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abruzzese [7]
3 years ago
14

Joe and Teresa are married and they both work outside the home. They have three children ages 18, 6 and 2. Also, Joe's 20 year o

ld niece is a full-time student who lived with them all year and is claimed as their dependent. Which of the following expenses that Joe and Teresa paid qualify for purposes of claiming the child and dependent care credit?a) Payments to their 18 year old daughter to care for her 2 year old sister.b) Payments made to Joe's mother who lives with them but does not qualify as their dependent.c) Payments to a private school for their 6 year old to attend first grade.d) Payments to Joe's niece.e) None of the above expenses qualify.
Business
1 answer:
shtirl [24]3 years ago
8 0

The correct answer is B: Payments made to Joe's mother who lives with them but does not qualify as their dependent.

Further Explanation:

The Child and Dependent Care Tax Credit can be used when filing taxes if all the requirements are met. In this case, Joe's mother will fit the requirement and they can use her services to qualify for the credit. According to the IRS website, they can not use a dependant or a child of their own, not a dependant,  under the age of 19 to get this credit. However, they can use someone in the home as long as they are not listed as a dependant on the tax form.

To get the Child and Dependent Care Tax Credit the family must meet several requirements such as;

  • Paying someone to watch the qualifying child
  • The care provider is not a dependent
  • Child care was paid for so the parents could work, go to school, or was disabled.

Learn more about the Child Tax Credit at  brainly.com/question/12845462

#LearnwithBrainly

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"Falling oil prices have caused a sharp decrease in the supply of oil." Speaking precisely, this quotation is ______.a. Correct;
FinnZ [79.3K]

Answer: Option (d) is correct.

Explanation:

According to the law of supply, it states that there is a positive relationship between the price of a commodity and the quantity supplied of a commodity. This means that as the price of a commodity increases, as a result the quantity supplied of that commodity increases.

Therefore, any change occur in the prices of a commodity will affect the quantity supplied of a commodity not supply of a commodity.

5 0
3 years ago
A 5-year corporate bond yields 9.70%. A 5-year municipal bond of equal risk yields 6.5%. Assume that the state tax rate is zero.
Roman55 [17]

Answer:

c. 32.99%

Explanation:

Risk yield = bond yield*(1 - Federal tax rate)

    6.50% = 9.70%*(1 - Federal tax rate)

1 - Federal tax rate = 6.50%/9.70%

Federal tax rate = 1 - 6.50%/9.70%

                           = 32.99%

Therefore, The federal tax rate that you are indifferent between the two bonds is 32.99%

3 0
2 years ago
First,label the following scenarios as to whether they would create a producer or consumer surplus. Then, after you have labeled
Iteru [2.4K]
Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off she found online. She selects and purchases a $35 pair of jeans, pre-discount. 
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(Jeff's consumer surplus, $16)

<span>Nicole has in her possession a hockey puck from the 2010 Winter Olympic Games and sells it on eBay. She will only sell the puck if the winning bid is greater than or equal to $500. After bidding closes, the last bid stands at $500. </span>
(Nicole's producer surplus, $0)

<span>Claire is trying to sell her used calculus textbook online. She asks for $150 or best offer and is willing to sell for anything over $100. She is able to sell it for $125. </span>
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8 0
3 years ago
You were planning to spend Friday working at your part-time job, but a friend asks you to go kayaking.
N76 [4]

The statement that applies are the rental of ant kayak equipment you need the wages that you forgo by going kayaking and the fee for accessing the river in a national park

Explanation:

The true cost for going to a particular place includes all that costs that are included from moving to a place that includes all the wages and the vehicle cost

Here the opportunity costs includes the fee to go to the national park by crossing the river and the amount that is needed to be spent on the equipment and the wages that must be forgo by going to kayaking all these statements best includes the true costs of going to kayaking

7 0
3 years ago
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The answer is <u>"A. Mutual funds".</u>


A mutual fund is a professionally overseen investment support that pools cash from numerous speculators to buy securities. These speculators might be retail or institutional in nature.  

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8 0
3 years ago
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