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The following taxes are deductible as itemized deductions with the exception of

Which of the following is most likely not considered a casualty?

On August 1 of this year, Sharon, a cash-method taxpayer, signs a lease for office space and begins business. The lease is for 3 years. At the time the lease is signed, Sharon pays the $12,600 rent for the entire 36-month lease term. How much can Sharon deduct this year?

During the year, Mark reports $90,000 of active business income from his law practice. He also owns two passive activities. From Activity A, he earns $20,000 of income, and from Activity B, he incurs a $30,000 loss. As a result, Mark

During the year Jason and Kristi, cash-basis taxpayers, paid the following taxes:State gift tax$1,000Property tax on home in the United States4,100State income tax (withholdings)3,000Estimated federal income tax4,500Estimated state income tax (paid by check)800Special assessment by city for sidewalks and street lighting on their street2,000How much of the above tax payments qualify as an itemized deduction for taxes on their federal income tax return?

Deductions for adjusted gross income include the amounts paid for all of the following except

Jimmy owns a trucking business. During the current year he incurred the following:Gasoline and oil$100,000Maintenance$15,000Fines for speeding $8,000Bribes to government inspection officials$21,000The fines for speeding were a necessary cost because missing deadlines would cause lost business and are ordinary in the industry. What is the total amount of deductible expenses?

A two-sided coin is labeled heads and tails and a 6-sided die is labeled with numbers one through six. What is the probability of landing the coin on heads and the die on the number 5?

Whenever there was a convenient goosepond on the way to school, the children of less than one hundred years ago used to stop there to hunt for goose quills. They carried these to the teacher, and with his penknife—which took its name from the work it did—he cut them into the shape of pens. The points soon wore out, and “Teacher, will you please mend my pen?” was a frequent request.   When people began to make pens of steel, they made them as nearly like quill pens as possible, with pen and holder all in one. These were called “barrel pens.” They were stiff, hard, and expensive, especially as the whole thing was useless as soon as the pen was worn out, but they were highly esteemed because they lasted longer than quills and did not have to be mended. After a while, separate pens were manufactured that could be slipped into a holder; and one improvement after another followed until little by little the cheap, convenient writing tool that we have to-day was produced.   This passage is primarily concerned with describing:

(1) If you are a citizen of the United States, you will likely be called to serve on a jury at some point. A jury is a group of ordinary citizens, randomly selected from a list of registered voters and drivers, who listen to a court case and decide which side wins.   (2) The courts officially call this responsibility “jury service,” and it is an opportunity to serve your country. Many agree that it is important for ordinary citizens to be part of the court system because citizens must have a voice in a democracy. Because the government wants citizens to serve, it won’t allow your boss to penalize you if you must miss work for jury service. In addition, the government even pays you for the days you serve.   (3) However, people often call this responsibility “jury duty.” It is something you are required to do and it can present difficulties. Even though you are allowed to be away from your job, you may be responsible for the work you missed. For parents who stay home with young children, there is the complication of needing childcare. Some think that the payment (anywhere from two to 50 dollars per day, depending on the state) is not enough to make jury duty worth the hassle.   (4) Whether citizens view being a juror as an opportunity or an inconvenience, one day you will probably be called to serve. Since it is a crime to avoid serving on a jury, you might as well enjoy learning about the court system.   Paragraph 2 of the selection is mainly concerned with which of the following?