Answer:
$24,402.50
Explanation:
Medical expenses can be deducted only if they are above 7.5% of your AGI:
$277,300 x 7.5% = $20,797.50
Medical deductions = $29,000 - $20,797.50 = $8,202.50
Evan can deduct $8,700 in mortgage interests
Total deductions for state and local taxes for a single filer = $5,000
Charitable contributions are also deductible = $2,500
total deductions = $8,202.50 + $8,700 + $5,000 + $2,500 = $24,402.50
Answer:
correct answer is 4) $169,000.00
Explanation:
given data
received distributions totaling = $14,000
remaining benefits lump-sum = $155,000
solution
we know that substantial payment by as distribution method not subjected to the early distribution penalty
but lum sum amount distribution before age 59.5 is subject to 10% penalty
so here we can say till 59.5 year annuity payment not changed
so amount subject to the penalty is = $14000 + $155000
amount subject to the penalty is = $169000
so correct answer is 4) $169,000.00
Answer:
1. In the short run, wages and other prices are stagnant making the economy to run below or above the normal level. In the long run, wages and prices are fully flexible, and this allows the economy to run at its natural level.
2. This distinction is important because it helps us to see how difficult it could be to sustain the real gross domestic product and employment rates thus making the economy to run at a normal level or achieve its full potentials.
Explanation:
Stickiness or stagnancy of wages can be seen in the fact that it is most time difficult to fluctuate or change the wages of workers overtime. The prices of most goods are also sticky when they remain unchanged over a given period of time. These conditions exist in the short run, and make the economy to run above or below its full potentials. The real GDP and unemployment levels are negatively affected.
In the long run, flexibility of wages and prices are achieved and this makes the economy to run at its full potentials. The real GDP as well as the employment rate are at their optimum level then.
