Ivanna and Sergio's credit for child and dependent care expenses is $
Q: Marty and Jean are married and have 4-year-old twins. Jean is going to school full-time for 11…
A: A tax is a compulsory contribution or financial charge levied by the government on the income earned…
Q: Linda and Barry, a married couple has the following information for this year: • Linda's Earned and…
A: As per IRS rules, the maximum deduction per child for a qualified expense is limited to 3,000 and…
Q: Mary is a single mother with 2 children: Ted, age 14, and Cindy, age 10. Her adjusted gross inco…
A: The dependent and childcare credit seems to be a tax benefit available to individuals who spend on…
Q: Josh contributes $5,000 toward the support of his widowed mother, aged 69, a U.S. citizen and…
A: Expenses: Expenses refer to the term which is incurred through the business during its course of…
Q: Tim and Allison are married and have two children, ages 10 and 12. Allison is a "nonworking" spouse…
A: Life insurance is a contract between an insurance policy holder and an insurance company. In this…
Q: In which of the following situations will the divorced custodial parent be entitled to the…
A: Divorced custodial parent be entitled to the dependency exemption for the child:
Q: Reba is a single taxpayer. Lawrence, Reba's 84-year-old dependent grandfather, lived with Reba until…
A: Answer are as follows.
Q: Martha has a 3-year old child and pays $10,000 a year in day care cost. Her salary is $45,000. How…
A: Martha has only one dependent child and an adjusted gross income of $45,000. As a result, the child…
Q: Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer…
A: The child and dependent care credit is a credit available to a taxpayer that helps the taxpayer to…
Q: ed and invested well so sh es that her family's living I remain at this level throu her actuary…
A: Solution - PV of her expenses for the rest 50 years (Annual expenses of $120,000) Using a financial…
Q: Carolyn has AGI of 38800 all from earned income and two qualifying children and is filing head of…
A: EIC is primarily for individuals and families who have low to moderate earned income.
Q: The following information applies to the questions displayed below.] ulie paid a day care center to…
A: Child and Dependant Care Credit : It is the relief given by the Government to the taxpayer who spent…
Q: Andy maintains a household that includes a cousin (age 12) a niece (age 18), and a son (age 26).…
A: Given : Cousin (age 12) Niece (age 18), and a son (age 26)
Q: This position determines eligibility for housing assistance and prepares rent calculations. If Ms.…
A: Income received each week=Annual IncomeNo. of weeks in a year
Q: Calculate the total child tax credit and other dependent credit for the following taxpayers. Please…
A: Given: AGI = $ 426,300
Q: he average U.S. family spends about 16% of its income on housing and 12% on household expenses. If a…
A: In this we have to determine the monthly spending on housing and household expenses.
Q: Lola Tinidora, 63 years old, was treated by her grandchildren Alden, Allen, and Ellen to Max's…
A: According to Republic Act No.9994, Senior citizens are resident citizens of Philippines who have…
Q: Martha and Jean are married and have 4-year old twins. Jean is going to school full-time for 9…
A: $900. Jean gets credit for $500, a month of earned income while she attends school for nine months,…
Q: re that 400% of the federal poverty level in his state Jordan he was eligibe for empooyer…
A: A tax liability is a payment owing to a federal, state, or municipal tax body by an individual, a…
Q: Grace provides 52% of the household costs for her widowed mother during the year. Grace claims her…
A: Given that Grace files her return as household since she claims her mother as a dependent as Grace…
Q: For 2019, the maximum amount of expenses that qualify for the child and dependent care credit is the…
A: Child and dependent care credit is a permissible exclusion or deduction that is allowed under the US…
Q: Which of the following criteria has the LEAST impact on determining how much federal aide you can…
A: Federal student aide is provided to students who have enrolled for eligible programs with a view to…
Q: Shaan and Anita are married and have two children, ages 4 and 7. Anita is a “nonworking” spouse who…
A: The answer is stated below:
Q: John and Joan pay $16,500 of qualified adoption expenses in 2018 to finalize the adoption of a…
A: Qualified adoption expenses: - Adoption fees- Court and attorney fees- Travelling expenses- Other…
Q: Shaan and Anita are married and have two children, ages 13 and 15. Anita is a "nonworking" spouse…
A: The actuarial company are following an amount of $20,000 (the new rule) in order to compensate the…
Q: Kevin and Shuang have two children, ages 8 and 14. In 2021 they spend $16,200 on eligible employment…
A: GIVEN Kevin and Shuang have two children, ages 8 and 14. In 2021 they spend $16,200 on…
Q: Jones and his 6 year old son live with uones' father Bidwell for the whole year, Jones has…
A: Ec credit is claimed by the tax payer but if the tax payer is minor then their credit can be claimed…
Q: Jared and Lima began and finalized the adoption of US child with special needs in 3021. Their total…
A: The modified adjusted gross income means that gross income in which some items are added that are…
Q: What is the allowable child credit for H and W?
A: Given information is: Lee & Marie are married and have four dependent children. At the close of…
Q: Martha has a 3-year-old child and pays $10,000 a year in day care costs. Her salary is $45,000.…
A: Qualified person for Child and department care credit can be either of these: Any child who is your…
Q: Benny is supported by the people listed below. 19-year-old child 15-year-old child 67-year-old…
A: The question is related to taxation. The credit amount is up to $3600 in 2021 (previously it was…
Q: Ms. J has a 6 year old son and a 5 year old daughter. J pays $8000 a year as a day care cost. Her…
A: An individual is qualified for a deduction in income tax calculation for any expenses paid towards…
Q: Tax Drill - Credit for Child and Dependent Care Ivanna, who has three children under age 13, worked…
A: Dependent care expenses: Dependents are usually young children, old or disabled family members. The…
Q: Adrienne is a single mother with a 6-year-old daughter who lived with her during the entire year.…
A: Claim of child and dependent care credit: If you (and your spouse, if you are filing a joint return)…
Q: Ivanna who has three children under age 13 worked full-time while her spouse Sergio was attending…
A: You may be able to claim the credit if you pay someone to care for your dependent who is under age…
Q: Child care expenses are generally deductible by the spouse with higher income in a two parents…
A: When the child care expenses are incurred by two parents household then as per the general of Canada…
Q: Mr. & Mrs Grnager both work full time. They have three children ages 16, 6, and 3. In 2021, the…
A: Here the details of qualified expenses which can be used for claiming the child and depend care…
Q: Kristin and Logan have two young children. They have $7,000 of qualified child care expenses and AGI…
A: The tax liability is the total amount that is to be paid on the income earned by an individual,…
Q: Tim and Martha paid $19,600 in qualified employment-related expenses for their three young children…
A: The Internal Revenue Service (IRS) calculates your yearly income tax bill using adjusted gross…
Q: Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was…
A: It is assumed that Sergio is fully employed and have earned $500 for 9 months $500 * 9 months…
Q: Adrienne is a single mother with a 6-year-old daughter who lived with her during the entire year.…
A: The taxpayer is eligible to claim child and dependent care credit if he/she paid expenses for the…
Q: Mrs. Garcia came to the Obstetrics Department of Monroe Health System pregnant and ready to deliver…
A: D. $4560.00 is the correct answer Contractual allowance is the difference between the amount…
Q: Is Mary Jane's father considered a dependant?
A: As per the provisions of Internal Revenue Service (IRS), dependents are the qualified child or any…
Q: Neville and Julie are married and have two children ages 19 and 14. Their adjusted gross income for…
A: The maximum amount that can be claimed for child credit is $2,000 for each qualifying child for the…
Q: Required information [The following information applies to the questions displayed below.) Julle…
A: As per TCJA , the maximum expense allowed as credit is 50% of the expense and the maximum limit of…
Q: If the Potinsky household spends $49,600 annually on all living expenses and long-term debt,…
A: Emergency fund refers to the fund that is used during financial difficulties, or when an individual…
Q: Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer…
A: Child and dependent care expenses are deductible up to $3000 per child and $6000 per two child for…
Q: Larry and Laura Morton have one child. Tina is a 15 year old high sch sophomore. Laura's sister, Meg…
A: Child credit is the amount of benefit that all the American taxpayers receive from the government if…
Q: Benjamin has the following dependents. child age 19 child age 15 mother age 67 How may of these…
A: The question is related to taxation. The credit amount is up to $3600 in 2021 (previously it was…
Q: What amount of child credit will Trey be able to claim for his daughters under each of the following…
A: Child tax credit is the term defined as the tax credit for the parents with the dependent children…
Taxable Income: The amount of adjusted gross income that is liable to be taxed is known as taxable income.
Step by step
Solved in 2 steps with 1 images
- Calculate the total child and other dependent credit for the following taxpayers. Please show your work. Jeremy is a single (head of household) father with $80,100 of AGI and has a dependent 8 -year-old son: ______________________________________________________________________ Jerry and Ann have $100,000 of AGI, file jointly, and claim two dependent preschool children: ______________________________________________________________________ James and Apple have AGI of $417,100, file jointly, and claim three dependent children ages 7,10, and 19): ______________________________________________________________________Eagle Life Insurance Company pays its employees 0.30 per mile for driving their personal automobiles to and from work. The company reimburses each employee who rides the bus 100 a month for the cost of a pass. Tom collected 100 for his automobile mileage, and Mason received 100 as reimbursement for the cost of a bus pass. a. What are the effects of the above on Toms and Masons gross income? b. Assume that Tom and Mason are in the 24% marginal tax bracket and the actual before-tax cost for Tom to drive to and from work is 0.30 per mile. What are Toms and Masons after-tax costs of commuting to and from work?Ivanna who has three children under age 13 worked full-time while her spouse Sergio was attending college for nine months during the year Ivana earned $28,000 and incurred 9100 of child care expenses her percentage chart is 28% for the kids Devana and Surgi has credit for child independent care expenses is 20 is
- In 2021, Ivanna, who has three children under age 13, worked full-time while her husband, Sergio, was attending college for nine months during the year. Ivanna earned $47,000 and incurred $6,400 of child care expenses. Click here to access the percentage chart to us for this problem. Determine amount of Ivanna and Sergio's child and dependent care credit. 900 XTax Drill - Credit for Child and Dependent Care Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during the year. Ivanna earned $28,000 and incurred $9,100 of child care expenses. Click here to access the percentage chart to us for this problem. Ivanna and Sergio's credit for child and dependent care expenses is $1. In 2021, Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during the year. Ivanna earned $47,100 and incurred $10,275 of child care expenses. Click here to access the percentage chart to us for this problem. Determine amount of Ivanna and Sergio's child and dependent care credit. 2. In 2021, Ivanna, who has three children under age 13, worked full-time while her husband, Sergio, was attending college for nine months during the year. Ivanna earned $47,000 and incurred $6,400 of child care expenses. Click here to access the percentage chart to us for this problem. Determine amount of Ivanna and Sergio's child and dependent care credit.
- Tax Drill-Credit for Child and Dependent Care Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during the year. Ivanna earned $28,000 and incurred $9,100 of child care expenses. Click here to access the percentage chart to us for this problem. Ivanna and Sergio's credit for child and dependent care expenses is s 4Marty and Jean are married and have 4-year-old twins. Jean is going to school full-time for 7 months of the year, and Marty earns $56,900. The twins are in day care so Jean can go to school while Marty is at work. The cost of day care is $8,100. TABLE 6.1 CHILD AND DEPENDENT CARE CREDIT PERCENTAGES Adjusted Gross Income Over $0 15,000 17,000 19,000 21,000 23,000 25,000 27,000 29,000 31,000 33,000 35,000 37,000 39,000 41,000 43,000 - - - But Not Over $15,000 17,000 19,000 21,000 23,000 25,000 27,000 29,000 31,000 33,000 35,000 37,000 39,000 41,000 43,000 No limit What is their 2022 child and dependent care credit? X Applicable Percentage 35% 34% 33% 32% 31% 30% 29% 28% 27% 26% 25% 24% 23% 22% 21% 20%Marty and Jean are married and have 4-year-old twins. Jean is going to school full-time for 11 months of the year, and Marty earns $64,300. The twins are in day care so Jean can go to school while Marty is at work. The cost of day care is $10,100. TABLE 6.1 CHILD AND DEPENDENT CARE CREDIT PERCENTAGES Adjusted Gross Income Applicable Percentage Over But Not Over $0 $15,000 35% 15,000 17,000 34% 17,000 19,000 33% 19,000 21,000 32% 21,000 23,000 31% 23,000 25,000 30% 25,000 27,000 29% 27,000 29,000 28% 29,000 31,000 27% 31,000 33,000 26% 33,000 35,000 25% 35,000 37,000 24% 37,000 39,000 23% 39,000 41,000 22% 41,000 43,000 21% 43,000 No limit 20% What is their child and dependent care credit? $4 X
- Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during the year. Ivanna earned $48,300 and incurred $9,125 of child care expenses. Determine Ivanna and Sergio's child and dependent care credit. $_________In 2023, Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during the year. Ivanna earned $57,900 and incurred $6,575 of child care expenses. Click here to access the percentage chart to us for this problem. Determine Ivanna and Sergio's child and dependent care credit.Alicia works at a call center as a 911 operator. She works part-time earning $16.45 per hour, averaging 15 to 30 hours per week, 52 weeks per year. To verify her income, she has provided you with her four most recent bi-weekly pay stubs which show her gross earnings of $674.45, $740.25, $641.55, and $822.50. Alicia became delinquent on her student loans and is currently being garnished $75.00 from each of her paychecks. What is Alicia employment income? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.