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ipn [44]
3 years ago
10

Clark, a widower, maintains a household for himself and his two dependent preschool children. For the year ended December 31, 20

20, Clark earned a salary of $32,000. He paid $3,600 to a housekeeper to care for his children in his home, and also paid $1,500 to a kiddie play camp for child care. He had no other income or expenses during 2020. Before considering any limitation due to tax liability, how much can Clark claim as a child and dependent care credit in 2020
Business
1 answer:
dem82 [27]3 years ago
8 0

Answer:

$,1,326

Explanation:

Calculation to determine how much can Clark claim as a child and dependent care credit in 2020

Using this formula

Amount to claim=Tax rate*(Housekeeper salary+ Amount paid to Kiddie play camp)

Let plug in the formula

Amount to claim=26% *($3,600 + $1,500)

Amount to claim=26%*$5,100

Amount to claim=$1,326

Therefore The amount that Clark can claim as a child and dependent care credit in 2020 is $1,326

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Suppose a foreign investor who holds tax-exempt Eurobonds paying 10.50% is considering investing in an equivalent-risk domestic
timurjin [86]

Answer:

14.58%

Explanation:

Return on Bond is the actual rate that is received by an investor on investment in bond.  

As per given data

After Tax return = 10.50%

Tax Rate = 28%

Deduction of 28% withholding tax will be made on the return of the bond in that country where investment is made and investor will have return net of tax.

We can calculate the after tax return on the bond as follow

After tax return = Before tax return x ( 1 - Tax rate )

10.5% = Before tax return x ( 1 - 28% )

0.105 = Before tax return x ( 1 - 0.28 )

0.105 = Before tax return x 0.72

Before tax return = 0.105 / 0.72

Before tax return =  0.1458 = 14.58%

4 0
3 years ago
Talarczyk Company sold 10,000 Super-Spreaders on December 31, 2017, at a total price of $1,000,000 cash, with a warranty guarant
Greeley [361]

Answer:

Explanation:

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Warranty liability - $40,000

5 0
3 years ago
Doc Xpress has an in-house staff of 35 employees who provide transcriptions of phone and video conferences for a range of client
siniylev [52]

Answer:

external threat

Explanation:

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4 0
3 years ago
Why are brand names and advertising important features of monopolistic​ competition? A. Both of these techniques are needed to c
GenaCL600 [577]

Answer:

B. Both of these techniques can be used to increase the demand for the product.

Explanation:

A catchy brand name and adequate marketing of a product plays a vital role in the relative demand of that product. Coca cola for example has properly advertised its products for decades now and when one thinks of beverage, you think Coke. It's been embedded in ones mind and that is the advantage of proper advertising and proper brand naming.

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Maurinko [17]

Answer:

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Explanation:

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And the most worthy information is the one that allows a person to predict the futuro. For instance, who knows what will be the price of oil in one year.

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