Referring to relevant statutory provisions and common law, discuss whether the following amounts would be as an allowable deduction against assessable income.   a) Provision of doubtful debts of $4,200 for a detective agency. b) Speeding fines of $ 700 paid by an owner to a driver. c) An amount of $1,000 paid to a solicitor for preparing a partnership deed. d) Travel cost of a business executive to attend a trade fair in Munich paid by the employer. e) Newspapers purchased by an accountant who advises clients on financial and investment matters.

Se.126.

1:An employer in The U.S. Virgin Islands employs two individuals, whose taxable earnings to date (prior to the current pay period) are $5,100 and $6,900. During the current pay period, these employees earn $1,800 and $2,850, respectively. The applicable SUTA tax rate is 4%, and the U.S. Virgin Islands SUTA threshold is $28,900. FUTA tax = $ SUTA tax = $ 2:An employer in Newark, New Jersey employs three individuals, whose taxable earnings to date (prior to the current pay period) are $28,700, $34,100, and $6,850. During the current pay period, these employees earn $3,800, $2,350, and $1,580, respectively. The applicable SUTA tax rate is 3.4%, and the New Jersey SUTA threshold is $36,200. FUTA tax = $ SUTA tax = $ 3:An employer in Cincinnatti, Ohio employs two individuals, whose taxable earnings to date (prior to the current pay period) are $4,900 and $7,700. During the current pay period, these employees earn $2,800 and $1,900, respectively. The applicable SUTA tax rate is 2.5%, and the…

GRADUATED TAX TABLE UNDER TRAIN LAW (January 1, 2018 to December 31, 2022) Over But not over The Tax shall be Plus Of Excess Over 250,000 250,000 400,000 20% 250,000 400,000 800,000 30,000 25% 400,000 800,000 2,000,000 130,000 30% 800,000 2,000,000 8,000,000 490,000 32% 2,000,000 8,000,000 2,410,000 35% 8,000,000