Business Law

1. In 2011 through 2014, Korey, who is single, borrowed a total of $25,000 for higher education expenses on qualified […]

Nancy, who is 59 years old, is the beneficiary of a $200,000 life insurance policy. What amount of the insurance

Determine the amount of taxable income that should be reported by a cash-basis taxpayer in 2015 in each of the

1. Graciela, who is single, reported itemized deductions of $6,300 on her 2014tax return. Her itemized deductions included $200 of

1. Jennifer and Paul, who file a joint return, have taxable income of $93,425 and the following tax liability: $18,450

1. In 2005, Matthew purchased land for $97,000 for use in his business. He sold it in 2015 for $103,000.

1. On May 5, 2010, Jill purchased equipment (7-year property) for $40,000 to be used in her business. She did

In 2015, the president of the United States declared a federal disaster due to brush fires in the Southwest. Lisa

1. For 2015, the deduction by a taxpayer for investment interest expense is a. Not limited. b. Limited to the

1. Which expense, incurred and paid in 2015, can be claimed as a miscellaneous itemized deduction subject to the 2%