1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
almond37 [142]
3 years ago
10

Terri, age 16, is a dependent of her parents in 2020. During the year, Terri earned $5,000 in interest income and $3,000 from pa

rt-time jobs. a. What is Terri's taxable income? b. How much of Terri's income is taxed at her rate? c. How much is taxed at her parent's rate?
Business
1 answer:
aleksandrvk [35]3 years ago
6 0

Answer:

A. $4,650

B. $1,750

C. $2,900

Explanation:

A. Calculation to determine Terri's taxable income

TAXABLE INCOME

Earned income $3,000

Add Unearned income $5,000

Gross income & AGI $8,000

($3,000+$5,000)

Less: Standard deduction ($3,350)

(Greater of either $3,000 or $1,050 income earned +$350)

Taxable income $4,650

($8,000-$3,350)

Therefore Terri's taxable income is $4,650

b. Calculation to determine How much of Terri's income is taxed at her rate

TAXED AT TERRI'S RATE​

Taxable income $4,650

($8,000-$3,350)

Less: amount taxed at parents' rate ($2,900)

($5,000-$2,100)

Taxed at Terri's rate​ $1,750

Therefore The amount of Terri's income that is taxed at her rate is $1,750

c. Calculation to determine How much is taxed at her parent's rate

TAXED AT PARENTS' RATE:

Net unearned income=$5,000-$2,100

Net unearned income= $2,900

($5,000-$2,100)

Therefore The amount of Terri's income that is taxed at her parent's rate is $2,900

You might be interested in
Lush Lawns, a new landscaping company, uses the same logo and shade of green in all forms of communication including its online
Fofino [41]

Integrated marketing communications is being used by Lush Lawns to promote its business, as they are using the same logo and shade of green in all forms of communication including its online ads, truck signage, Web site, and business cards.

<h3 /><h3>What is Integrated marketing communications?</h3>

IMC is the process of combining marketing communication aspects such as public relations, social media, and audience analytics to create an integrated marketing communication strategy.

Business development concepts, and advertising into a brand identity that is consistent across many media channels.

Thus they are using Integrated marketing communications.

For more details about  Integrated marketing communications, click here

brainly.com/question/13962154

#SPJ1



5 0
1 year ago
Account balances at the beginning of the year were: accounts receivable, $150,000; and inventory, $260,000. All sales were on ac
den301095 [7]

Answer: That class ain't for you vro.

Explanation:

7 0
3 years ago
Revocation of an offer is valid once it is __________________.
Amiraneli [1.4K]

Revocation of an offer is valid once it is <u>B. received</u> by the offeror (the person making the offer), meaning that it has been communicated to the other party by the offeree.

<h3>What is the revocation of an offer?</h3>

The revocation of an offer is the nullification or canceling of an offer by the offeree.  It becomes effective when the offeree communicates to the offeror before acceptance.

Once the revocation has been communicated, the offer is no longer considered valid and cannot legally be accepted. The implication is that revocation goes into effect immediately it has been communicated to the relevant party.

Thus, revocation of an offer is valid once it is <u>B. received</u> by the offeror.

Learn more about offer revocations at brainly.com/question/26532053

5 0
1 year ago
Read 2 more answers
The managing director of top dog companies
Alexeev081 [22]

Answer:

What???

Explanation:

Jens-Peter Clausen. Managing Director and DE GmbH Partner.

Katrin Clausen. Manager.

Im not sure if my answer is right ▪_▪

4 0
2 years ago
Oligopoly is a market structure that is characterized by a ________ number of ________ firms that produce ________ products.
vlabodo [156]

Answer: small, interdependent; identical or differentiated

Explanation:

This is from Economics 202.

4 0
2 years ago
Other questions:
  • Colton took out a 3 year loan for $2075 at a computer store to be paid back with monthly payments at a 10.7% APR. If the loan of
    14·2 answers
  • For a normal​ good, a decrease in demand is represented as a
    12·1 answer
  • Assume that a customer shops are a local grocery store spending an average of $400 a week, resulting in the retailer earning a $
    9·1 answer
  • Assume that the company wanted to do some advertising in the states where the candidates were campaigning about the benefits of
    13·1 answer
  • Jackson Tires reported net sales of $80 million and total operating costs (including depreciation) of $52 million. Jackson Tires
    14·1 answer
  • The MixingMixing Department of Fresh FoodsFresh Foods had 50 comma 00050,000 units to account for in OctoberOctober. Of the 50 c
    15·1 answer
  • Larned Corporation recorded the following transactions for the just completed month. $80,000 in raw materials were purchased on
    15·1 answer
  • The Engine Division of MurphyMotor Corporation uses 5,000 carburetors per month in its production of automotive engines. It pres
    9·1 answer
  • What level of government is most closely associated with zoning?
    7·1 answer
  • Cathlene runs a cake shop. Her primary goal is to set up the largest chain of cake shops in the city. Another goal of Cathlene's
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!