Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 3 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 14 Aug 2017 My Price 10.00

marginal tax rate

Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 30 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem):

a. What is the amount and character of Hart’s recognized gain if the asset is tangible personal property sold for $450,000? What effect does the sale have on Hart’s tax liability for the year?

b. What is the amount and character of Hart’s recognized gain if the asset is tangible personal property sold for $550,000? What effect does the sale have on Hart’s tax liability for the year

c. What is the amount and character of Hart’s recognized gain if the asset is tangible personal property sold for $350,000? What effect does the sale have on Hart’s tax liability for the year?

d. What is the amount and character of Hart’s recognized gain if the asset is a non-residential building sold for $450,000? What effect does the sale have on Hart’s tax liability for the year?

e. Now assume that Hart is a corporation. What is the amount and character of its recognized gain if the asset is a nonresidential building sold for $450,000? What effect does the sale have on Hart’s tax liability for the year (assume the same 30 percent marginal tax rate)?

f. Now assuming that the asset is real property, which entity type should be used to minimize the taxes paid on real estate gains?

Answers

Maurice Tutor
(5)
Status NEW Posted 14 Aug 2017 12:08 PM My Price 10.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)
Relevent Questions