Cortez, inc., reports $1,196,300 of pretax book net income in 2019. cortez’s book depreciation exceeds tax depreciation that year by $42,725. the corporation reports no other temporary or permanent book-tax differences. cortez’s pertinent u. s. tax rate is 21%, and cortez earns an after-tax rate of return on capital of 8%. if required, round your computations to the nearest dollar. for 2019, compute the following for cortez, inc. a. current income tax expense $ b. deferred income tax expense $ c. total income tax expense $

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.

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?

After hearing a knock at your front door, you are surprised to see the prize patrol from a large, well-known magazine subscription company. it has arrived with the good news that you are the big winner, having won $21 million. you have three options.(a) receive $1.05 million per year for the next 20 years.(b) have $8.25 million today.(c) have $2.25 million today and receive $750,000 for each of the next 20 years.your financial adviser tells you that it is reasonable to expect to earn 13 percent on investments.