Clampett, Inc., has been an S corporation since its inception. On July 15, 2020, Clampett, Inc., distributed $51,000 to J. D. His basis in his Clampett, Inc., stock on January 1, 2020, was $46,500. For 2020, J. D. was allocated $11,500 of ordinary income from Clampett, Inc., and no separately stated items. What is J. D.'s basis in his Clampett, Inc., stock after all transactions in 2020? a. $40,000.
b. $21,000.
c. $2,000.
d. $14,000.
e. None of the choices are correct.

One cost-of-living indicator available on the internet shows that a salary of $40,000 in santa barbara, california, is equivalent to $14,000 in wichita, kansas. this is primarily because of housing, which is much less expensive in wichita. what does this difference say about how the federal government calculates poverty?

How should the environmental effects be dealt with when evaluating this project? the environmental effects should be ignored since the plant is legal without mitigation. the environmental effects should be treated as a sunk cost and therefore ignored. if the utility mitigates for the environmental effects, the project is not acceptable. however, before the company chooses to do the project without mitigation, it needs to make sure that any costs of "ill will" for not mitigating for the environmental effects have been considered in the original analysis. the environmental effects should be treated as a remote possibility and should only be considered at the time in which they actually occur. the environmental effects if not mitigated would result in additional cash flows. therefore, since the plant is legal without mitigation, there are no benefits to performing a "no mitigation" analysis.

When signing a lease for a retail space, it's important to make sure the lease has a clause, which releases the tenant from the lease if sales don't reach an agreed-upon amount.