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
Mama L [17]
3 years ago
6

Don (67) and Carol (66) are married and file a joint return. Their gross income (including 1/2 of their social security) for 201

8 was $43,860. Up to ___ of their social security benefits may be taxable.
a. 100%
b. 85%
c. 50%
d. 0%
Business
1 answer:
grigory [225]3 years ago
7 0

Answer:

c. 50%

Explanation:

According to the Internal revenue service, if the joint return is filled with the income below $32,000 then no tax liability would arise

But if the income lies in between $32,000 to $44,000, 50% of the benefits is taxable and if the income exceeds to $44,000, 85% of the benefits are taxable  

Since in the question, the combined income is $43,860 that is below $44,000 so only 50% of heir social security benefits are taxable

You might be interested in
Who may be affected by monetary penalties imposed by the Internal Revenue Service when a Tax Professional fails to meet due dili
Evgesh-ka [11]

Answer:

Both the tax practioner and the assessee will be liable for penalties under IRS 6695(a)

Explanation:

When a tax preparer is paid to arrange the tax return of a client they must follow preparer due diligence laws.

This is the case when the preparer is trying to get a refund of earned income tax credit, child tax credit, American opportunity tax credit, or filing of head of household status.

The effect on the tax preparer's client include:

- refund of amounts collected in error because of wrong return

- a two year ban from claiming credits if error is due to recklessness

- a ten year ban if error is as a result of fraud

The consequences for the tax preparer includes:

- for each requirement not met a $500 penalty

- suspension from the IRS e-file

- a ban from tax preparations

- in cases of fraud criminal charges can be made

5 0
3 years ago
John, the owner of a lawn care service, likes to meet with his employees six months after their yearly evaluation to discuss how
Mariana [72]

Answer:

<em>Control</em>

Explanation:

The control cycle <em>is the incremental process in which tests are prepared, tracked, reviewed,  and updated. </em>

The control cycle is widely used to continually monitor organizational expenditures and  system flows.

The assumption when applying the control cycle to budgeting is that each subsequent iteration of  the budget will be changed based on the information obtained when comparing the initial budget with  actual results.

6 0
3 years ago
32. How many significant accounting policies are listed under its Summary of Significant Accounting Policies
Gnom [1K]

Answer:

There are various significant accounting policies which are governed by IFRS and GAAP framework.

Explanation:

The significant accounting policies are revenue recognition, inventories accounting cost or NRV, Property plant and equipment, goodwill recognition and others. These policies are governed by accounting frameworks such as GAAP and IFRS. Both of these frameworks have differences in accounting treatment.

4 0
3 years ago
A firm that offers tailor-made suits to its customers is appealing to the ____________ dimension of the customers’ utility funct
alexandr1967 [171]

Answer:

Fit dimension

Explanation:

Utility function is the function which is vital that measures the preferences over a set of the services or goods. Utility states the consumer or the customer satisfaction, receiving the consuming and choosing the service or product.

Consumer utility function is the function which states the satisfaction or contentment of the customer. So, if the firm or the company who is offering the tailor made ( which means as per the requirement of the customer), to the customer that appeals the fit dimension of the utility function of the customer as it captures how well the service or the product matches the characteristics of the given customer.

6 0
3 years ago
Truman applies for a job at Skylight Canopy Corporation for which he is well qualified, but for which he is rejected. Skylight c
Blizzard [7]

Answer:

The correct answer is:  a protected class.

Explanation:

A protected class is a group of people legally protected from employment discrimination who share similar characteristics such as <em>religion, race, gender, age </em>or<em> disability</em>. The United States Department of Justice is the agency in charge of enforcing this type of anti-discriminatory law.

4 0
3 years ago
Other questions:
  • The numbers on the bottom of a typical check represent all of the following EXCEPT? A Social Security Number B Routing Number C
    15·2 answers
  • How much times 4 can co go to '80?
    6·1 answer
  • After a recent divorce and many years as a stay-at-home mom, Cheryl is entering the workforce. As a single parent with three chi
    11·1 answer
  • Structural unemployment includes people who become unemployed from
    14·1 answer
  • The Lancaster State Bank is thinking about purchasing a corporate bond that pays a coupon of 8.5%. The bank has a marginal tax r
    7·2 answers
  • Jenna does not drink alcohol and when she meets clients for dinner she knows that while the client might enjoy a glass of wine w
    5·1 answer
  • The people in an economy have $10 million in money. there is only one bank that all the people deposit their money in and it hol
    12·1 answer
  • QUESTION 8 of 10: True or False: Freestanding locations have lots of direct competition
    9·1 answer
  • _____ is the money a company earns from providing services or selling goods to customers.
    10·1 answer
  • The degree to which a customer will continue to buy from a specific vendor over time is called customer?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!