What happens to your tax liability with proper financial planning?You can________your tax liability through proper financial planning.

Answers

Answer 1

Answer:

Answer:

Minimize

Explanation:

The tax liability is the amount of money that an individual, an organization or an institution owes to the government, and has to pay for the profits he has made in the current year. Through proper planning you can minimize your tax liability, how´s this?, well you can buy things and declare them, or you can donate a certain amount of money to a charity tht you choose, in order to save some tax dollars or at least send them where you think they could serve better.

Answer 2

Answer:

You can minimize your tax liability through proper financial planning.

How can you minimize the tax liability ?

There are a number of deductions and credits that you may be eligible for, such as the mortgage interest deduction, the child tax credit, and the earned income tax credit.

You can reduce your tax liability by timing your income and expenses so that you have more deductions in one year and less deductions in another year.

There are a number of tax-advantaged accounts available, such as 401(k)s, IRAs, and HSAs. These accounts allow you to save money for retirement or other goals without having to pay taxes on your contributions or earnings.

Find out more on tax liability at brainly.com/question/16950901

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Before starting a business, many people find it useful to describe the way the company will operate in which of the following?A. Shares of stock B. Its advertisements C. Partnership contracts D. A business plan

Suppose taxpayers are given a one-time only rebate on previous taxes paid. If consumers spend all of their tax rebate checks, what takes place in the economy? A.

Aggregate demand shifts to the right.

B.

The LRAS curve shifts left.

C.

Aggregate demand shifts to the left.

D.

Inflation decreases.

Answers

Answer:

Aggregate demand shifts to the right.

Explanation:

Tax rebate means that the people have a tax benefit that increases their disposable income.

When there is additional income available for people to spend, there is an increased demand that shifts to the right the aggregate demand curve.

It is unconnected to the supply curve and inflation so the correct answer is option A.

Hope that helps.

When you gave your friend a fifty-dollar bill for an iPod, you used money as:A. a standard
B. store of value
C. medium of exchange
D. measure of value

Answers

Answer: Medium of exchange.

Explanation:

The $50 is given in exchange for an iPod, therefore in the question's illustration money serves as a medium of exchange. Money as a medium of exchange means that money is needed when conducting business transactions that involves buying and selling.

The system that maintains records of a company's operations and then communicates that information to decision makers is referred to as_______.

Answers

Answer:

Accounting

Explanation:

Accounting is the process of recording, measuring and presenting the fnancial information of a company. Accounting allows to understand and analyze the financial health of an organization and make the appropiate decisions based on that. Because of this, the answer is that the system that maintains records of a company's operations and then communicates that information to decision makers is referred to as accounting.

Nicolette Garrison works part-time at an independent record store. Whenever her friend, Jacob Barker, comes into the store during one of her shifts, he picks up a CD and brings it to the register where Nicolette is stationed. After ringing a "no sale" transaction on the cash register, Nicolette pretends to swipe Jacob's credit card for payment. She puts the CD in a bag and gives it to Jacob, who walks out without actually paying for the merchandise. What kind of scheme is being committed?a. Cash larceny
b. Sales skimming
c. Fake sale
d. False refund

Answers

c. Fake sale
there’s no other possible answer.

Barry and his wife Mary have accumulated over $6 million during their 50 years of marriage. They have six children and eight grandchildren. How much will Barry and Mary remove from their estate if they gift the maximum amount possible in 2013 to their children and grandchildren without incurring any gift tax liability?

Answers

Answer:

$84,000

Explanation:

Based on the scenario being described within the question it can be said that the maximum amount that they can gift would be $84,000. This is because the maximum that can be given in 2017 is $14,000 to any single individual. Therefore the maximum is calculated as the following = $14,000 × Number of children × Number of spouses giving gifts. Now we plug in the values from this situation:

=$14,000 × 3 × 2

=$84,000

Leaving us with a total gifting amount of $84,000

A way to account for petty cash by maintaining a constant balance in the petty cash account and which at any time requires that cash plus petty cash tickets must total the amount allocated to the petty cash fund, is known as the ________.

Answers

Answer:

Imprest system

Explanation:

An imprest system is an accounting system where a fixed amount is reserved which needs to be replenished when required after a period of time. The source of the replenishment will be from another source for example from a bank account.

The imprest system only allows a replenishment of the amount that has been spent. For example of a petty cash account has $500 and $300 was spent that month, at the end of the month the $300 spent will be replaced.

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