The Office of Personnel Management (OPM) denied him six months of benefits after the year he had made the additional money that disqualified him for the benefits. The Merit Systems Protection Board (MSPB) denied his petition for review claiming that the advice he had received from OPM would allow them to deny his benefits under this regulation. Key Legal Issues Charles appealed the denial of his benefits to the MSPB, and claimed that he had been given the wrong information from the specialist. The MSPB board denied his claim and said he should have reached out to the proper officials to get the right information. Basically the MSPB put the ball back in Charles Richmond ballpark saying he should have known better.
In 2013 the couple sold their house for $500,000 and bought a new house for $700,000 in cash. When they sold their house they paid 6% to the real estate agent which in total was $30,000 in fees. They file jointly and had joint ownership of the sold property. Research Issue Is the sale of the home in 2013 made by Mr. Junkiewicz and his wife a taxable transaction? Law and Analysis The taxpayer relief act of 1997 exempted from taxation the profits on the sale of a personal residence of up to $500,000 for married couples filing jointly and $250,000 for singles.
https://hwguiders.com/downloads/acct-324-final-exam-solution ACCT 324 Final Exam Solution Question 1. (TCOs 2 & 3) Evelyn sold her personal residence to Drew on March 1 for $300,000. Before the sale, Evelyn paid the real estate taxes of $3,000 for the calendar year. For income tax purposes, the real estate tax deduction is apportioned as follows: $750 to Evelyn and $2,250 to Drew. Drew’s basis in the residence is: Question 2.
Question 25 Ruby sells her car to Bob. She fails to tell him that the car has been previously wrecked, even though he had asked if it had ever been involved in a collision. If Bob later learns that the car was almost totaled six months prior to the sale and wants to rescind the contract, what would be his best defense to the enforceability of the contract? Question 26 An uncle, in writing, promised his nephew $5,000 if his nephew would refrain from drinking, using tobacco, swearing, and playing cards or billiards for money until the age of twenty¬one, all of which was otherwise legal for the nephew to do at the time. The nephew performed as requested.
Superannuation guarantee amount paid by her employer - Current balance is $225,000 invested in a balanced fund earning 5.5% p.a. - Considering retiring in two years - to spend more time at home and in her garden with her grandchildren - Has life and total and permanent disability insurance within her super Eddie: - Repair and Maintenance work. - Earns $30,000 from contract work, also earns $15,000 from personal work - Will stop doing contract work when Gail retires, will only do the repair and maintenance work for long-standing clients. - Wants to travel around Australia when Gail retires - They will need $35,000 for a camper van, and $40,000 for a new, powerful car to pull it - $285,000 super in a balanced fund earning 5% p.a. and the contractor makes contributions into it each year.
ACCT 324 Final Exam Solution https://hwguiders.com/downloads/acct-324-final-exam-solution/ ACCT 324 Final Exam Solution Question 1. (TCOs 2 & 3) Evelyn sold her personal residence to Drew on March 1 for $300,000. Before the sale, Evelyn paid the real estate taxes of $3,000 for the calendar year. For income tax purposes, the real estate tax deduction is apportioned as follows: $750 to Evelyn and $2,250 to Drew. Drew’s basis in the residence is: Question 2.
Armstrong’s failures to meet their obligation gives GCI three options: they may reject the entire shipment of goods, accept the shipment of goods as is, or accept any number of commercial units and reject the rest of the goods, (Melvin 2011, pg. 192). One right that is available to Armstrong is referred to as the cure. The cure is the UCC’s way of promoting the completion of an original contract. It would allow Armstrong (the seller) the right or opportunity to repair or replace any goods that the buyer (GCI) has rejected as long as the time period for performance has not
BIS 155 Lab 6 of 7: Day Care Center Purchase here http://chosecourses.com/BIS%20155/bis-155-lab-6-of-7-day-care-center Product Description Your friend, Jane Morales, is considering opening a Day Care Center. She has started compiling her assumptions and putting together an Income Statement. She has determined that she must make at least $75,000 profit per year in order to start the business. She has asked you to analyze her Income Statement and help her determine whether it is viable for her to start this business. You have agreed to help her complete her Income Statement and to perform What-If analysis to help her look at her potential profitability.
(Military.com, 2012). Individuals can exclude up to $250,000 in profit from the sale of a main home (or $500,000 for a married couple) as long as you have owned the home and lived in the home for a minimum of two years. (About.com,
40 miles * 16.5¢/mile=$6.60 per trip * 3 trips/wk=$19.80/wk * 52wks/yr=$1029.60 per year in tax deductible transportation costs. 52. On April 1, 2010, Paul sold a house to Amy. The property tax on the house, which is based on a calendar year, was due September 1, 2010. Amy paid the full amount of property tax of $2,500.