Solution:
a. Ellie is limited to the amount of 2230 (the sum of income earned for the year plus 350) when she files her own tax return.
= $1,880 + 350
Ellie is limited to the great of 2230.
b. The additional standard deduction of 1250 or 1550 is provided to people who are 65 and over or blind in 2017 based on the filing status.
The standard allowance of ruby and Woody shall be 12600 (commonly married) plus 1250 additional allowances of ruby aged sixty-five years old and 1250 additional allowances for Woody aged sixty-five.
= $12,170 + 1250 + 1250 = 14,670
c. Shonda is limited to more than 500 (the total amount of the $150 income earned for the year plus $350) when filing her personal tax return.
This limitation only extends to the "simple" deduction norm.
The regular extra deduction number on your refund is provided to a person who is 65 or older or blind.
Therefore, Shonda's standard deduction is 2050 (500+1550).
d. Frazier can not use the standard deduction and should therefore specificity as his wife itemizes.
Answer:
The correct answer is not listed in the options. However, the answer is $23,500. The explanation is given below.
Explanation:
It is important to understand the three levels of possible deductions as dividends are collected from US corporations.
- General rule: DRD is equal to 70% of dividend received
- If the company receiving the dividend owns more than 20% but less than 80% of the company paying the dividend, the DRD amounts to 80% of the dividend received.
- If the company receiving the dividend owns more than 80% of the company paying the dividend, the DRD equates to 100% of the dividend.
From our scenario, Wayne corporation holds the following percent holdings.
Robin Corporation = 40%
Bat Corporation = 90%
==> Using the Third Rule, Bat Corporation owns more than 80% which is 100%, therefore, we have:
$20,000 × 100% = $20,000
==> By using the second rule,
deductible amount = $5,000 × 80% = $4,000
==> By applying the general rule to Robin Corporation, we have
$5,000 × 70% = $3,500
Therefore, the total dividend deductible amount is $20,000 + $3,500 = $23,500
The first step in organizing production is planning the process and developing the project budget and schedule, such as rehearsals and performance review.
<h3 /><h3>What is project planning?</h3>
It corresponds to practices that are implemented at the beginning of the project, which will help achieve the objectives, that is, they are actions that direct the management and structure the details of the project.
Therefore, it is essential that in every project there is a focused and aligned planning to the available resources, such as time and needs, so that the objectives are achieved effectively.
Find out more about planning here:
brainly.com/question/24864915
If the Federal Reserve did not regulate monetary policy, monitor banks, and provide services for banks, then the transactions would be more costly and interest rates will be more.
The Federal Reserve (Fed) in the US manages the economic and financial system in US. It regulate the monetary policy, monitor banks and provide services for banks. They monitor banks so that there will be no more increases in the costs of transactions than the cost agreed by the Fed. Also it will also reduce the possibility of increase in interest rates as the monetary policy is also implemented by the Fed. As a head of the banks, the Federal Reserve also provide services to other banks. In short, the Fed keeps the US economy stable. If they did not regulate monetary policy, monitor banks, and provide services for banks, then it would have been hard to keep this economic stability in US.
Learn more about Federal Reserve at brainly.com/question/382312
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