Congress has the power to create special courts. True False

Henry and claudia can claim alyssa for which tax benefits

34kurt

Considering that Alyssa is their young daughter, United States has an astounding number of tax credits and deductions that are geared towards taxpayers with children, they could claim: Credits, Deductions, exemption, Education Benefits, Education Deductions, and Education Credits, among others.

6 0

3 years ago

In 2021, Carson is claimed as a dependent on his parents' tax return. His parents report taxable income of $200,000 (married fil

serg [7]

Carson's tax liability for 2021 as a 23-year full-time student, who earns from the summer internship and part-time job and receives a qualified dividend is $645.

<h3>What is tax liability?</h3>

Tax liability refers to the amount that a taxpayer is obliged to pay.

The tax liability is a function of the taxpayer's taxable income, tax bracket, deductions, and applicable tax rate.

In this case, we have assumed a flat tax rate of 10% for both Carlson's earned income and the dividend income.

<h3>Data and Calculations:</h3>

Earned income = $14,000

Qualified Dividend income = $5,000

Adjusted taxable income = $6,450 ($19,000 - $12,550)

Tax liability = $645 ($6,450 x 10%)

Thus, Carson's tax liability for 2021 is $645.

Learn more about tax liabilities at brainly.com/question/7409145

4 0

2 years ago

Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells for $39,000. Assuming that she put

Leokris [45]

Incomplete question. Here's the remaining part that completes question;

(Use the Table 15.1(a) and Table 15.1(b)). (Round intermediate calculations and your final answers to the nearest cent.)

Monthly payment

a. 25 Years, 10.5%

b. 25 Years, 11.5%

c. 25 Years, 12.5%

d. 25 Years, 14.0%

Answer:

Monthly payment is $104 for each assumption

Total interest cost

a. $3,276

b. $3,588

c. $3,900

d. $4,368

Explanation:

Total balance left = $39,000-$7800 (20% of Cost of cottage)=$31,200

a) For monthly payment

$31,200/300 months (equivalent For 25 years) = $104

Total cost of Interest= monthly Interest% x monthly payment x 300 months= 10.5% x $104 x 300 months = $3,276.

b) For monthly payment

$31,200/300 months (equivalent For 25 years) = $104

Total cost of Interest= monthly Interest% x monthly payment x 300 months= 11.5% x $104 x 300 months = $3,588.

c) For monthly payment

$31,200/300 months (equivalent For 25 years) = $104

Total cost of Interest= monthly Interest% x monthly payment x 300 months= 12.5% x $104 x 300 months = $3,900.

d) For monthly payment

$31,200/300 months (equivalent For 25 years) = $104

Total cost of Interest= monthly Interest% x monthly payment x 300 months= 14% x $104 x 300 months = $4,368.

7 0

3 years ago

A __________ is a written document that details the business idea, the target market and the business's competitive advantage, f

Alina [70]

Answer:

business plan

Explanation:

A business plan is a written document that details the business idea, the target market and the business's competitive advantage, financial resources available for the business, and the qualification of the management.

7 0

3 years ago

A coffee shop buys 2000 bags of their most popular coffee beans each month. The cost of ordering and receiving shipments is $12

aleksley [76]

Solution :

The optimal order quantity, EOQ = $\sqrt{\frac{2 \times \text{demand}\times \text{ordering cost}}{\text{holding cost}}}$