Hugh, a self-employed individual, paid the following amounts during the year: real estate tax on iowa residence: 3,800state income tax: 1,700real estate taxes on land in puerto rico (held as an investment): 1,100gift tax paid on gift to daughter: 1,200state sales taxes: 1,750state occupational license fee: 300property tax on value of his automobile (used 100% for business): 475what is the maximum amount hugh can claim as taxes in itemizing deductions from agi? (a) $6,600(b) $6,650(c) $7,850(d) $8,625(e) none of the above

Which of the following statements is correct? a) one drawback of forming a corporation is that it generally subjects the firm to additional regulationsb) one drawback of forming a corporation is that it subjects the firms investors to increased personal liabilitiesc) one drawback of forming a corporation is that it makes it more difficult for the firm to raise capitald) one advantage of forming a corporation is that it subjects the firm's investors to fewer taxese) one disadvantage of forming a corporation is that it is more difficult for the firm's investors to transfer their ownership interests

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u.s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.