Estimate how many deaths there are annually from tornado and drowning in the United States. Provide an actual number in your answer and explain statistically how you came to that answer.

Info:

DROWNINGS:

From 2005-2014, there were an average of 3,536 fatal unintentional drownings (non-boating related) annually in the United States — about ten deaths per day.¹ An additional 332 people died each year from drowning in boating-related incidents.

TORNADOS:

The following scenarios are based on actual returns and situations that have occurred in this years VITA program. The responses provided here would be similar to those you would provide to actual taxpayers in the event a similar situation would occur.

Scenario

Inez Sanchez, age 49, ITIN # 933-12-1987 is married but has been separated from her husband since March 3, 2017. She is a housekeeper for Acme Hotels Inc. She has four daughters, all born and raised in the U.S. who lived with her the entire year who she fully supports. No one had any health insurance for the entire year

Name Date of Birth Social Security Number Earnings

Polet Sanchez 09/09/2006 454-11-2222 $0

Jessica Sanchez 07/07/2004 453-11-2222 $0

Stephanie Sanchez 05/05/2002 452-11-2222 $0

Juanita Sanchez 03/03/1995 451-11-2222 $8000

For legal reasons, she tells you that she wants to file a paper return. She also wants her refund mailed to her.

Inez’s Refund for 2019 was $4,600.

After completing Inez’s return, she mentions to you that many of her friend’s and co-workers who make about the same amount of money and have the same number of children got almost double of what she is getting?

Obviously, one of the major reasons is that she has an ITIN number and not a social security number which does not make her eligible for EIC. Another reason is because she has a child who is over 24 and makes more than $4250. Lastly she has a child who turned 17 in 2019 and is no longer eligible for the child tax credit

As usual the taxpayer is upset and believes that the return was not completed correctly. As the tax preparer or quality reviewer, your job is to explain to the taxpayer why your work is correct and why this changed occur

In the preparation process, all UIW-VITA procedures were followed and the results of your return are 100% accurate.

Instructions

For the purposes of this scenario, you must explain to Inez why her refund is the way it is. As the tax preparer or quality reviewer, your job is to explain to the taxpayer why your work is correct and why this return resulted in the refund that it did. Remember, you are dealing with a taxpayer who is unhappy with your work. For this assignment, you are not required to re-explain to me the results of the return again. Rather, I am looking for a procedure you would use to assure the taxpayer the result of your work are accurate. Remember, all of the policies and procedures that were used in the preparation process. Be creative.

P. S- This is a class related to tax in USA.

CASE 1-WI-FI INC.

OVERVIEW

Attach Wi-Fi to a broadband modem and any nearby computer equipped with Wi-Fi receptors and you can log on to the Net. Wi-Fi networks, known as hot spots have popped up so tfast that more than 18 million people worldwide have logged on, and the numbers are growing daily. The challenge is to transform this innovation into a global business, developing coherent and dependable networks, coming up with billing systems, roaming agreements, and technical standards. Wi-Fi could extend dramatically the range and expanse of the Web, changing its vary nature.

The potential productivity gains are so compelling that many companies are investing in custom-built systems, without waiting for a fine-tuned industrial version of Wi-Fi to hit the market. As more companies compete, prices are plummeting. It costs only $2,000 to install a hot spot, one-fifth what it was two years ago. Although corporations are interested in the power and flexibility of Wi-Fi networks, many are postponing rollouts in strategic areas until they are convinced it is secure. A possible solution is the overlap between Wi-Fi and the high-speed cellular system, known as Third Generation (3G) that also promises a wireless internet access with broader coverage.

The benefits are impressive: Wi-Fi turns every machine, from laptops to cash registers into network devices. And it fuels demand for always-on broadband connections. The consumer-electronics industry is counting on Wi-Fi, to link a host of appliances in the home. Cellular manufacturers are working on Wi-Fi phones that would let people move seamlessly from Wi-Fi to cellular networks. Starbucks and McDonald’s have installed Wi-Fi networks in their stores to attract new customers and boost sales.

The challenge is to build Wi-Fi into a solid pillar of the networked world. Intel assigned 800 engineers to work on Wi-Fi and in December 2002 joined IBM and AT&T to launch Cometa to build and have running 5,000 hot spots by March 2004. Intel is also building new chips; The Centrino family of chips embeds a Wi-Fi receptor into a laptop computer. Every Dell computer laptop and 70% of H-P consumer offerings will be Wi-Fi ready. However, Wi-Fi isn’t likely to become rock-solid standard until hot spots are dependable, and security systems satisfy the most demanding customers.

DISCUSSION QUESTIONS:

1. Define the product-market within which wireless networks are positioned.

B)Analyze the wireless network market, forecast the future directions of the market, and identify the possible consequences.

C)Indicate possible variables that may be useful in segmenting the wireless networks market

D)-Discuss the innovation challenges confronting companies competing in the wireless network market.

Paul and Tina are age 66 and 62 respectfully. They file a joint return. They have itemized deductions totaling $15,000. They support their 24 year old son, Jed who goes to school on a full time basis. He earns $4,000 per year as a waiter at a restaurant.

Paul and Tina also support a friend Janice who came to dinner one evening and never left. She does not earn any money.

Wages ……………………………………   $170,000

Interest from savings ……………………           12,000

Interest on NYS qualified bonds …………           7,000

Inheritance from Tina’s Aunt Lucy…………       6,000

Alimony paid to Tina’s ex husband                       8,000

Child support from Tina’s ex husband Eric..       10,000

Prize from contest at church……………….          1,000

Dividend from ABC Corp. stock …………           2,000

1. What is Paul and Tina’s gross income?

2. What is Paul and Tina’s adjusted gross income?

3. What is Paul and Tina’s standard deduction?

4. What is Paul and Tina’s tax liability?

Please Compute Gross Income, Adjusted Gross income, and Taxable income based on the following information below.

2. For a survey, one has a target population and a frame from which the sur- vey sample is drawn. Describe two ways a frame can differ from the target population.

3. (c) A local Christchurch organisation wants to find out how people living in Christ- church feel about the Christchurch City Council’s performance. The organi- sation plans to collect responses by surveying people in the central city and several shopping malls throughout Christchurch. Describe the advantages and disadvantages of using this as the survey frame in terms of the target popula- tion. You may wish to define the target population.

4. (d) To select the people in the mall to answer the survey it is planned to just let interviewers choose the people to survey. Explain how this could affect the results and why random sampling is a much better way to sample.

5. (e) Describe another way the data could be collected other than by sampling in malls. Clearly explain why this would provide better coverage of the target population.

Q1 Which of the following taxes is not deductible?

Select one:

a. Goods and Services Tax

b. None of the answers are correct

c. Payroll tax

e. Fringe Benefits Tax

Which of the following amounts is fully deductible?

Select one:

b. Regular giving of $50 per week to the local church

d. A gift of $4,000 to a political party

e. A gift of $3,000 cash to a Deductible Gift Recipient

Q3 Which of the following transactions is fully deductible?

Select one:

a. An allowance for doubtful debts of $6,000

d. None of the answers are correct

e. A bad debt of $880 including GST (relates to sales not previously included as assessable income)

these questions is about chapter 9 of prepare tax documentation for individuals and this chapter will be determine amounts deductible under specific provision of the ACT

- specific deductions under section 8-5   

- tax related expenses

- repairs

-lease document expense

- borrowing expense

-mortgage discharge expense

- bad debit

Taxes are the way our government generates income. Although the richest Io/o of the people in our country pay 39% of the taxes and the bottom 50% combined pay only 2.9% combined, everyone wants things from the government. They want roads and bridges and schools and an army and welfare and Medicaid and concerts and ]..... To provide these things our government has to raise money and cut expenses. Which of the following laws help raise money? Which help cut expenses?

1)Deduction for contribution to the church

2) American Opportunity Credit for attending San Jacinto College

3) Deduction for gift to the American Red Cross

4) Child credit

5) Deduction for mortgage interest

6) Deduction for home equity loan

7) Deduction for savings bond interest used for higher education (2 things)

8) Deduction for health savings account

9) Deduction for student loan interest

10) Adoption credit

11) Earned Income credit

12) IRA deduction

Please read the following article:

"Is the stock market good stewardship?"

As previously discussed in week 3, a direct relationship exists between higher risk and higher returns. In order for an individual or organization to recognize higher returns on their investments, it usually requires the assumption of a higher level of risk. Please answer the following questions:

Is it appropriate for Christians to assume a high level of risk in their investment portfolios? When might it be appropriate?

Is it appropriate for nonprofit organizations who rely upon donations to invest in risky assets such as the stock market?

Assuming there should be limits, what types of investments would or would not be appropriate?

What implications do your positions have for the potential investment income or operations of the nonprofit organization or the individual’s financial position?

1) No Christians are frbidden from gambling. Speculative investments is non-biblical.

2) It might be approporate if the proceeds are directed towards the church only.

3) No. It is not appropriate to use people's donations for speculative purposes.

4) Investing high rated bonds is appropriate.