Question

Please help me out using these notes
2 questions

thanks!!


BRAINLIEST AVAILABLE

more than 1 answer





( i think its 1. & 5.)

Answer 1

Problem One

1: True partners are called members

2: True too. There is only limited liability

3: False: LLCs are not a separate Tax Entity

4: True. It's not in your notes, but members are not held responsible for the criminal acts of an LLC

5: True Members are taxed on their own tax returns.

1 2 4 and 5 are all true. Only 3 is false.

Problem Two

Inflation shows up very slowly and then takes hold with a vengeance. I would say we are currently in an inflation spiral but it is just starting. Just ask your mum about food prices (or your dad about overall cost of living).

The first thing the government must do is take action when they see something happening. They can do one of two things: the can cut expenditures or raise taxes. They can do the former anytime, the latter will take time to happen.

I think the second step is to gear down manufacturing beginning in January.

Producers know that they should manufacture less because consumers will have less money, but when to start doing that is the question. March or April is when the Tax Payer notices the tax increase.

Inflation will decrease is the last step. But this is an iffy question. The second and third steps could be interchanged. The way I have written it is the way I would have answered it, but I can't be certain.

Answer 2

Answer: 1, 2, & 5

1. TRUE

• LLC owners are known as members.
• LLCs can be organized by a single member or multiple members.
• A series LLC is a complex group of linked companies.

2. TRUE

• One of the advantages of an LLC is to protect its owners from personal liability.
• Members do not have to give up their personal assets to cover debts or other liabilities incurred by the business

3. False

• An LLC is NOT considered a separate tax entity.
• The LLC is taxed through its members

4. False

• Members are exempt from wrongful acts committed by someone else but NOT EXEMPT from wrongful acts they personally commit

5. TRUE

• The members show revenue earned through the LLC on their personal federal tax returns.

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Cause (of inflation)

1. Economy grows at a rapid rate
2. People have more money so they spend more money
3. More goods being sold means a higher demand on products
4. When demands of a product exceed production capabilities, the cost of goods increase.
5. Inflation occurs

Contractionary Fiscal Policy (to control inflation)

1. Government increases taxes to control the supply of money
2. Higher taxes means less money to spend on goods.
3. Fewer purchases on goods means manufacturers can produce less.
4. Inflation decreases