Question

Which of the following is an example of a post-tax mandated deduction? Charitable contributions Tax liens...

Which of the following is an example of a post-tax mandated deduction?

  • Charitable contributions
  • Tax liens
  • Credit card liens
  • Garnishments

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Which of the following does not accuratetly describe the charitable contributions deduction of a trust or...
Which of the following does not accuratetly describe the charitable contributions deduction of a trust or estate computed on Schedule A of Form 1041? A. A trust or estate is limited to a maximum charitable contribution deduction of o morw than 50% of the trust or estate's adjusted gross income . B. A deducible charitable contribution must be authorized pursuant to the terms of the governig instrument for the trust or estate. C. A deductible contribution must be made from...
What do you say? Should the US limit the tax deduction for charitable contributions? Why or...
What do you say? Should the US limit the tax deduction for charitable contributions? Why or why not?
Why would the head of organisations dependent on charitable contributions, argue that giving to charity should...
Why would the head of organisations dependent on charitable contributions, argue that giving to charity should be treated as a deduction and not a tax credit?
1. The deduction for cash charitable contributions is limited to twenty-five percent of the taxpayer’s AGI....
1. The deduction for cash charitable contributions is limited to twenty-five percent of the taxpayer’s AGI. True or False 2. The objective of the medical expense deduction is to reduce the after-tax cost of medical treatment for all taxpayers, even for those taxpayers with little medical expense. True or False
Which of the following is not an itemized deduction? a. Deduction for qualified business income. b....
Which of the following is not an itemized deduction? a. Deduction for qualified business income. b. Medical expenses. c. State income taxes. d. Charitable contributions. e. None of the choices are correct.
Which of the following is TRUE regarding the charitable contribution itemized deduction (ignore any AGI maximums)?...
Which of the following is TRUE regarding the charitable contribution itemized deduction (ignore any AGI maximums)? Frank is allowed to deduct the $100 he gave to a needy person begging outside the grocery store. Joe donated land he has owed for several years to a qualified charity (registered with the IRS).  Joe is allowed to take a charitable contribution deduction in the amount of the current value of the land, even though his cost is less than its current value. Armondo...
Hannah makes the following charitable contributions during the year: Basis FMV Inventory held for resale in...
Hannah makes the following charitable contributions during the year: Basis FMV Inventory held for resale in her business (a sole proprietorship) $8,000 $7,200 Stock in HBM, Inc., held as an investment (purchased four years ago) 16,000 40,000 Baseball card collection held as an investment (acquired six years ago) 4,000 20,000 The HBM stock and the inventory were given to Hannah’s church (qualifying organization), and the baseball card collection was given to the United Way (a qualifying charity). Both donees promptly...
Marco, a calendar-year taxpayer, made the following charitable contributions in the current year: Cash to the...
Marco, a calendar-year taxpayer, made the following charitable contributions in the current year: Cash to the church $5,000 FMV; Unimproved land (with cost basis of $30,000) to the local college $70,000 FMV. The land had been held as an investment by Marco for 5 years. If Marco's AGI is $120,000 and if he wants to maximize his charitable contribution deduction in the current year, what is Marco's maximum allowable charitable contribution deduction for the current year? A) $35,000 B) $41,000...
Question 1 1 pts Which of the following is the 2013 standard deduction for head of...
Question 1 1 pts Which of the following is the 2013 standard deduction for head of household? Group of answer choices $15,000 $12,200 $8,950 $6,100 Flag this Question Question 2 1 pts Which of the following is the 2013 standard deduction for married taxpayers filing jointly? Group of answer choices $15,000 $12,200 $8,950 $6,100 Flag this Question Question 3 1 pts Which of the following is a deduction for adjusted gross income, or AGI? Group of answer choices medical expenses...
For 2018, Sleevo Shirt Corporation had taxable income before the charitable contributions deduction of $10,000 and...
For 2018, Sleevo Shirt Corporation had taxable income before the charitable contributions deduction of $10,000 and charitable contributions of $15,000. Sleevo Shirt Corporation may deduct what amount of charitable contributions? a.$0 b.$10,000 c.$1,000 d.$15,000 Kathy and Irene form Wintercrest Corporation. Kathy contributed cash of $10,000 in exchange for 100 shares of Wintercrest stock. Irene contributed property with a fair market value of $14,000, adjusted basis of $7,000, and subject to a recourse debt of $4,000 which the corporation assumed, for...