How much can mike and rose deduct

Assignment Help Accounting Basics
Reference no: EM133177934

Question - Mike and Rose are married and file jointly. Mike earns $45,000 from wages and Rose reports $450 of net profits (after self-employment taxes) from her Schedule C business as an artist. Since Mike's work does not offer health insurance, Rose pays the following health insurance premiums from her business account:

Family health insurance $9,500

Family dental insurance 1,000

Required - How much can Mike and Rose deduct as self-employed health insurance?

Reference no: EM133177934

Questions Cloud

Develop parallel version of factorial calculation program : Develop parallel version of factorial calculation program for distributed memory using MPI. The sequential version is given below to start with
What objections are you most likely to get : You are responsible for booking events at Premier Hotel, a five-star hotel. What objections are you most likely to get
What commands might you look for : What commands might you look for and When attacker C2 traffic is visible and stands out the most in network traffic, this is referred to as using
What shall we gain : We want to switch to a 4 year 8% bond with a market rate of 6%. What shall we gain if we act on our expectation, and it transpires
How much can mike and rose deduct : Mike and Rose are married and file jointly. Mike earns $45,000 from wages and Rose reports $450 of net profits. How much can Mike and Rose deduct
How do we initialise a new empty git repository : How do we initialise a new empty git repository in the current directory and Write a simple Unix shell command that will output all the lines containing
What the direct-labor efficiency variance : Direct labor used in production: 45,000 hours at a cost of $639,000 - What the direct-labor efficiency variance
What is the amount of the monthly payment : An mortgage of $250000 is amortized at 25 years, with an interest rate of 3.2% compounded semi- annually. What is the amount of the monthly payment
Calculator application that meets the requirements : Using Flutter on android studio, please write a Calculator Application that meets the requirements - Support the four main functions, add, subtract, multiply

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compare and contrast the analytic tree approach with the

compare and contrast the analytic tree approach with the fault tree analysis approach. consider the pros and cons of

  What is your take regarding the profit motive

What is your take regarding the profit motive? What are the pros and cons to this way of doing business? Please discuss

  Discuss the homemade dividend concept with dividend policy

what is the implication of the homemade dividend concept with dividend policy

  Find the percent of markdown on the original price

Question - A camp stove originally priced at $49.95 is marked down to $35.25. Find the percent of markdown on the original price

  What amount of cash was received from the bank

What amount of cash was received from the bank? Foremost Company received from a customer a one-year, P500,000 note bearing annual interest of 8%.

  How much of the foregoing shall be initially recorded

Initial lease payment of P300,000; and promotional fees of P300,000. How much of the foregoing shall be initially recorded as intangible assets?

  Find accumulated depreciation on machinery as of december

Find accumulated depreciation on the machinery as of December 31, 2020 is? The new machine is estimated to have a useful life of 10 years and a residual value

  What is the sales volume from each market

What is the sales volume from each market? What is the sales trend for each market for the last 2 years? What is the net operating profit for the past year?

  How much interest expense does bryant pay to the credit card

Due to poor spending habits, Bryant has accumulated $5,000 in credit card debt. He has missed several payments and now the annual interest

  Compute the direct labor variances for the month

A total of 11,700 direct labor-hours were worked. Compute the direct labor variances for the month

  Carson morris worked two separate jobs for horwath company

carson morris worked two separate jobs for horwath company during the week. job a consisted of 36 hours at 16.00 per

  Community health center is considering spending 50000 on a

community health center is considering spending 50000 on a blood analyzer. the annual cash profits from the machine

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