1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
aleksandrvk [35]
3 years ago
7

Camilo and Isa have three children all under the age of ten. The two youngest children, who are three and five years old, attend

ed El Cuento Pre-School for a total cost of $3,500. Juan, who is nine, attended Little House Daycare after school at a cost of $1,000. Isa has earned income of $12,000 and Camilo earns $24,000. What amount of childcare expenses should be used to determine the Child and Dependent Care Credit?a. $3,500 b. $4,500 c. $12,000 d. $36,000
Business
1 answer:
tangare [24]3 years ago
4 0

Answer:

The correct option is B

Explanation:

As per Child and Dependent care credit, the credit is taken for dependent or children only till the age of 13. In the present situation, all three children are less than 13 years of age. Therefore, all are eligible under the scheme.

And as per rules, the amount which can be claimed for 1 dependent is $3,500 and for two or more dependent, the amount is maximum to $7,000. So, the amount spent on the 2 youngest children is $3,500 whereas amount spent on the oldest children is $1,000. Therefore, the aggregate amount is $4,500 ($3,500 + $1,000), which can be used for determining the dependent and child care credit.

In the present case, Camilo and Isa having total income of $36,000 ($12,000 + $24,000), which is more than $4,500. So, the whole amount will be used for determining the Child and Dependent care credit.

Therefore, B option is Correct.

You might be interested in
Suppose the economy is producing at the natural rate of output. An increase in consumer and business confidence will cause _____
Leokris [45]

Answer:

d) no change; a decrease

Explanation:

The Real GDP (gross domestic product) is a macroeconomic term which is the measurement of the value of services and goods produced by economy in a certain or specific time period compared to normal GDP.  The influencer elements of Real GDP are very miscellaneous due to long run and short run periods. Then, the determinants which impact on the long run growth of an economy are:

1) Growth of productivity that means the ratio of economic outputs to inputs

2)Demographic changed that means the change of quantity or quality of employment, age structure and etc.

3)Labor Force participation which means that which amount participation there is in labor activities.

As seen above, the consumer and business confidence will not have any positive or negative effect on the real GDP.

Inflation is one of the most important macroeconomic indicator that intends the rate how the purchase power of the money is falling  by the rising on the price levels of goods and services. In long run, the most influencing element for inflation is the rate of money supply but if we consider business and consumer confidence are the positive things for the developing of GDP, then they will have a little bit decrease effect on inflation.

8 0
3 years ago
The government wants to ensure that emergency exits are accessible in office buildings. Its incentive is to _____. provide safe
tatiyna
Provide safe workplace! 
Hope this help
8 0
3 years ago
Read 2 more answers
Henrietta, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into
klio [65]

Answer:

Total deduction for the year = $48,956

Explanation:

You can deduct investigation expenses but only for new business that is in the same industry as your current business. In this case, Henrietta incurred in $42,500 expenses trying to expand her hotel business. Total deduction for the current year = $42,500.

If the investigation expenses are not related to your current business, e.g. restaurants, then you can capitalize the costs and amortize them only if you actually carried out the expansion.

You can deduct up to $5,000 during the first year but this amount decreases by $1 for every dollar above $50,000. Total immediate deduction = $4,400. The remaining $46,200 must be amortized over 180 months. Amortization per month = $46,200 / 180 = $257

Total amortization for year 1 = 8 months x $257 = $2,056

Total deduction for the year = $42,500 + $4,400 + $2,056 = $48,956

7 0
3 years ago
Michael's, Inc., just paid $1.90 to its shareholders as the annual dividend. Simultaneously, the company announced that future d
sergij07 [2.7K]

Answer:

$44.18

Explanation:

The price can be easily calculated by the simple formula,

Price of stock = Dividend / (rate of return - growth of dividend)

Hence,

Price of stock = 1.90 / (0.085 - 0.042)

Price of stock = $44.18.

Hope you understand this simple equation

Thanks buddy.

6 0
3 years ago
N has a disability policy and suffers a covered loss. After elimination, what is the maximum time the insurer has to make a clai
agasfer [191]

Answer:

under the time payment of claims provision, the maximum time the insurer has to make payment for the claim is 60 days

Explanation:

time payment of claim provision is a provision that requires claims to nbe made within a stated days.

By legal actin provision, the insured is not allowed to take legal action against the insurer. This is due to the fact the claim legally run  within 60 days. So, the maximum time frame the insured has to make a claim payment under the time payment of claim provision is 60 days

5 0
3 years ago
Other questions:
  • Marigold Company’s sales budget projects unit sales of part 198Z of 10,300 units in January, 12,000 units in February, and 13,50
    12·1 answer
  • Explain two barriers to entry for a new business
    14·2 answers
  • Sam Seller was worried that Barney would not perform under the contract and demanded an assurance. How many days does Barney hav
    6·1 answer
  • Logistics Trucking Company operates a fleet of fuel trucks. When one of the trucks is positioned to receive a load of biofuel, i
    9·1 answer
  • Kiddy Toy Corporation needs to acquire the use of a machine to be used in its manufacturing process. The machine needed is manuf
    8·1 answer
  • Which of the following government agencies estimates and compiles the U.S. GDP accounts? Multiple Choice the Bureau of Economic
    11·1 answer
  • Tax that you pay when making a profit from selling a house is an example of:
    6·2 answers
  • You interview with an athletic footwear manufacturer that has annual advertising expenditures of $32 million and total sales rev
    13·1 answer
  • The financial statements of an Enterprise fund are prepared using the :_______
    13·1 answer
  • Nuclear Inc. just paid a $2.75 dividend. Dividends are expected to grow by 30% in year 1, by 25% in year 2, and by 25% in year 3
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!