The most credit score that he may also declare on his tax go back is
Option B ( $5000 American Opportunity Credit )$2500 Per student * child's= $5000
The required details for tax return in given paragraph
A tax go back is a shape or paperwork filed with a tax authority that reviews income, expenses, and different pertinent tax facts. Tax returns permit taxpayers to calculate their tax liability, time table tax payments, or request refunds for the overpayment of taxes. In maximum countries, tax returns should be filed yearly for an character or enterprise with reportable income, consisting of wages, interest, dividends, capital gains, or different profits.
In the United States, tax returns are filed with the Internal Revenue Service (IRS) or with the country or local tax series agency (Massachusetts Department of Revenue, for example) containing facts used to calculate taxes. Tax returns are commonly organized using paperwork prescribed with the aid of using the IRS or different applicable authority.
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Answer: $52,500
Explanation: property worth when Beth recieved it $250,000
After 10years the property was worth $390,000 ( when she could receive full title)
Beth held own for 11years before selling it off at $470,000
Cost inflation index = index for financial year 2010-11 / index for financial year 2001-02
CII = 167/100 = 1.67
Index cost of purchase = CII × purchase price
1.67 × $250,000
= $417,500
Capital gain = selling price - index cost
= $470,000 - $417,000
= $52500
Answer:
1. Required tabulation is the Shares Authorized, the Shares Issued and the Shares Outstanding
Shares Authorized = 290,000 shares
Shares Issued
= Total Cash Collected / Price per share
= 2,170,000 / 14
= 155,000 shares
Shares Outstanding
= Shares Issued - Treasury stock
= 155,000 - 5,000
= 150,000 shares
2. Additional paid in capital account
= Gain (loss) above par
Par value is $10 and Stock was sold for $14
= (14 - 10 ) * 155,000
= $620,000
3. Earnings per share
= Net Income/ Shares outstanding
= 297,000/150,000
= $1.98
Answer:
The answer is: D
Explanation:
Financial reports are prepared to provide useful information to the business' capital providers, that is, the investors and creditors. These two groups of stakeholders are responsible for providing financial resources which enable companies to start, continue or expand their operations. These reports, which contain accounting information, are generated by management and evaluated against reporting standards to meet the regulatory requirements set by regulators.
Answer:
D. Medicare
Explanation:
Medicare is a federal tax imposed on all workers. It is a compulsory deduction based on the worker's gross pay. Employers are required to withhold the medicare tax amounts are remit to the government. Medicare is used by the federal government to provide medicare care to senior citizens aged 65 years and above.
Life Insurance, 401(k), and Health Insurance are voluntary deductions. The employer withholds the amounts and remits them to the relevant agency as per the employee's request.