Answer:
Company ABC and Emily, a single filing taxpayer
The maximum amount excludable from Emily's gross income for the dependent care expenses, which Emily can report on her tax return is $3,000.
Explanation:
a) Data and Calculations for Emily:
Dependent care flexible spending arrangement deduction = $4,500
Fair market value of the on-site dependent care used = $700
Form W-2 reported dependent care assistance = $5,200
Maximum amount excludable from Emily's gross income for the dependent care expenses Emily can report on her tax return is $3,000.
b) According to the IRS records, Emily can exclude or deduct dependent care benefits provided by a dependent care benefit plan, an amount not exceeding $3,000 if one qualifying person was cared for or $6,000 if two or more qualifying persons were cared for. Since the number of persons cared for is not disclosed, it is assumed that Emily cared for only one qualifying person. Therefore, $3,000 is the maximum she is allowed to deduct.
Answer:
1.53 Million
Explanation:
The reason is that the Environment Protection Agency is a qualified organization and donations made to qualified organization are allowable expense under the US tax rules, so the gross income will include a net amount which is the actual amount left for Hal Gore and which is $1.53 million ($2.1 m - 0.57).
The answer is D. Operating, investing, and financing
Answer:
ill do it of you make it more readable
Explanation:
Answer:
The correct option is A, an asset's value is inversely related to the rate of return investors require to purchase it
Explanation:
The asset value is the initial purchase price determined by discounting the future cash flows from the asset to present values using a the required rate of return.
Ultimately, the higher the required return, the lower the present value of the investment whose price is being determined and the lower the discount the rate of return used in discounting relevant cash flows to present values the higher the present values.
