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
svp [43]
3 years ago
9

John, 45 years old and unmarried, contributed $1,000 monthly in 2018 to the support of his parents' household. The parents lived

alone and their income for 2018 consisted of $500 from dividends and interest. What is John's filing status and how many dependents should he claim on his 2018 tax return?
Business
1 answer:
Alex17521 [72]3 years ago
7 0

Answer:

Head of household; 2 dependents

Explanation:

For filing under 'head of household' status, a taxpayer must fulfill following conditions:

1. Taxpayer must pay more than 50% of household expenses.

2. In the tax year, the taxpayer must be unmarried.

3. The taxpayer must have either a qualifying child or a dependent.

John fulfills all the above conditions.

John is married and take care of his parents' expenses. His parents are dependent on him even though they do not stay with him for the entire year as he has contributed more than half of their living expenses.

Therefore, John can file as 'head of household'.

He can claim 2 dependents on his 2018 tax return, his father and mother.

You might be interested in
Radoski Corporation's bonds make an annual coupon interest payment of 7.35% every year. The bonds have a par value of $1,000, a
gtnhenbr [62]

Answer:

YTM = 0.6940%

Explanation:

THe Yield to Maturity (YTM) is the return that you expect from the bond if you held the bond till maturity.

The formula would go as:

YTM = \frac{F}{P}^{\frac{1}{n}} -1

Where

F is the face value, or par value

P is the current price

n is the time period, maturity period

Given,

F = 1000

P = 920

n = 12, we have:

YTM = \frac{F}{P}^{\frac{1}{n}} -1 = \frac{1000}{920}^{\frac{1}{12}} -1=0.006972

Thus, the yield to maturity would be:

YTM = 0.6940%

5 0
3 years ago
Assume that a machine has a useful life of 9 years, and it loses its real value at a constant rate (i.e. 1/9 of the original val
weeeeeb [17]

Answer:

$52,435.00

Explanation:

After 3 years the future value of 100,000 at 6 percent will be

FV = PV × (1+r)n

=FV = 100,000 x (1 +0.06)3

FV = 100,000 x 1.191016

FV = 119, 101.60

The interest will be 119, 101.60 - 100,000

=19,101.60

The depreciation over 9 year period, per year will be

=1/9  x 100,000

=11, 111.11  per year

3 year depreciation = 33,333.33( 11,111.11 x 3)

The investment must generate at least

19,101.60 + 33,333.33

=$52,434.93

=$52,435.00

7 0
2 years ago
Assume that you and your best friend each have $1,000 to invest. You invest your money in a fund that pays 10% per year compound
marishachu [46]

Answer:

correct answer is c. You both have the same amount of money

Explanation:

given data

invest = $1000

pay compound interest = 10%

pay simple interest = 10%

time = 1 year

solution

we get here difference in the total amount that is your friend money -  your money  .................1

so difference in the total amount = invest × (1+rate)^{time} - [ invest + ( invest  × rate × time) ] ......................2

put here value

difference in the total amount = $1000 × (1+0.10)^{1} - [$1000 +  ( 1000  × 10% × 1) ]

difference in the total amount = 0

so correct answer is c. You both have the same amount of money

7 0
3 years ago
Service products cannot generally be produced in ________or __________. Services are typically _________________________________
steposvetlana [31]

Answer:

Service products cannot generally be produced in advance or stored.

Services are typically variable, and in almost every service offering, the service cannot start until the customer arrives and actively participates.

Explanation:

Services have distinguishing characteristics that differentiate them  from goods.

To start with, services cannot be produced in advance as production and consumption happen at the same time.

Also,the customer must be present and actively contributes to the delivery of the service, for instance, haircut cannot happen except the customer comes to the salon and obeys the instructions of the barber as they go along.

Besides,there is no physical substance in service unlike purchase of goods.

4 0
3 years ago
Match the association type with the person that best fits the description: personal association a. your parents b. the president
Lady bird [3.3K]

Answer: A. Is the answer

Explanation: I took the quiz and got it right

3 0
3 years ago
Read 2 more answers
Other questions:
  • In a television commercial for chobani greek yogurt, the manufacturer chobani plays which role in the communication process
    10·1 answer
  • i'm doing a speech about why people give up and why they shouldnt give up what should my attention getter and my main points be?
    6·1 answer
  • Ocean Breeze Co. paid $500 cash for expenses related to advertising for the period. Which of the following shows how this event
    6·1 answer
  • 1. According to the Small Business Administration, the percentage of businesses that
    15·2 answers
  • Suppose taxpayers are given a one-time only rebate on previous taxes paid. If consumers spend all of their tax rebate checks, wh
    8·1 answer
  • Professor Green teaches environmental economics at the local university. Students learn that the professor has also written book
    11·1 answer
  • The sales department of a mutual fund firm sets goals for the next fiscal year to sell a certain number of mutual funds each mon
    5·1 answer
  • Assume that investment spending
    10·1 answer
  • Klear Manufacturing sells its plant with a cost of $1.2 million to Burt Company for $1.4 million and immediately leases it back
    9·1 answer
  • make your own meme for points! But I swear if there is no good memes brainly sucks now because their used to be amaaaaaaaaaazing
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!