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777dan777 [17]
2 years ago
15

in 2022, denise has two children who are qualifying persons for the child and dependent care credit, ethan and jeffrey. ethan ha

s $9,000 in dependent care expenses, and jeffrey has none. assuming all other tests are met, what amount of expenses is the credit based on? $3,000 $6,000 $8,000 $9,000
Business
1 answer:
jekas [21]2 years ago
7 0

$9,000 is the amount of expenses is the dependent credit based on. The Dependent Care Credit ranges from 20% to 35% of Qualified Expenses for Tax Years Through 2020. The percentage is determined by your supplemental gross income (AGI).

<h3>Which costs are not covered by the Child and Dependent Care Credit?</h3>

The following costs are not covered by the Child and Dependent Care Credit:

  • Costs of getting to and from the daycare center.
  • Camp expenses for one night.
  • The cost of educating a child through kindergarten or higher.
  • Costs for a chauffeur or gardening assistance.
  • Depending on whether the program is for the child's care, the cost of before- or after-school programs may be covered. If you are unable to distinguish between the cost of care and the cost of education, costs up to kindergarten qualify. This includes kindergarten.

To know more about 'Dependent Care Credit' , visit:brainly.com/question/15056356

#SPJ4

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Answer:

The answer is: Expected annual net cash savings are $16,750.

Explanation:

Please find the below for detailed explanations and calculations:

Payback period is defined as the time it takes an investment to recover its initial investment.

In this case, the initial investment is the cost of software package at $67,000, while the payback period is four years.

We apply the payback period formula to calculate payback period to calculate the Expected annual net cash savings:

Payback period = Initial investment / Net cash flow per period <=> Net cash flow per period = Initial investment / payback period = 67,000 / 4 = $16,750.

So, Net cash savings annually is expected at $16,750. In other words, if the firm is to save $16,750 per year from owning the software, it will take the firm 04 years to recover its initial investment.

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3 years ago
In constructing a common-size income statement, depreciation will be______. A. omitted since it is a noncash expense. B. express
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Answer:

B. expressed as a percentage of sales.

Explanation:

The common size income statement is the income statement where n each line the item on the income statement should be expressed as a percentage of sales

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Therefore all other options are wrong

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Answer:

The answer is option A) The short run recommendation for a monopolistic firm is to remain at the current output level

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A self-employed profit-maximizing consultant specializing in monopolies understands that the short run losses experienced in a monopoly is also an advantage in that it reduces the participation of more players in the same industry/ market segment.

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3 years ago
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