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What is the amount of income that will be allocated to each partner using the details below?

July 13, 2010 By: admin Category: General

A and B are partners. at the beginning of the current year, A's capital account is $30000, and B's is $50000. A and B decided to allocate income with 10% interest on capital balances at the beginning of the period and divide the balance equally. Net income for the current year is $80000. Each partner withdrew $150000 for personal use during the year. What is the amount of income that will be allocated to each partner?

what is the income you have to be below in order not to file taxes?

July 12, 2010 By: admin Category: General

my mom gets her social security check plus 2 others. her and my dad never had to file income taxes cause their income was too low. i just need to reck hers and make sure she doesnt need to file income tax. my dad died last year.