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bija089 [108]
2 years ago
10

Simone's (57) husband, Charles, died in 2017, and she has not remarried. Simone's mother, Lucy, lives in a nursing home. Lucy's

only income for 2020 consisted of $17,650 in social security benefits. Simone pays the entire cost of the nursing home and more than 50% of Lucy's support. Simone does not have any children, and no one else lives with her. What is Simone's correct and most favorable filing status
Business
2 answers:
Naddika [18.5K]2 years ago
6 0

Since Simone does not have any children and no one else lives with her, then, her correct and favorable filing status is Head of Household.

Basically, the filing status determines the amount of tax payable that a tax payer is liable to pay to the authority.

The filing status recognized in U.S. includes Single, Married filing jointly, Married filing separately, Head of household and Qualifying widow(er) with dependent child.

Since Simone does not have any children and no one else lives with her, then, her correct and favorable filing status is Head of Household.

Read more about this here

<em>brainly.com/question/14457852</em>

joja [24]2 years ago
3 0

Answer:

Head of household.

Explanation:

Simone is paying Lucy's entire nursing home cost & providing more than 50% of Lucy's support. this make Lucy qualified as Symone's dependents.

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Answer:

10%

25.14 years

Explanation:

A financial calculator can be used to solve these problems

PMT = $-1,100

PV = $5,355.26

FV = 0

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PMT = $-25,000

FV =  $1,387,311

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previously answered this question

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3 years ago
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qaws [65]
<span>1. When John received his W2, he received several copies. Why was he sent multiple copies of this form?

The different copies are for John and each tax return he may file

2. Who sent John this W-2?

John's employer - ProperLiving Widget Engineering & Design


3. How much did John make in wages in the 2014 tax year? (assuming this was John's only job)

I do not know

4. How much did John 'take home' in net pay? (assuming this was John's only job)

I do not know


5. How much did John save in his 401(k) in the 2014 tax year?
I do not know


6. Assume your employer provides health care insurance and deducts your portion of the premiums from your paycheck with pre-tax dollars. Are your health insurance premiums federally tax deductible?
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4 0
3 years ago
Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managi
Anestetic [448]

Answer:

<u>A Star.</u>

Explanation:

The Boston Consulting Group (BCG) matrix depicts a product's market share against the market growth rate. The matrix is also known for it's cow- dog metaphor.

The matrix represents 4 situations namely:

1. Stars : Products with high market share in high growth markets i.e high- high situation.

2. Cash Cows: Products with high market share in low growth markets.

3. Question Mark: Products with low market share in a high growth markets.

4. Dogs:  Products with low market share in low growth markets.

In the given case, the product dominates the market i.e high market share. Secondly, it operates in a high growth market. Which means, the product belongs to the situation of a Star.

8 0
3 years ago
The Timken Company has announced a rights offer to raise $5.1 million. The company's stock currently sells for $34 per share, th
omeli [17]

Answer:

Right price =$33.50

Explanation:

<em>The theoretical ex-right price is the weighted average price at which shares are expected to settle after a right-issue,</em>

<em>It is the weighted average price of value of shares of the before-right price and the right price</em>

Ex-rights price

=(Before-right value of shares + Proceed from rights )/Total number of shares after rights issue

Number of rights issue units = amount to be raised /Right price per share

= $5.1 m/$30 = 170,000 units

Before - rights value = 1,207,000 × $34 = 41,038,000

Proceed from rights = 170,000 × $30 = 5,100,000

The ex-right price = (41,038,000 + 5,100,00)/(1,207,000 +170,000) units

Right price =$33.50

8 0
3 years ago
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