Answer:
C. Itemized deduction subject to the 2%-of-AGI floor
Explanation:
The $2000 legal fees that Hall paid to collect alimony is treated as Itemized deduction subject to the 2%-of-AGI floor.
AGI refer to Adjusted Gross income.
According to IRS(Internal Revenue Service), Miscellaneous itemized deductions are those deductions that would have been subject to the 2% of adjusted gross income limitation. Items listed on the IRS website subject to the 2% AGI limit include:
1. Credit or debit card convenience fees
2. Clerical help and office rent in caring for investments
3. Fees to collect interest and dividends
4. Depreciation on home computers used for investments
5. Legal fees related to producing or collecting taxable income or getting tax advice.
6. Repayment of income.
7. Tax advice fees.
8. Trustee's fees for your IRA, if separately billed and paid. etc
From the above list, we can see that the $2,000 paid by Hall as legal fees to get alimony is itemized deduction subject to the 2%-of-AGI floor.
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All of the options above were affected by the New Deal programs and expanse of power granted to the federal government during that time period. However, not all of these agencies were created by New Deal programs. The only agency that existed prior to the New Deal programs is...
B. Reconstruction Finance Corporation (RFC)
Answer:
The telling of black history not only recognizes the achievement of Black Americans, but also serves as a reminder of the freedoms we attained. To ensure that American History classes are more "inclusive", we can designate certain units to learning about the accomplishments and contributions of members of marginalized communities.
Explanation:
Answer:
A natural monopoly can occur when the average cost of making a good decreases a lot as output increases
Explanation:
A natural monopoly can occur when the average cost of making a good decreases a lot as output increases. An example of this is the electricity. It requires cables, towers, transformers and other electrical equipments, etc. So, in this case is not viable to have multiple providers.
Answer:
John Locke call this agreement as the social contract.
Explanation:
The Social Contract is not something new. One of the first philosophers to consider this idea was Thomas Hobbes, however, the social contract argued by Hobbes, humans have no liberty at all because they give their liberty to a king. In essence, Hobbes's point of view is an absolutist government. On the other hand, in Locke's point of view, even if the man gives his liberty (signing a contract), he has the possibility to take down the government. And most importantly, a state minimal.
