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Nuetrik [128]
3 years ago
14

Samantha, who is single and has MAGI of $36,000, recently was employed by an accounting firm. During the year, she spends $1,650

for a CPA exam review course and begins working on a law degree in night school. Her law school expenses were $4,275 for tuition and $900 for books (which are not a requirement for enrollment in the course).
Assuming no reimbursement, how much can Samantha deduct for the:

a. CPA exam review course? $X

b. Law school expenses? $X
Business
1 answer:
jek_recluse [69]3 years ago
7 0

Answer:

a) $0

b) $4,000

Explanation:

a)

No deduction will be allowed to samantha for the amount spent on CPA exam review course.

So, Samantha can deduct $0.

b)

Under section 222 of IRS Code, maximum amount of deduction allowed to tax payer (whose adjusted gross income is less than $65,000) on account of tuition fees and other education expenses is $4,000.

So, Samantha can deduct $4,000.

Hope this helps!

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Answer:

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Explanation:

A programmed decision <em>is a repeated or recurring decision which can be made in accordance with established rules or procedures. </em>

Such types of assessments are often requested in a regular process at certain stages and are taken on the basis of criteria known and easy to identify.

7 0
4 years ago
Amazon expanded its single-product business by leveraging spare capacity into cloud computing and by offering its Kindle line of
RoseWind [281]

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B) related-linked diversification.

Explanation:

A related linked diversification strategy refers to expanding a company's product lines with products or services that are similar to the ones that it currently offers.

In this case, Amazon first sold books and selling a e-book reader follows a similar path. Since Amazon had spare cloud computing capacity, it decided to "lease it" to other businesses and is currently Amazon's star service that generates most of its cash.

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4 years ago
Tech giant, TimeHop was concerned about creating a workspace that was inviting and encouraged collaboration. Knowing that most o
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The statement is true.

7 0
4 years ago
All other factors being equal, what would the premium be like in a survivorship life policy as compared to the premium in a join
Marizza181 [45]

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The premium is lower in a survivorship life policy as compared to the premium in a joint life policy.

3 0
3 years ago
The study of economics is really boring, and it has little to do with my daily life.
zvonat [6]

Studying economics can be really boring, because of the amount of technical terms that can be difficult for everyone to understand, but it is important to learn economics as we deal with it in our daily life.

All of our activities are related to economics, as economics is defined as the science that studies the economic process, the distribution of wealth and resources for satisfying human needs and well-being.

Through economics we can understand several variables that impact our lives, such as:

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Therefore, it is necessary for each individual to have a base of economic knowledge to better understand how and why things happen in the world and how they directly impact our lives.

Learn more:

brainly.com/question/17408105

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3 years ago
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