Homework Answers
1- She will qualify for EITS benefits when her annual income is $10,000.
2- The maximum benefit the single mother can receive is $5460.
3- When her annual income is approximately $30,000, her benefits will start to decline.
4- When her annual income is approzximately $50,000, she will no longer be eligible for EITC.
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8). Using the example of a single-mother with two children (the most common form of low-income...
7). The chart below illustrates the Earned Income Tax Credit (EITC) benefit received by different types...
7). The chart below illustrates the Earned Income Tax Credit (EITC) benefit received by different types of families at different levels of income. FIGURE 1 Value of federal Earned Income Tax Credit, 2014 The EITC increases as you earn more money up to a certain level, gradually decreases in value as you need it less, and varies based on one's income and number of dependents. Single: No children One child Two children Three or more children Married, filing jointly: No...
1). The retirement benefit of the Social Security program is considered a progressive benefit with a...
1). The retirement benefit of the Social Security program is
considered a progressive benefit with a regressive financing
scheme.
(1) How is the Social Security benefit progressive?
(2) How is its financing scheme regressive?
2). One of the main goals of the ACA (Patient Protection and
Affordable Care Act of 2010, aka Obamacare) was to provide
affordable health care to the uninsured.
1. What were the THREE primary pieces of the law that were meant to
provide coverage for everyone...
11 Lisa is single, age 40, with 2 children age 8 and 10 whom she supports...
11 Lisa is single, age 40, with 2 children age 8 and 10 whom she supports and who the with her full time She works at Arby's and earns $35,000 salary and has AGI of $35.000. She pays $3000 in the year for a babysitter. Which of the following is true? Select one or more: a. Lisa is entitled to a refund of her taxes for the Additional Child Credit, the Earned Income Credit and FICA taxes that were withheld....
1. Peter and Susan Dillon are married and have two children: Paul, age 22 and a...
1. Peter and Susan Dillon are married and have two children: Paul, age 22 and a full-time student during the entire year and Mary, age 18. Paul has $6,000 in taxable interest income and Mary has $5,000 in taxable dividend income. Peter and Susan provide over half of the support of both children, who live at home. Neither child is married. Which of the following statements is true? a. Paul qualifies as a dependent of the Dillons b. Mary qualifies...
8 Credits [1] If a taxpayer qualifies for the Earned Income Credit, such credit can be...
8 Credits [1] If a taxpayer qualifies for the Earned Income Credit, such credit can be subtracted from A. Gross income to arrive at adjusted gross income. B. Adjusted gross income to arrive at taxable income. C. The tax owed, or can result in a refund, but only if the taxpayer had tax withheld from wages. D. The tax owed, or can result in a refund, even if the taxpayer had no tax withheld from wages. [2] Which of the...
Compute the cost of a single preschool class and a single birthday party using the current...
Compute the cost of a single preschool class and a single
birthday party using the current cost system.
Introduction Tots R Us (TRU) had been running a small, for-profit preschool program for young children between the ages of two and four for several decades. TRU was one of several privately run programs in the suburban Boston area. For each of the three age groups i.e., two-, three- and four-year olds), there were two classes per day for a total of...
False 1. Pete and Shirley are filing a joint return. They have two dependent children. The...
False 1. Pete and Shirley are filing a joint return. They have two dependent children. The total amount of their exemptions for tax year 2019 is $16,800. 2. Bill and Martha are filing a joint return. They are both over 65 years old. Neither of them are blind. What is their standard deduction? $ 27000 A. $0 (Do not enter dollar signs, commas, periods, or decimal points in your answer.) 3. Sarah's divorce was finalized on March 4, 2019. As...
Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first...
Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first summer job. Even though his parents are claiming him as a dependent he wants to file a return in order to get his refund. He receives his W-2 and decides he can do his own return using form 1040-EZ. Which of the following information is not found on a Form W-2? a) The taxpayer’s Social Security number b) The taxpayer’s wages, tips and other...
Using the book, write another paragraph or two: write 170 words: Q: Compare the assumptions of...
Using the book, write another paragraph or two: write 170
words:
Q: Compare the assumptions of physician-centered and
collaborative communication. How is the caregiver’s role different
in each model? How is the patient’s role different?
Answer: Physical-centered communication involves the specialists
taking control of the conversation. They decide on the topics of
discussion and when to end the process. The patient responds to the
issues raised by the caregiver and acts accordingly. On the other
hand, Collaborative communication involves a...
I got stuck on these two steps, can someone help me ? ACCOUNTING CYCLE STEP 3:...
I got stuck on these two steps, can someone help me ?
ACCOUNTING CYCLE STEP 3: Post each trans me general ledger working papers provideo teach transaction in the general journal to the general ledger. Use s provided in your packet. Posting is the process of transferring general journal entry information to the seneral ledger. Fach number you post should be properly Cross-referenced Helpful Hints by: recording the general journal page number (ex. G1, G2, etc.) in the Posting Reference...
7). The chart below illustrates the Earned Income Tax Credit (EITC) benefit received by different types of families at different levels of income. FIGURE 1 Value of federal Earned Income Tax Credit, 2014 The EITC increases as you earn more money up to a certain level, gradually decreases in value as you need it less, and varies based on one's income and number of dependents. Single: No children One child Two children Three or more children Married, filing jointly: No...
1). The retirement benefit of the Social Security program is
considered a progressive benefit with a regressive financing
scheme.
(1) How is the Social Security benefit progressive?
(2) How is its financing scheme regressive?
2). One of the main goals of the ACA (Patient Protection and
Affordable Care Act of 2010, aka Obamacare) was to provide
affordable health care to the uninsured.
1. What were the THREE primary pieces of the law that were meant to
provide coverage for everyone...
11 Lisa is single, age 40, with 2 children age 8 and 10 whom she supports and who the with her full time She works at Arby's and earns $35,000 salary and has AGI of $35.000. She pays $3000 in the year for a babysitter. Which of the following is true? Select one or more: a. Lisa is entitled to a refund of her taxes for the Additional Child Credit, the Earned Income Credit and FICA taxes that were withheld....
1. Peter and Susan Dillon are married and have two children: Paul, age 22 and a full-time student during the entire year and Mary, age 18. Paul has $6,000 in taxable interest income and Mary has $5,000 in taxable dividend income. Peter and Susan provide over half of the support of both children, who live at home. Neither child is married. Which of the following statements is true? a. Paul qualifies as a dependent of the Dillons b. Mary qualifies...
Compute the cost of a single preschool class and a single
birthday party using the current cost system.
Introduction Tots R Us (TRU) had been running a small, for-profit preschool program for young children between the ages of two and four for several decades. TRU was one of several privately run programs in the suburban Boston area. For each of the three age groups i.e., two-, three- and four-year olds), there were two classes per day for a total of...
False 1. Pete and Shirley are filing a joint return. They have two dependent children. The total amount of their exemptions for tax year 2019 is $16,800. 2. Bill and Martha are filing a joint return. They are both over 65 years old. Neither of them are blind. What is their standard deduction? $ 27000 A. $0 (Do not enter dollar signs, commas, periods, or decimal points in your answer.) 3. Sarah's divorce was finalized on March 4, 2019. As...
Using the book, write another paragraph or two: write 170
words:
Q: Compare the assumptions of physician-centered and
collaborative communication. How is the caregiver’s role different
in each model? How is the patient’s role different?
Answer: Physical-centered communication involves the specialists
taking control of the conversation. They decide on the topics of
discussion and when to end the process. The patient responds to the
issues raised by the caregiver and acts accordingly. On the other
hand, Collaborative communication involves a...
I got stuck on these two steps, can someone help me ?
ACCOUNTING CYCLE STEP 3: Post each trans me general ledger working papers provideo teach transaction in the general journal to the general ledger. Use s provided in your packet. Posting is the process of transferring general journal entry information to the seneral ledger. Fach number you post should be properly Cross-referenced Helpful Hints by: recording the general journal page number (ex. G1, G2, etc.) in the Posting Reference...
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