Using cash or debit because it’s much simpler. If using cash you have a confirmed amount to give the person you are buying from
Answer:
The correct answer is option A.
Explanation:
Income tax is a tax imposed by the government on the income earned by the individuals. This income can be from capital and labor. It creates a deadweight loss in the market for labor and capital.
Deadweight loss is the loss to economic efficiency and production caused by a tax. The imposition of a tax creates a tax wedge, this tax wedge leads to a deadweight loss. Deadweight loss due to income tax is the loss of purchasing power or reductions standard of living due to tax.
The inefficiency or tax burden depends upon the elasticities of demand and supply. Whoever has the least elasticity will share most of the tax burden.
Answer:
$760
Explanation:
The tax credit for child and dependent care expenses allows working taxpayers to discount up to 35% of care expenses. The exact percentage that you are allowed to deduct depends on your income:
- if you earn up to $15,000, you can discount 35% of dependent care expenses of up to $3,000 per child.
- the percentage decreases for every $2,000 of income (1% decrease per every $2,000), until your income reaches $43,000 where it remains at 20%.
The Kent's earned $53,000 during the year, so they can claim up to 20% of their children's care expenses = $3,800 x 20% = $760
It’s not for African Americans as a group even with higher levels of income and education.
If peanuts cost .25 per bag, you would divide $10 by .25 to determine how many bags you are able to buy.
