay for public goods and services? a. Sales taxes b. Excise taxes c. Income taxes ** d. Property taxes

  34. Economics

    This data given: GDP=$110; Income earned by citizens abroad=$5; income foreigners earn here=$15; loss from depreciation=$4; indirect business taxes=$6; business subsidies=$2; retained earnings=$5; corporate income taxes=$6; social insurance

  35. financial accounting

    Zumbrunn Company’s income statement contained the condensed information below. ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2015 Service revenue $969,400 Operating expenses, excluding depreciation $624,480 Depreciation expense 59,260

  36. Finance

    Company reported $9,000 of sales, $6,000 of operation costs other than depreciation, and $1,500 of depreciation. The company had no amortization charges and no non-operation income. It had issued $4,000 of bonds that carry a 7% interest rate, and its

  37. Two Multiple Choice American Government Questions

    The chief way the federal government raises revenue is from borrowing money foreign aid individual income taxes corporate taxes This concept means that the total federal budget changes only a little from one year to the next. reconciliation fiscal policy

  38. accounting

    Marina Sailboats reports income before income taxes of $80,000 during 20x7. If beginning inventory was overstated by $7,000 and ending inventory was understated by $8,000, calculate corrected income before income taxes for the year. (Show your work.)

  39. child care

    which of the following taxes must be paid only by the employer? A Federal income B State C Federal unemployment D Fica Thanks

  40. Civics

    What is the major difference between the revenues and expenditures of state and local governments and the revenues and expenditures of the federal government? A. Unlike state and local governments, the federal government does not receive payroll taxes and

  41. Economics

    1) In which of the following situations would someone have to pay a gift tax? A. A relative dies and leaves you $13,000 in the will. B. Your cousin gives you a car worth $1,700. C. Your grandmother gives you $13,000 toward college.

  42. math

    please check my answers below and correct me if i am wrong please 1. At Lexi Corp., sales revenue is $20 million, the cost of goods sold is $14 million, operating expenses are $3 million, and income taxes are $1 million. What is the company's operating

  43. math (statistics)

    The following table shows the percentage of individuals in each age group who use an online tax program to prepare their federal income tax return. AGE ONLINE TAX PROGRAM (%) 18-34 16 35-44 12 45-54 10 55-64 8 65+ 2 Suppose a follow-up study consisting of

  44. Texas Government

    According to the text, what is the current combined state and local sales tax rate in Texas? a. Texas has no state tax rate; only local rates apply. b. 2% c. 6.25% d. 8.25% A is the correct answer? Since in the text it says Texans pay only federal income

  45. SS

    Suppose that people in your community voted to eliminate all taxes. Which of these goods and services would most likely disappear? A. interstate highway maintenance B. neighborhood trash pickup C. regional military base D. grocery store parking lots B What

  46. Business Math

    (DEPRECIATION SCHEDULE A) A. A $1200 postage printing system depreciated using the straight-line method over 4-years. In your depreciation schedule, give the following information for each year: 1.The year's depreciation 2.The accumulated depreciation

  47. economics GNP

    Given the following hypothetical data (in millions of naira): 1. gross private domestic investment N59 2. contributors for social insurance N8 3. interest paid by customers N3 4. personal consumption expenditures N206 5. transfer payments N20 6.

  48. Pasadena City College

    The second proposal we’ll consider is a modified flat-tax plan, where everyone only pays taxes on any income over $20,000. So, everyone in group A will pay no taxes. Everyone in group B will pay taxes only on $9,000. Determine the total taxable income

  49. algebra

    In a certain state, people with an income under $15K pay a minimum income tax plus a % of the amount over $12,750.00. The table below shows the income, x, and the taxes paid; y for several people. Using a a linear model, what is the additional % people pay

  50. Math calculate depreciation

    please explian how to calculate depreciation for federal income taxes what method do I use thanks :)

  51. Math

    What is the method used to calculate depreciation for federal income taxes(USA)?

  52. Please Help

    The method used to calculate depreciation for federal income tax purposes is ?

  53. Social studies-Unit 6 :building on Economics Basic

    2. What is one source of revenue for the federal government to pay for public goods and services? A - property taxes B- sales taxes C- income taxes D- excise taxes I think it's c ! 3. What is one the things the federal reserve system does? A- set income

  54. Public Finance

    A worker lives in a state that has its own income tax. The worker is in the 31 percent federal tax bracket. In addition, he is subject to a 9 percent MTR for his state income tax. Assume that mortgage interest is deductible both on his federal and state

  55. public finance

    A worker lives in a state that has its own income tax. The worker is in the 31 percent federal tax bracket. In addition, he is subject to a 9 percent MTR for his state income tax. Assume that mortgage interest is deductible both on his federal and state

  56. social studies

    americans pay many different types of taxes to federal, state, and local governments. Choose the best example of a tax that we do NOT pay in the U.S.? A.payroll taxes B.value-added taxes C.sales taxes D.income taxes

  57. SS

    Which of these is a source of only federal tax revenue payroll taxes? A. Payroll taxes B. Property taxes C. Sales taxes D. Income taxes I think it could be A, I don't really know.

  58. Math

    Could some one please explian how to do this problem thanks :) A company purchased an air conditioning system for $10,200. The shipping charges on the system were $875, and the set up cost were $1,250,The system is expected to last for five years and has a

  59. Math

    1. For a particular year, a company has gross annual income of $780,000, annual expenses of $270,000, and allowed depreciation of $60,000. The company is located in a state where the first $200,000 corporate income is tax-free, and any income above that is

  60. Finance

    Madison Metals recently reported $9,000 of sales, $6,000 of operating costs other than depreciation, and $1,500 of depreciation. The company had no amortization charges and no non-operating income. It had issued $4,000 of bonds that carry a 7% interest

  61. finance

    jeanette owns a rental property that she used for 20 days and rented for 80 days. The rental income was $10,000 and expenses included the following, mortage interest 2500,property tax $1500, insurance and repairs $1000 and depreciation $2000. Calculate net

  62. Fundamentals of finance

    "Genatron wants to estimate what will happen to its income before interest and taxes if its net sales change from the 2012 level of $1,500,000. Refer to Genatron’s 2012 income statement below, where the income before interest and taxes is $247,000 (EBT

  63. Fundamentals of finance

    "Genatron wants to estimate what will happen to its income before interest and taxes if its net sales change from the 2012 level of $1,500,000. Refer to Genatron’s 2012 income statement below, where the income before interest and taxes is $247,000 (EBT

  64. Financing and Budget

    Which of the following taxes must be paid only by the employer? A. Federal income B. FICA C. Federal unemployment D. State C.

  65. Math

    The method used to calulate depreciation for federal tax purposes is the ? Is it the declining balance method

  66. accounting

    There is also a lot of companies that report their federal taxes using the accrual basis and their state taxes on the cash method. Why do you think a company would want to do this?

  67. tax problem

    Can someone please help me with the following question. I really don't know where to start. -In 2006, Jack and Jill Money had AGI of $275,750 and taxable income of $175,000. They have three children, all of whom qualify for the dependency exemption. They

  68. income tax

    can someone please help me with this assignment? I don't know what to do Jeanette owns a rental property that she used for 20 days and rented for 80 days. The rental income was $10,000 and expenses included the following; mortgage interest $2,500; property

  69. tax intro

    Jeanette owns a rental property that she used for 20 days and rented for 80 days. The rental income was $10,000 and expenses included the following; mortgage interest $2,500; property tax $1,500; insurance and repairs $1,000 and depreciation $2,000.

  70. help

    Jeanette owns a rental property that she used for 20 days and rented for 80 days. The rental income was $10,000 and expenses included the following; mortgage interest $2,500; property tax $1,500; insurance and repairs $1,000 and depreciation $2,000.

  71. income tax

    Jeanette owns a rental property that she used for 20 days and rented for 80 days. The rental income was $10,000 and expenses included the following; mortgage interest $2,500; property tax $1,500; insurance and repairs $1,000 and depreciation $2,000.

  72. Economicsquiz soon! HELP!!!...

    I don't get when to use the 7.65% and then the 1.45% How do you calculate the following below...given: number of hours worked-952 Hourly pay- $120.50 ______________________________ A. Gross pay for the year B. FICA Taxes C. Federal Income Tax D. Net Pay

  73. Economics

    I don't get when to use the 7.65% and then the 1.45% How do you calculate the following below...given: number of hours worked-952 Hourly pay- $120.50 ______________________________ A. Gross pay for the year B. FICA Taxes C. Federal Income Tax D. Net Pay

  74. chid

    In preparing a budget for a day care center, you must plan for taxes. As an employer, you must pay part of each employee’s _______ tax. A. Social Security C. state income B. federal income D. local

  75. child

    In preparing a budget for a day care center, you must plan for taxes. As an employer, you must pay part of each employee’s _______ tax. A. Social Security C. state income B. federal income D. local

  76. math

    income is subject to federal taxes

  77. introduction to finance

    mary watson is 24 years old and single, lives in an apartment, and has no dependents. Last year she earned $45,000 as a sales assistant for focused business analytics: $3,910 of her wages was withheld for federal income taxes. In addition, she had interest

  78. government(taxes)

    I am looking for a list of California state taxes. So far this all I have: 1) Sales Tax 2) Trash tax 3) Electricity tax 4) State income tax 5) Gasoline tax 6) Property tax 7) Federal telephone excise tax 8) Excise tax 9) social security tax 10)

  79. American history

    Which of the following was a contributing factor to the economic crisis of 2008? A. balanced budget and decreased federal deficits B. lower taxes and more disposable income for families C. indiscriminate and risky banking practices D. increased federal

  80. Financing and Budget

    In preparing a budget for a day care center, you must plan for taxes. As an employer, you must pay part of each employee's---- tax. A.Social Security B.federal income C. state income D. local My answer is A.Can someone check this answer for me.

  81. Government

    Why does the Constitution allow the Federal Government to levy taxes? I'm not quite sure as to why but would the answer be that the Constitution allows the federal government to levy taxes because of Congress?

  82. Economics

    The marginal tax rate is defined as the extra taxes paid on additional income divided by the increase in income. Calculate the marginal tax rate for the proportional tax system as income rises from $50,000 to $100,000. Calculate the marginal tax rate as

  83. Finance and Economics

    Calculate the NPV of the cash flows expected in 2006-2010 using only the 2005 Cost of Capital (don’t worry about increasing costs of capital). Calculate the NPV of the cash flows using the CASH FLOW figures at the bottom of the spreadsheet, these are the

  84. Social Studies

    Which of these is not a source of state and local tax revenue? payroll taxes property taxes sales taxes income taxes D?

  85. economics

    Local governments receive money from what two kinds of taxes A sales and income taxes B luxury and property taxes C income and luxury taxes D sales and property taxes?

  86. math

    Lucy earns $326.87 each week. The federal government withholds 18% of that for federal income tax. How much is withheld from her pay annually for federal income tax?

  87. Math

    You make $22.50/hr and work 38 hours each week. You are paid weekly. Taxes are Federal (25%), FICA (7.65%), and State (3%). What is your Gross income on your next paycheck? $550.19 $855.00 $304.81 Flag this Question Question 4 1 pts You make $22.50/hr and

  88. math

    income 1000 2000 3000 taxes 200 350 450 what percentage of income is paid in taxes at each level?

  89. College Algebra

    If 24% of your monthly pay is withheld for federal income taxes and another 6% is withheld for Social Security, state income tax, and other miscellaneous items, leaving you with $989.50 a month in take-home pay, then the amount you earned before the

  90. College Algebra

    If 24% of your monthly pay is withheld for federal income taxes and another 6% is withheld for Social Security, state income tax, and other miscellaneous items, leaving you with $989.50 a month in take-home pay, then the amount you earned before the

  91. College Algebra

    If 24% of your monthly pay is withheld for federal income taxes and another 6% is withheld for Social Security, state income tax, and other miscellaneous items, leaving you with $989.50 a month in take-home pay, then the amount you earned before the

  92. Everest

    Jamie is thinking about investing in some residential income producing property that she can purchase for $200,000. Jamie can either pay cash for the full amount of the property or put up %50,000 of her own money and borrow the remaining %150,000 at 8%

  93. math

    In accounting, what is the form that accompanies an employer's payment of social security, Medicare, and employee's federal income taxes?

  94. math

    Jamie Thompson is thinking about investing in some residential income-producing property that she can purchase for $200,000. Jamie can either pay cash for the full amount of the property or put up $50,000 of her own money and borrow the remaining $150,000

  95. Finance

    2. Jamie Thompson is thinking about investing in some residential income-producing property that she can purchase for $200,000. Jamie can either pay cash for the full amount of the property or put up $50,000 of her own money and borrow the remaining

  96. fundamentals of accounting 1

    journalizing payroll transactions, for Keller Systems;Inc, paid cash for april's payroll tax liability. withheld taxes from april payrolls; employee income tax,$532.00; social security tax,$634.88; and medicare tax,$148.48. paid cash for semimonthly

  97. Math

    Geraldine made $140,143.11 in Employment income last year. She had investment income of $12,383.19 and dividend income of $4,230.12. How much income tax (include both federal and provincial) did she have to pay if she lives in Ontario? Federal Rates: 15%

  98. Economics

    (Value in billions of dollars) Consumption = 140 Business fixed and residential investment = 27 Inventory stock at the end of 2003 = 10 Inventory stock at the end of 2004 = 5 Depreciation = 12 Government outlays = 80 Government purchases = 65 Total

  99. College Algebra

    If 24% of your monthly pay is withheld for federal income taxes and another 6% is withheld for Social Security, state income tax, and other miscellaneous items, leaving you with $989.50 a month in take-home pay, then the amount you earned before the

  100. Accounting

    Use the following information to answer questions 5-7. Blue Bird Bus Company is suffering declining sales of its principal product, school buses. The bank has threatened to call due a note if the company’s net income declines next year. The president,

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