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Cloud [144]
3 years ago
13

John and Shirley have one child eligible for the Child Tax Credit, file their tax return as married filing jointly and, at a $41

0,000 modified adjusted gross income for 2019, they have an AGI that exceeds the threshold at which the Credit begins to phase out. For what Child Tax Credit would they be eligible?
Business
1 answer:
kondaur [170]3 years ago
4 0

Answer:

Since John and Shirley's income is above that level, $410,000, they will receive up to $1,500 per qualifying child.

Explanation:

The amount of the child tax credit for 2019 is up to $2,000 per child and $500 per dependent, but if the AGI exceeds $400,000 for a married couple filing jointly, it starts to phase out. The credit is reduced by $50 for each $1,000 over the threshold amount.

Since John and Shirley's income is above that level, $410,000, they will receive up to = $2,000 - (10 x $50) = $1,500 per qualifying child.

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To qualify for the quantity discount, which of the following may not be joined together under the definition of any person?
Sedaia [141]

Answer:

C. Father and his 35-year-old son investing in separate account.

Explanation:

Quantity discount when offered relates to one particular account, and not multiple accounts at a time.

In a transaction joint accounts are called as single person where there is only one main account in consideration and no secondary account exists for the same.

As in the given options,

Option A of husband and wife investing in a joint account means a single account is made of which both the husband and wife are controllers.

Option B is of UTMA account which is made for the benefit of the minor child, although involves two people that is parent and child, but is run individually by the parent and is a single account.

Further Option C provides for separate investment accounts , which means two different accounts and therefore are completely different one of father and another of son, thus do not qualify of quantity discount jointly, either of the one account can claim the quantity discount as a person.

4 0
3 years ago
A disadvantage to joining a family business is that _____.
miv72 [106K]
A disadvantage to joining a family business is that: c. one individual must take on all of the financing responsibilities.
Another disadvantage are you can feel trapped, you have no oppurtunity to advancement.

hope this help
4 0
3 years ago
Read 2 more answers
How many credits do you need to be a 11th grader
mina [271]
It really depends on the highschool, we used to have four classes a day, now we have five, before you needed 24-28 to pass and my junior year i had 22 credits now we went to thee 5x5 and have to get a few more credits
3 0
3 years ago
The economic situation of Rutenia is characterized by the following facts: GDP. Strong economic growth, of about 4%. Unemploymen
True [87]

Answer:

See below

Explanation:

Although a great GDP of 4% gives the impression of a strong economy, as is the case here, the inflation rate is much higher than desired. So, economic policies need to be reviewed in order to determine where the problem lies and what steps can be taken to remedy this situation.

3 0
4 years ago
Karishma and Stephen, co-owners of Roundtree Corporation, are discussing a new benefits package they are considering for their e
nalin [4]

Stephen should be more concerned with the shareholder management theory and Karishma should be more concerned with the stakeholder management theory.

The following information should be considered:

For shareholder:

  • It is the owners of the company,
  • It could be equity or preference shareholder.
  • It should be considered when they are limited by shares.

For stakeholder:

  • They are not the owners but have an interest in the company.
  • Each company contains the stakeholder.
  • It includes the creditors, government, etc.
  • It should be considered for the performance of the company.

Therefore we can conclude that Stephen should be more concerned with the shareholder management theory and Karishma should be more concerned with the stakeholder management theory.

Learn more about the management here: brainly.com/question/14874943

6 0
3 years ago
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