All of the following factors are taken into account when determining the number of allowances a...
All of the following factors are taken into account when determining the number of allowances a taxpayer should claim EXCEPT: Head of household filing status. Child and Dependent Care Credit. Occupation as a farmer or commercial fisherman. Anticipated itemized deductions.
Homework Answers
The following factor will not be taken into account when determining the number of allowances a taxpayer should claim:
Occupation as a farmer or commercial fisherman.
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All of the following factors are taken into account when
determining the number of allowances a...
When determining if a taxpayer qualifies for the Joint Custody Head of Household Credit, he or...
When determining if a taxpayer qualifies for the Joint Custody Head of Household Credit, he or she must have kept up the taxpayer's home as a household that was the main home for the taxpayer's unmarried child, stepchild, or grandchild; or married child, stepchild, or child's descendant whom the taxpayer could claim as a dependent for at least how many days of the year? A. 100 daysB. 146 daysC. 150 daysD. 157 days
following the rules for divorced or separated parents, Jane, the noncustodial parent, may claim which of...
following the rules for divorced or separated parents, Jane, the noncustodial parent, may claim which of the following? - earned income tax credit. - Child and dependent care credit. - education credits. - Head of household filing status.
Problem P4-6 (similar to) Question Help Calculate the total 2017 tax liability for a surviving spouse...
Problem P4-6 (similar to) Question Help Calculate the total 2017 tax liability for a surviving spouse with one dependent child with a gross income of $46,320, no salary reductions for employer-provided benefits, and no itemized deductions. Assuming the single parent taxpayer's filing status is Married Filing Jointly or Surviving Spouse, the taxpayer's standard deduction for the 2017 tax year is $ 20050 (Round to the nearest dollar.) a Data Table Standard Deduction Amounts Filing Status Single Married Filing Jointly or...
1) All of the following are due diligence requirements a paid tax preparer must meet when...
1) All of the following are due diligence requirements a paid tax preparer must meet when filing a return for a taxpayer claiming EITC, CTC/ACTC, ODC, AOTC, and/or head of household filing status EXCEPT: A) Investigate and verify the accuracy of information the taxpayer provides to show eligibility for the credits and/or head of household filing status. B) Complete all worksheets used to compute the credit. If the worksheet is completed by hand, keep a hard copy in the taxpayer's...
jane is full time student who participates receiving a 2,500 American opportunity tax credit in 2019....
jane is full time student who participates receiving a 2,500 American opportunity tax credit in 2019. how does the amount of her anticipated credit affect the number of her allowances she should claim? A) jane should use worksheet 1-6, converting crdits to withholding allowances, to help her adjust her withholding allowances for her credit. B) it has no effect because she is full time student, full time student are automatically exempt from withholding anyway. no further calculations related to the...
For the following taxpayers, indicate which tax form should be used, the applicable filing status, and...
For the following taxpayers, indicate which tax form should be used, the applicable filing status, and the number of children who qualify for the child credit. Cindy is divorced and received $6,000 of alimony from her former husband and earned $12,000 ,working as a secretary. She also received $1,800 of child support for her son ,who lives ,with her. According to a ,written agreement, her former husband is entitled to claim their son as a dependent. Solution says she files...
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports...
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports his son and his son's wife, both of whom lived with him for the entire year. His son and daughter-in-law (both age 20) file a joint return to get a full refund, as their gross income was $3,500. Both son and daughter-in-law are full-time students at a local college. QUESTION 2 Identify the best Filing Status for the following taxpayer: Ted is divorced and...
45 Which of the following taxpayers is eligible to claim the head of household filing status?...
45 Which of the following taxpayers is eligible to claim the head of household filing status? Marks: 1 Choose one answer a. The taxpayer's boyfriend lived in the taxpayer's home all of 2018. The boyfriend qualifies as the taxpayer's dependent b. The unmanied taxpayer pays more than half the cost of keeping his father in an assisted living facility. The father qualifes as the taxpayer's dependent c. The taxpayers married child lived in the taxpayer's home for the entire year....
Chapter 4 (In-Class Assignment) Multiple Choice (CPA Adapted) 1. Parker, whose spouse died during the preceding...
Chapter 4 (In-Class Assignment) Multiple Choice (CPA Adapted) 1. Parker, whose spouse died during the preceding year has not remarried. Parker maintains a home for a dependent child. What is Parker's most advantageous filing status? A. Single B. Head of Household C. Married Filing Separately D. Qualifying Widow(er) 2. Janet and Ted have two children, ages 8 & 10. Janet's mother, Martha, resides in a nursing home nearby. Martha's only income is S1,500 a month in social security. Janet and...
Question 23 of 75. Realize our potential: H&R Block Which of the following tax benefits may...
Question 23 of 75. Realize our potential: H&R Block Which of the following tax benefits may reduce a taxpayer's tax liability below zero? Adjustment Deduction. Nonrefundable credit. Refundable credit. Time remaining 77:17 Mark for follow up Question 24 of 75. Review the following choices, then choose the only response that does NOT describe a due diligence requirement for an individual who is paid to prepare returns for taxpayers claiming the head of household filing status and/or one or more of...
Problem P4-6 (similar to) Question Help Calculate the total 2017 tax liability for a surviving spouse with one dependent child with a gross income of $46,320, no salary reductions for employer-provided benefits, and no itemized deductions. Assuming the single parent taxpayer's filing status is Married Filing Jointly or Surviving Spouse, the taxpayer's standard deduction for the 2017 tax year is $ 20050 (Round to the nearest dollar.) a Data Table Standard Deduction Amounts Filing Status Single Married Filing Jointly or...
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports his son and his son's wife, both of whom lived with him for the entire year. His son and daughter-in-law (both age 20) file a joint return to get a full refund, as their gross income was $3,500. Both son and daughter-in-law are full-time students at a local college. QUESTION 2 Identify the best Filing Status for the following taxpayer: Ted is divorced and...
45 Which of the following taxpayers is eligible to claim the head of household filing status? Marks: 1 Choose one answer a. The taxpayer's boyfriend lived in the taxpayer's home all of 2018. The boyfriend qualifies as the taxpayer's dependent b. The unmanied taxpayer pays more than half the cost of keeping his father in an assisted living facility. The father qualifes as the taxpayer's dependent c. The taxpayers married child lived in the taxpayer's home for the entire year....
Chapter 4 (In-Class Assignment) Multiple Choice (CPA Adapted) 1. Parker, whose spouse died during the preceding year has not remarried. Parker maintains a home for a dependent child. What is Parker's most advantageous filing status? A. Single B. Head of Household C. Married Filing Separately D. Qualifying Widow(er) 2. Janet and Ted have two children, ages 8 & 10. Janet's mother, Martha, resides in a nursing home nearby. Martha's only income is S1,500 a month in social security. Janet and...
Question 23 of 75. Realize our potential: H&R Block Which of the following tax benefits may reduce a taxpayer's tax liability below zero? Adjustment Deduction. Nonrefundable credit. Refundable credit. Time remaining 77:17 Mark for follow up Question 24 of 75. Review the following choices, then choose the only response that does NOT describe a due diligence requirement for an individual who is paid to prepare returns for taxpayers claiming the head of household filing status and/or one or more of...
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