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
stealth61 [152]
4 years ago
7

Allison has returned to school after five years out of the work force. She is taking one course at the local university for a co

st of $1,500. To maximize her taxes, should she take a tuition and fees deduction or an education credit? (Assume a 15 percent tax rate.)
Business
1 answer:
Charra [1.4K]4 years ago
8 0

Answer:

Allison can maximize her tax benefits by taking the Lifetime Learning Credit which results in a $300 tax credit.

Explanation:

Education credit:

Allison doesn't qualify for the American Opportunity Tax Credit (AOTC) since that only covers the first four years of college and even if she never attended college before, she would need to be enrolled at least half time.

She qualifies for the Lifetime Learning Credit (LLC) but it only covers 20% of the first $10,000 of expenses, in this case = $1,500 x 20% = $300 benefit

Tuition and fees deduction:

Allison can deduct $1,500 from her gross income = $1,500 x 15% tax rate = $225 benefit

You might be interested in
When purchasing a dishwasher a manager can tell if it is in compliance with the regulatory authority by?
katrin2010 [14]
When purchasing a dishwasher a manager can tell if it is in compliance with the regulatory authority by? Appliances have to be compliant with federal regulations. To check if a dishwasher is in compliance, a manager can make sure there are NSF seals or ANSI certifications on the dishwasher. 
5 0
4 years ago
The standard price and quantity of direct materials are separated because a.GAAP and IFRS reporting requires separation b.standa
geniusboy [140]

Answer:

The correct answer is letter "D": direct materials prices are controlled by the purchasing department and quantity used is controlled by the production department.

Explanation:

Standard price is the estimated price direct materials could have at the moment of ordering a purchase. Standard quantity refers to the forecasted number of units necessary for the production process of the firm. The two of them are separated to allocate each one to the department in charge of their providing accurate measures: <em>standard prices are set by the purchasing department while the standard quantity is estimated by the production department. </em>

The efficiency of standard price and quantity relies on the purchasing and production departments separately.

5 0
3 years ago
The Marketing Manager has requested that a field be added to each account that displays the number of contacts of associated wit
Andrej [43]

The requirement of the Marketing Manager can be achieved by:

- Creating a custom field on the account.

- Using a script to update the field when contacts are added or deleted.

<u>Explanation</u>:

A script helps in executing the changes that are made in the field. The scripts are used to perform custom actions before or after changes to the database/records.

Addition or deletion of data from a database can be performed efficiently with the use of the script.

The marketing manager wishes to create a field to mention the number of contacts related with the account. The requirement of the manager can be fulfilled by creating a custom field on the account.

4 0
3 years ago
If real GDP is $500 billion, full employment GDP is $300 billion, and the marginal propensity to consume is 0.9, then Congress s
melomori [17]

Answer:

tax increased = $22.22 billion

so correct option is 3. increase taxes by $22.22 billion.

Explanation:

given data

real GDP = $500 billion

employment GDP = $300 billion

marginal propensity = 0.9

solution

we know here that Inflationary gap will be

Inflationary gap = Real GDP - Full-employment GDP

Inflationary gap = $(500 - 300) billion

Inflationary gap = $200 billion

and tax Multiplier is

Tax Multiplier  = \frac{- marginal propensity}{1 - 0.9}

Tax Multiplier  = -9

here negative sign means that decrease real GDP by $9

so tax should be increased by $1

so we can say that decrease real GDP by $200 billion

and  tax should be increased = \frac{200 billion}{9}  

tax increased = $22.22 billion

so correct option is 3. increase taxes by $22.22 billion.

3 0
3 years ago
Creating economic value for shareholders while also creating social value is known as creating _____.
zhuklara [117]

Answer:

Shareholder capitalism, is the right answer.

Explanation:

Shareholder capitalism is the right answer because in shareholder capitalism the main purpose is to change the value of the company. The motive of the firm is to engage all the company’s stakeholders in the process of economic value creation. However, during the value creation, a company not only serves its shareholders but it serves all the stakeholders as well. Thus in this way, it creates social values.

5 0
4 years ago
Other questions:
  • How does Chloe Spencer's website make money? (Site 1)​
    13·2 answers
  • What is the equivalent annual annuity of a project that requires an investment of $50,000 today and is expected to generate free
    14·1 answer
  • helen owns 12.6% of the stock of the Median Corporation. If median makes a dividend payment of $30,000,000 paid proportionally t
    14·1 answer
  • Bricker Enterprises purchased a machine for $100,000 on October 1, 2018. The estimated service life is ten years with a $10,000
    11·1 answer
  • Norm and his creative team need to present an idea for marketing a new detergent to the head of their advertising agency. Diane,
    6·1 answer
  • An aggregate production function shows​ ________. A. the relationship between a​ country's output and its price level B. various
    14·1 answer
  • Explain what the economic problem is​
    12·1 answer
  • Which of the following is a characteristic of a general partnership?
    12·1 answer
  • Viết lý do chọn đề tài hay về chiến lược xúc tiến của công ty grab
    8·1 answer
  • Next year baldwin plans to include an additional performance bonus of 0. 5% in its compensation plan. This incentive will be pro
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!