Week 4 assignment tax credits Chapter 9 problem 42 Tim and Martha paid $7,900 in qualified employment-related expenses for their young children who live with them in their household. Martha received $1,800 of dependent care assistance from her employer, which was properly excluded from gross income. The couple had $57,000 of AGI earned equally by Tim and Martha. What amount of child and dependent care tax credit can they claim on their form 1040? How would your answer differ (if at all) if the couple had AGI of $36,000 that was earned entirely byTim ?
Suburbs Friends of ours, Dan and Heather, built a house in a small town about 35 kilometres from Lethbridge, AB. Their home cost $320,000 – about $100,000 less than a similar home in Lethbridge – and their lot is twice the size. Heather works in town, and Dan works in Lethbridge. His drive to the office takes about 35 minutes each way. Between his daily commute, and their trips into Lethbridge for grocery shopping and entertainment, they spend $550 a month on gas.
She has saved £1,000 to invest in her business venture. Zorina is an extrovert, knows lots of people in her area as her parents run various local businesses – she is studying Business Studies at A level and is very interested in marketing. She has £100 saved to invest in the venture, but she has recently bought a van. Both girls hope to start their degrees next October and need the business to be successful to help finance their university fees and living expenses. They will still live with their parents initially.
At that time "footwear in the US is a 40 billion dollar market and 5% of that is already being sold by paper mail order catalogs," Hsieh and Lin decided to invest $500,000 through their investment firm Venture Frogs. The company was officially launched in June 1999, under the original domain name "ShoeSite.com". A few months after their launch, the company changed their name from ShoeSite to Zappos (a variation of "zapatos," the Spanish word for "shoes") not to limit themselves to selling only footwear. After minimal gross sales in 1999, Zappos revenue in 2000 was $1.6 million. In 2001, Zappos more than quadrupled their yearly sales, bringing in $8.6 million.
We will put down $3000 each and the rest will be donations from friends and family. Our fixed assets are for continuing use, which is, office space, airline discounts and other fixed assets like office equipments and accessories and utility bills like electricity. Our variable costs will change because of the different activities of the business dealing with labor and advertising. Below we have our cash flow projection for the next five years. We estimated how many customers we need to breakeven each year.
2. Harley purchased $15,000 of equipment for cash. 3. Harley paid $500 cash to rent space for the first month of operations. 4.
She would move heaven and earth to see to it that they get a college education, heaven forbid they ever have to struggle financially, like she did. When a Time-Share company called Dream Scheme, Inc. opened its corporate headquarters just a couple of miles down the road she applied for a job there, along with most of the other 1000 or so residents of the surrounding counties, most of whom had been unemployed, on government assistance, or working for minimum wage… all barely scraping by as she had been. She was hired along with 50 others including her best friend, to work in sales, and within a year, another 50 or so had been hired. She had worked very hard to prove herself and had just received a promotion and a raise -- $80,000 annually in her new position as Executive Assistant to the CEO and owner of the company... … That would be Norm, a charismatic leader, who despite the current economy had grown his company by leaps and bounds within the first year there, selling over 5000 time-shares throughout the US. Not only did Norm know how to sell; he knew how to teach and motivate people to sell which, in the natural order of things, all leads to big money… jobs, a major boon to the prior economical deathbed of this tiny beach town.
|Name: Lauren Reed |Date: 3/31/15 | Graded Assignment Practice: The Loan Ranger Answer the following questions based on what you have learned. You may need to search for an online loan calculator to answer the questions. (10 points) |Score | | | 1. The owners of a successful restaurant want a loan for $50,000 to renovate the kitchen and expand the dining room. They expect that the extra tables will add between $2,000 and $5,000 to the restaurant’s monthly revenue.
Based on the assumptions contained in this plan, I estimate that the businesses will break-even in its first year of operations. Cash Flow Statement As the owner of Chagadama Christian Bookstore, I will invest $60,000. This money will be used to cover startup costs of $12,725 and initial operating costs. Fixed costs are limited to our office space and equipment lease at $1,800 per month, which includes a 1,000 square foot store on Main Street, a telephone system, and two photocopiers. As continued positive cash flows permit, the amounts I invested will be repaid.
All he’s going to do is send a crew in to handle the new contract, continue doing his other jobs, and after paying the employees he’s going to keep $2500 a week, just off the contract job. If I supply the equipment for the new contract he’ll split the profit 50/50 with me for the next 2 years. I go to his house to take a look at the contract and get an estimate of how much I needed to invest and / or what equipment is needed. 4 ladders, 2 sprayers, 1 air compressor, 1