6. Adrianna wants to provide retirement income for her dependent parents for 23 years should she die. Adriana earns $67,500 and feels that her parents could live on 70% of that amount. If the insurance funds could be invested at 5.5%, how much life insurance does Adrianna purchase using the desired income method?
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- Virginia and Richard are married taxpayers with adjusted gross income of $28,000 in 2019 If Virginia is able to make a $1,500 contribution to her IRA and Richard makes a $1,500 contribution to his IRA, what is the Saver's Credit Virginia and Richard will be eligible for? $0 $1,500 $2,000 $3,000 $4,000Minnie owns a qualified annuity that cost 78,000. The annuity is to pay Minnie 650 per month for life after she reaches age 65. Minnie turns 65 on September 28, 2019, and receives her first payment on November 1, 2019. a. How much gross income does Minnie have from the annuity payments she receives in 2019? b. Shortly after receiving her payment on October 1, 2034, Minnie is killed in an automobile accident. How does the executor of Minnies estate account for the annuity on her return for the year 2034? c. Assume that the accident does not occur until November 1, 2043. How does the executor of Minnies estate account for the annuity on her 2043 return?Marie wants to provide retirement income for her dependent parents for 35 years should she die. Marie earns $67,500 and feels that her parents could live on 65% of that amount. If the insurance funds could be invested at 5%, how much life insurance does she purchase using the desired income method? Group of answer choices $1,273,499 $1,450,087 $932,743 $877,500
- Belinda, a 55 year old single woman with no dependents, has a $75,000 group term life insurance policy through her employer. Her employer pays the premiums on Belinda's group term life insurance policy. How much per year will Belinda have to include into her gross income associated with the cost of this insurance? Assume the cost of this insurance is $0.43 per month per $1,000 of coverage. Multiple Choice $0 $65 $129 None of the aboveKim paid her nanny $20,000 during 2021 to watch her three children, Finn (3), Rachel (5) and Caitlyn (7) If Kim's AGI is $126,000, what amount of the dependent care credit would she be able to claim? O a. $7,840 O b. $9,800 c. $16,000 O d. $20,000Vickie and her husband Jason have been married for 25 years and are planning to retire this year. Jason's PIA is $2,000. Renee's PIA is $800. Assuming they are both full retirement age, what is their maximum joint retirement benefit under Social Security? $3,000 $2,800 $2,000 O $4,000
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