What is the gross profit?
What is the gross profit if a business has operating expenses fo $250 and sell goods for 1400$ that cost $1000Thanks!
Answers: Here, read this. I won't do your homework.
http://www.investopedia.com/terms/g/gros...
Its extraordinarily basic. tba
Gross profit = Sales - COGS (Cost of products sold)
Net Profit, (Before taxes) = Gross profit - expenses.
You do the math.
Income import tax: credit from another state?
Does anyone know exactly how to get this right? I work contained by NY and live in NJ. I lone pay excise in NY. I hold always used taxcut to claim tariff paid within NY in the NJ charge. But this year things are looking suspcious...1- what is the income I should use? Is it my state AGI or my state taxable income? More precisely, in my IT-2003 from NY, which pen to use for that?
2-For the tax compensated to the other state, I believe I simply use the box 17 on my W2 for NY.
3- Also, never before I have my W2 reporting NY and NJ with 2 diff values on box 16, state wages. This year I enjoy such scenario, and was told it is because of my 401k. Well, same company, and other contributed to 401K before, so afraid second few years will have to be amended.
4- When entering my taxes on the W2 session of the software, I assume immediately I have to enter one string for each state, right?
Thanks.
Answers: You report a "resident" state income tax contained by New Jersey, and a "non-resident" state income tax surrounded by New York. This is the way you should hold been file all along.
I don't know what due software you use, but in Turbo Tax, the interview asks "did you earn money surrounded by any other state" and then it will guide you through the different state income export tax forms (for a fee of course).
Can my boyfriend claim me on his taxes?
We live in Washington state, this is the first year contained by 14 years together that I have not worked (for the entire year) and we be wondering if he could legally claim me. We aren't finding any other information on it on the pattern. Thank you in credit.Answers: Maybe. You and had no income - that meet a couple of the rules. I assume he paid over partially of your support for he year, so that's another one. You said you've been together for 14 years - I assume that technique living together, so that's another one. But if your relationship violates any state or local ordinance, he can't claim you though whether the regulation is currently enforced or not - and believe it or not there are still lots places with law on the books beside laws against cohabitation by unmarried couples.
Yes, if ALL of the following test are met:
You lived with him ALL year.
You have less than $3,400 contained by gross income.
He provided more than half of your support for the entire year.
There is no local imperative against cohabitation, including one that is no longer enforced.
Only if you want to be married! He can directory married filing collectively and claim your exemption.
NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!
If you try it, in the IRS's eyes you'll be "properly married."
If you try to go put money on to your "single" status you better get a "legal" divorce.
I be a tax preparer (I've "married" several couples)
Only Boston's answer is right.
If you assemble the QR tests, you can be claimed as a dependent for the $3400 exemption amount.
You are NOT a qualify dependent for HOH.
Not unless you're married.