Louis spent $200 playing bingo at his church. Since the profits went to the church, Louis can deduct $200 as a charitable contribution. True False

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Q: What is Reg D?

A: Regulation D (Reg D): It may be a Securities and Exchange Commission (SEC) law confining exceptions…

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Q: Question 25

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A: The international financial reporting standard 9 is generally specifying how a particular…

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A: It shows the income generated by the company.

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A: Macroeconomics is the study of how the economy behaves in broad outline. It is largely concerned…

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A: Given, Market Price = $21

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Q: All of problems 3

A:

Q: Jane Evans receives payments of $900 at the beginning of each month from a earned by the fund is…

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A: It is abbreviated as Employee Stock Ownership Plan is defined as a plan that gives the workers a…

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A: Modigliani and Miller’s approach is an element of economic theory and it forms the basis for modern…

Q: 17. What are the key features of ERISA?

A: The Employee Retirement Income Security Act of 1974 (ERISA) is a federal statute that provides basic…

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A: Accounting: Accounting refers to the information system, where the economic activities of a…

Q: 1. Descibe JIT production and its features.

A: Just in time production represents the reduction in labor, material, and time so that the cost could…

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A: Weighted average cost of capital (WACC) is used as a hurdle rate for evaluating capital investment…

Q: WHat ia 2 plus 2

A: Answer:

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.