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julsineya [31]
3 years ago
6

Your friend fills out their first tax form and is confused between adjusted and gross income. How can you explain the difference

to your friend so that they can understand the difference? Give an example on why your friend’s income may be adjusted.
Business
1 answer:
Illusion [34]3 years ago
8 0
<span>Annual gross income is the amount of money you make BEFORE taxes. Your adjusted gross income is how much money you make before taxes, MINUS anything you can deduct. You can deduct many things, like student loan interest payments and alimony. So, you would have an adjustment if you paid for student loans this year. If your gross income (not adjusted) is $20,000 and you paid $1000 on student loan interest, your adjusted gross income is $19000. The IRS will then see your income as only $19000 instead of $20,000 and will tax you on that lower amount.</span>
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Seth invested $44,000 in Series EE savings bonds on April 1. By December 31, the published redemption value of the bonds had inc
Lunna [17]

Answer: $0

Explanation:

Series EE Bonds are interest - bearing the United State of American government savings bonds which has guarantee to at least doubling in value over their normal 20-year initial terms. Few Series EE bonds pay interest above the original due date, up to 30 years from issuance

Seth will not report any interest income from the EE savings bonds currently unless he elects to have the increase in redemption value taxed currently.

5 0
4 years ago
Read 2 more answers
uses project characteristics in a mathematical model to estimate project costs. a. Rough order of magnitude estimating b. Bottom
Illusion [34]

Answer:

The correct answer is letter "E": Parametric estimating.

Explanation:

Parametric costs estimating allows companies to estimate future expenditures based on activities the firm incurred in the past. The approach uses mathematical equations and statistic methods to support the predictions. In the process, variables -<em>called parameters for the approach</em>- are the reference for both mathematical calculation and statistic analysis.

7 0
4 years ago
We try to determine if we can use educational background, interests, and gender to see if an individual's annual income differs
MrRa [10]

Answer:

Multiple regression

Explanation:

With regards to the above, multiple regression can be used to determine one educational background, interest and gender so as to see if there is a variation in terms of individual's annual income as it relates to their educational background.

Multiple regression basically is a mathematical model, which is used when one value is matched with two or more variables. Here, the value is a stand alone, which is why we study, while the variables are dependent; hence are factors that required to be checked and why the whole analysis is being conducted.

In the above scenario, the value being represented is 'annual income' which is independent, while educational background, interest and gender are variables which are independent.

6 0
3 years ago
Aaron is a freshman in college who has not yet decided on his major. He is thinking about majoring in operations management and
malfutka [58]

Answer:

The statements which are most accurate for operations management majors is:

b. acquire skills and knowledge that are valuable to firms in both the manufacturing and service sectors.

Explanation:

It has been mentioned here is that

their is a fisherman named Aaron who had not yet decided about his major. Exploring different job opportunities and majoring in operations management is his thinking of doing in the upcoming days.

So, the statement which is most accurate for the management operations in jobs will be:

b. acquire skills and knowledge that are valuable to firms in both the manufacturing and service sectors.

Operation management: It is a term which is used by various organisations.

It has been used by different firms and all organisations to reach a level of efficiency by carrying out better administration and functions.

7 0
4 years ago
One important distinguishing feature of valid arguments is that __________.
nignag [31]

One important distinguishing feature of valid arguments is that the conclusion is always based on the premises or follow the premises. If the premise is true then the conclusion is true. If the premise is is false, then the conclusion is false. They are valid arguments.

3 0
4 years ago
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