im and Martha paid $7,900 in qualified employment-related expenses for their three young children who live...

im and Martha paid $7,900 in qualified employment-related expenses for their three young children who live with the in their household. Martha received $1,800 of dependent care assistance from her employer, which was properly excluded from gross income. The couple had $57,000 of AGI earned equally. What amount of child and dependent care credit can they claim on their Form 1040? How would your answer differ (if at all) if the couple had AGI of $36,000 that was earned entirely by Tim?

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ekkarill92 answered 1 year ago

In 2018, Laureen is currently single. She paid $2,800 of qualified tuition and related expenses for...

In 2018, Laureen is currently single. She paid $2,800 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,800 each for a total of $5,600). Sheri and Meri qualify as Laureen’s dependents. Laureen also paid $1,900 for her son Ryan’s (also Laureen’s dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,200 for herself to attend seminars at a community college...

In 2019, Laureen is currently single. She paid $2,340 of qualified tuition and related expenses for...

In 2019, Laureen is currently single. She paid $2,340 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,340 each for a total of $4,680). Sheri and Meri qualify as Laureen’s dependents. Laureen also paid $1,720 for her son Ryan’s (also Laureen’s dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,220 for herself to attend seminars at a community college...

In 2018, Laureen is currently single. She paid $2,560 of qualified tuition and related expenses for...

In 2018, Laureen is currently single. She paid $2,560 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,560 each for a total of $5,120). Sheri and Meri qualify as Laureen’s dependents. Laureen also paid $1,830 for her son Ryan’s (also Laureen’s dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,330 for herself to attend seminars at a community college...

The Jameson family have three young children, ages 8, 6 & 2. They live in a...

The Jameson family have three young children, ages 8, 6 & 2. They live in a home in an urban area adjacent to a local construction company. The construction company owns multiple construction vehicles, including several back hoes. The property is gated and fenced and there are "NO TRESPASSING" signs posted throughout the property. One day, the Jameson's 8 year old daughter managed to climb through a hole in the company's fence to play on the property. While there, she...

Warren and Erika paid $9,300 in qualified expenses for their son, Cash, to attend the University...

Warren and Erika paid $9,300 in qualified expenses for their son, Cash, to attend the University of Washington. Cash is in his first year of college and attended full-time. How much is Warren and Erik's American opportunity tax credit, without regard to any AGI limitation?

You are the nurse assigned to a young 32-year mother of two young children who was...

You are the nurse assigned to a young 32-year mother of two young children who was recently diagnosed with Chrohn’s disease. She has taken a medical leave of absence form the law firm where she works as a paralegal assistant. Although she has reported adhering to her diet and medication regimen, she has had two recent admissions to the hospital in the past month with a flare-up of her disease. She states she is using Wikipedia for her health care...

You are the nurse assigned to a young 32-year mother of two young children who was...

You are the nurse assigned to a young 32-year mother of two young children who was recently diagnosed with Chrohn’s disease. She has taken a medical leave of absence form the law firm where she works as a paralegal assistant. Although she has reported adhering to her diet and medication regimen, she has had two recent admissions to the hospital in the past month with a flare-up of her disease. She states she is using Wikipedia for her health care...

You are the nurse assigned to a young 32-year mother of two young children who was...

You are the nurse assigned to a young 32-year mother of two young children who was recently diagnosed with Chrohn’s disease. She has taken a medical leave of absence form the law firm where she works as a paralegal assistant. Although she has reported adhering to her diet and medication regimen, she has had two recent admissions to the hospital in the past month with a flare-up of her disease. She states she is using Wikipedia for her health care...

You are the nurse assigned to a young 32-year mother of two young children who was...

You are the nurse assigned to a young 32-year mother of two young children who was recently diagnosed with Chrohn’s disease. She has taken a medical leave of absence form the law firm where she works as a paralegal assistant. Although she has reported adhering to her diet and medication regimen, she has had two recent admissions to the hospital in the past month with a flare-up of her disease. She states she is using Wikipedia for her health care...

determine the deductibility of employee and employment related expenses. What are the criteria that determine whether...

determine the deductibility of employee and employment related expenses. What are the criteria that determine whether you are an employee or an independent contractor? Why is this important from a tax perspective? How does this affect what can be deducted or not? Does this limit the deductibility of certain business related expenses? Provide examples.

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im and Martha paid $7,900 in qualified employment-related expenses for their three young children who live...

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In 2018, Laureen is currently single. She paid $2,800 of qualified tuition and related expenses for...

In 2019, Laureen is currently single. She paid $2,340 of qualified tuition and related expenses for...

In 2018, Laureen is currently single. She paid $2,560 of qualified tuition and related expenses for...

The Jameson family have three young children, ages 8, 6 & 2. They live in a...

Warren and Erika paid $9,300 in qualified expenses for their son, Cash, to attend the University...

You are the nurse assigned to a young 32-year mother of two young children who was...

You are the nurse assigned to a young 32-year mother of two young children who was...

You are the nurse assigned to a young 32-year mother of two young children who was...

You are the nurse assigned to a young 32-year mother of two young children who was...

determine the deductibility of employee and employment related expenses. What are the criteria that determine whether...