Answer:
The incorrect statement is letter "B": Residents of Canada meet the definition as a qualifying person.
Explanation:
Credit for Other Dependent is a tax credit taxpayers can claim for every qualifying dependent that is not considered as a Child Tax Credit (17 years or older and elderly parents). The taxpayer can get up to $500 nonrefundable credit for each of those qualifying dependents. Residents of Canada and Mexico do not meet the definition of qualifying dependent.
Because you have proof of what you payed.
Answer:
B) False: since it is still a closely held C corporation, it cannot reduce its ordinary income through passive losses. If it hadn't been a closely held C corporation then it could have made the deductions.
Explanation:
Passive losses are losses resulting from financial activities, i.e. investments in other corporations where the investor doesn't participate in.
Passive losses cannot offset ordinary income, they must be matched against passive gains only. If passive losses exceed passive gains, they can be carried forward without limitation.
The only exception applies to C corporations that are not;
- closely held corporations or
- personal service corporations.
Qualifying C corporations can actually deduct passive losses from certain ordinary income.
Closely held C Corporations are corporations where during the last 6 months, 50% or more of its stock is owned by 5 or fewer investors.
The correct answer to this open question is the following.
The key project management strategies that may have been used to minimize Go-live problems with the HP SAP Go-live process are the following.
1.- To avoid steps missing, checkpoint is necessary. 2.- Senior management must be informed about development issues, infrastructure, communication, testing, training, conversion, and operations. 3.- Collect all the information available from project teams. 4.- Take into consideration the information of team leaders and users. 5.- Apply readiness review after five or six months to see if the target date is possible.
