Expenses qualify for a medical deduction by joanne

Assignment Help Accounting Basics
Reference no: EM13150474

Joanne is single and does a lot of business entertaining at home. Joanne's 80-year old dependent grandfather who lived with Joanne, needs medical and nursing care. he moved to Sierra Nursing Home. During the year, Joanne made the following payments on behalf of Aaron:

Room at Sierra $ 9,000
Meals for Aaron 1,700
Doctor and nurse fees 1,400
Cable TV service for Aaron's room 214
Total $12,314

Sierra has medical staff in residence. Disregarding the 7.5% floor, how much, if any, of these expenses qualify for a medical deduction by Joanne?

a. $12,314.

b. $12,100.

c. $10,400.

d. $3,100.

e. None of the above.

Reference no: EM13150474

Questions Cloud

Compute the profit-maximizing level of price and output : If this industry acts like a monopolist in the determination of price and output, compute the profit-maximizing level of price and output
How many bags of potato chips did omar eat : How many bags of potato chips and ice cream bars did omar eat when 88 grams of fat and 1505 calories were consumed?
Journal entries necessary to account for sonny investment : Prepare the journal entries necessary to account for the Sonny investment, assuming that Fredo accounts for that investment as (1) an available-for-sale investment, and (2) elects the fair value option.
How much hcl in grams would be necessary to consume : If a single pill contains 0.150 grams of KCN How much HCl in grams would be necessary to consume all of the KCN
Expenses qualify for a medical deduction by joanne : Sierra has medical staff in residence. Disregarding the 7.5% floor, how much, if any, of these expenses qualify for a medical deduction by Joanne?
Find probability randomly selected braking distance is less : Let x be a random variable that represents a braking distance. Find the probability that a randomly selected braking distance is less than 49 meters.
How much will sulphur dioxide dissolve in water : if 0.80 g of sulfur dioxide at 10.00 atm pressure (pi) dissolves in 5.00 l of water at 25.0 degress celcius how much will sulphur dioxide dissolve in 1 l of water at 9.00 atm pressure (p2) and the same temperature?
Find percentage of students with gpa-s above three : normally distributed with a population mean of 2.5 and a population standard deviation of .5. Compute the following, showing all work: The percentage of students with GPA's above 3.0 is?
Cost assigned to ending inventory : Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d ) LIFO. (Do not round interim calculations. Round per unit costs to three decimals. Round your answ..

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd