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GuDViN [60]
1 year ago
11

mark and shirley, married filing jointly with a modified adjusted gross income (magi) of $92,300, adopted their son, matthew in

2022. they paid $15,020 in adoption expenses. what are their total expenses for the purpose of calculating the adoption credit? $13,330 $14,000 $14,890 $15,020
Business
1 answer:
kap26 [50]1 year ago
6 0

Answer:

$14890 is the correct option because if any parent adopts a child in 2022  there is a federal adoption tax credit of up to $14,890 per child.

<h3>Claiming the Federal Adoption Tax Credit for 2022</h3>

A federal adoption tax credit of up to $14,890 per child is available for adoptions that are finalized in 2022. The adoption tax credit for 2022 is not transferable.

Parents who wish to receive the credit must:

have adopted a child who is not a stepchild - The child must be less than 18 or incapable of caring for themselves due to physical or mental impairment.

abide by the income restrictions - How much of the credit parents can claim depends on their income. Families earning less than $214,520 in modified adjusted gross income in 2022 are eligible for the full credit. People who earn between $223,410 and $263,410 can receive a partial credit; people who earn more than $263,410 cannot.

To know more about 'Adoption tax credit', visit :brainly.com/question/15410304

#SPJ4

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If you put $50 in a savings account that paid 10% compounded yearly, how much interest would you earn in 3 years?
stepladder [879]

Answer:

$66.55

Explanation:

10% of 50 = 5

55 in one year

10% of 55 = 5.5

60.5 in two years

10% of 60.5 = 6.05

66.55 in three years

Hope this helped

4 0
3 years ago
Observe the Sales Budget and determine which primary responsibility the managerial accountant uses todetermine which quarter gen
pantera1 [17]

Answer:

"Directing" seems to be the right response.

Explanation:

  • Directing seems to be the major concern of the financial analyst to ascertain whether the significant proportion obtained that much sales figures for every unit cost of production throughout addition to changing the marketing campaign.
  • Strategy formulation, trying to organize, staff numbers would not have any significance if the management function doesn't take place.

Therefore the method above is the right one.

4 0
2 years ago
Kelley Company reports $1,250,000 of net income for 2017 and declares $175,000 of cash dividends on its preferred stock for 2017
defon

Answer:

Net income available to common stockholders is $1,075,000

Explanation:

Net Income                            $1,250,000

To Preferred Shareholders   <u>$175,000    </u>

Net income available to       <u>$1,075,000</u>

common stockholders

Basic earnings per share = Net income available to common stockholders / weighted average shares of common stock

Basic earnings per share = $1,075,000 / 380,000

Basic earnings per share = $2.8290 per share.

3 0
3 years ago
Which of the following is an ethical issue in marketing information
murzikaleks [220]

Answer:

Which of the following is an ethical issue in marketing information  management?

The ethical issue in marketing information management has to do with How to store customers' information securely. This must be done in such a way that customers information are not leaked out in order not to bridge the trust issue entrusted in them by the customer.

Explanation:

6 0
3 years ago
A company has annual sales of $160 million, a net profit margin of 4%, and total assets of $90 million. It carries $10 million i
sasho [114]

Answer:

18.29%

Explanation:

Return on Equity is the net profit available for equity/ Total equity value.

Total equity = Total assets - Total debt

= $90 million - $55 million = $35 million

Earnings for equity = Annual sales \times net profit margin 4%

= $160 million \times 4% = 6.4 million

Therefore, return on equity = \frac{Net\ profit\ for\ equity}{Total\ value\ of\ equity}

= \frac{6.4\ million}{35\ million} \times 100 = 18.2857

Therefore, ROE = 18.29%

4 0
3 years ago
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