Curtis Williams is 69 years old. His wife, Mary Williams, is 67 years old. Curtis and Mary plan to file a joint return. Mary is legally blind. IRS provides high standard deduction to married couples who have age of 65 or above and blind or one of the partner is legally blind.
IRS states that if filling for joint return is done by married taxpayers in the year 2022 then normal standard deduction is $25,900. In this case Curtis and Mary both are over the age of 65 and Mary is blind too then as per IRS guidelines they will get $1,400 deduction per person for being above 65 plus Mary will get additional $1,400 deduction for being legally blind.
$25,900 + $1,400 + $1,400 + $1,400 = $30,100
Hence, Curtis and Mary's standard deduction is $30,100.
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Answer:
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Linda is making investments with these kinds of purchase.
What is an investmen?
- Assets purchased or invested in with the intention of boosting wealth and allocating money from wages or capital gains are referred to as investments.
- The main goal of an investment is to produce extra income or profit over a specific time period.
- Investing is a smart way to put your money to work and could make you richer. If you make smart investing choices, your money may increase in value and outpace inflation.
- The key causes of investment's greater growth potential are the strength of recurrence and the trade-off involving risk and return.
Buying an item at a bargain and then selling it for more money is the simplest way to comprehend how investing works.
The term for this kind of investment return is.
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Answer:
Date Account titles and Explanation Debit Credit
31 Aug. Bad debt expense $136,561
($143,495 - $6,934)
Allowance for doubtful accounts $136,561
(To record computed allowance)
The answer that best completes the statement above is DERIVED DEMAND. C<span>ompany X must understand that this demand is actually derived demand. When we say derived demand, this is the type of demand that is influenced by the changes in the price of other related services or goods. A very good example for this is the increased demand for furnitures. Therefore, the demand for the wood used for this increases and so the price increases too. </span>
