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sasho [114]
3 years ago
9

Jim (49) and Linda (50) are married and will file a joint return. They have two children, Todd (20) and Traci (15), who both liv

ed with their parents all year. Todd has a part-time job, and Traci is still in high school. Jim and Linda provide more than 50% of the support for both children. Jim's wages were $26,500; Linda's wages were $16,805; Todd's gross income was $3,100; Traci's was $0. Jim and Linda have no other income. Jim, Linda, Todd, and Traci had health care coverage all year through Jim's employer. Jim and Linda are not claiming any education or retirement savings contribution credits. What is the amount of Jim and Linda's earned income credit?
Business
1 answer:
bogdanovich [222]3 years ago
4 0

Answer: The answer is $5,828

Explanation:

Jim wages = $26,500, Linda wages = $16,805, Todd gross income was $3,100

Since Todd gross income is below the level in which he his expected to file a tax return, his parents cannot claim his income on their tax return. Their adjustment gross income AGI = $26,500 + $16805 = $43,305

Since the tax credit given is bases on the number of children, and for two children the maximum earned income tax credit is $5,828 for income below $52,493 Since their AGI is $43,305 below $52,493 for married filling jointly The amount of their earned income tax credit is $5,828

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Explanation:

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In the given case, Japanese company´s export to the U.S have affected the domestic jobs as their motive is to maximize profit, which leads to an argument for protection of domestic job in U.S auto industry, therefore, US government have limited the export of Japanese automaker.

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3 years ago
An organization looking for general agreement on ethical practices might take what step?
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An organization looking for general agreement on ethical practices might:<u> establish an ethical code of conduct.</u>

<h3>What is establish an ethical code of conduct?</h3>

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This code of conduct enables us to know the organization norms and values as well  what is right and what is wrong which in turn means that it enables us to know the right things to do and thing to to avoid.

The code of conduct encourage ethical act which is to be honest and to have integrity among others and as well discourage unethical behavior in an organization which is why most organization has ethical code of conduct that enables their employee or workers to known the ethical ways they should behave.

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The conclusion we can draw is that businesses invest heavily on capital expenditures for future growth.

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