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zloy xaker [14]
3 years ago
12

Emilio and lara have two children who are enrolled full-time at their state college, wyatt, who is a freshman and deidra, who is

a senior, are both pursing undergraduate degrees. emilio and lara paid tuition of $8,000 for wyatt and $15,000 for deidra. emilio and lara's agi is $100,000 and they will file a joint return. assuming that if they otherwise qualify, what is the maximum education credit that emilio and lara can take on their return?
Business
2 answers:
frosja888 [35]3 years ago
6 0
<span>The maximum education credit for both emilio and lara would $5,000. They would be fully reimbursed for the first $2,000 on each student and then 25% of the next $2,000. Because they paid more than $4,000 per student they would receive the maximum reimbursement of $2,500 per student.</span>
amid [387]3 years ago
3 0
According to The American opportunity tax credit (AOTC<span>) Each student could </span>get a maximum annual<span> credit of $2,500 per eligible student.
So, </span><span>maximum education credit that emilio and lara can take on their return collectively is:
$ 2,500 x 2 = $ 5,000</span>
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Answer:

C) 4.50 percent

Explanation:

It is given that :

Interest a corporate bond pays = 6.25 percent

The marginal percent tax bracket is given as : 28 %

We have to find the amount that the municipality bond shall pay to be the equivalent to the amount after the tax basis :

We known that the municipal bond is tax exempted after the corporate tax bond should be equal to the municipal bond to be indifferent.

Thus, rate of return = rate of return after tax = rate x (1 - tax rate)

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3 years ago
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3 years ago
The area of accountancy that is focused on arranging company financial information to give to managers to make decisions is
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Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead
kupik [55]

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Data provided:

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