17.doc TAX QUESTION

17.doc TAX QUESTION - 17. In 2004 alva received dividends...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
17. In 2004 alva received dividends on her stocks as follows Amur corporation (French corp whose stock is traded on an established us securities market - 55,000 Blaze inc, deleware 25,000 Grape in virgina 12,000 Alva opurchased the frappe stock four years ago and she purchased the amur stock two years ago. She puyrchased the blaze stock 15 days before it went ex-dividend and sold it 20 day s later at a 22000 loss. Alva had no other capital faines and losses for the year. She is in the 35% marginal tax bracket. Compute alva tax on her dividend income for 2004. Chpt5 2. Linda operates a drug running operations. Which of the following expnses she incurs can reduce taxable income? a. bribes paid out to border gaurds b. salaries to employess c. price paid for drugs purchased for resale d. kickbacks to police e. rent on an office f/ depreciation on office furniture and equipment g. tenants casualty insurance 4. QUAIL CORPORATION ANITCIPATES THAT BEING positively precieved by the indidual who is elected mayor will be beneficial for business. Therefore quail
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/10/2008 for the course ACCY 171 taught by Professor Crow during the Fall '08 term at S. Alabama.

Ask a homework question - tutors are online