User Account

All Pages

How much may roger deduct

Assignment Help Accounting Basics
Reference no: EM132430358

Question -

In the current year, Roger pays a $4,900 premium for high-deductible medical insurance for him and his family. In addition, he contributed $4,165 to a Health Savings Account.

a. How much may Roger deduct if he is self-employed and earned $86,800? Is the deduction for AGI or from AGI?

Qualifying individuals may make deductible contributions to a Health Savings Account (HSA). An HSA is a qualified trust or custodial account administered by a qualified HSA trustee, which can be a bank, an insurance company, or another IRS-approved trustee.

b. How much may Roger deduct if he is an employee (disregarding 10% AGI floor implications)?

Reference no: EM132430358

Questions Cloud

Calculate the 6 year spot rate : Calculate the 6 year spot rate. Part of the question is understanding how to interpret the stated numbers.
Discuss the elements of juvenile delinquency : Distinguish between ego identity and role diffusion.Discuss the specific issues facing American youth.Understand the concept of being "at risk"
Determine what would be the most likely sales revenue : Determine what would be the most likely sales revenue and the associated margins, both for if the store does bring in the private label and if it doesn't.
What is the pension expense for the year ending : Willow Inc. has a defined contribution plan. What is the pension expense for the year ending 20X1, assuming a discount rate of 5%
How much may roger deduct : How much may Roger deduct if he is self-employed and earned $86,800? Is the deduction for AGI or from AGI
Source of competitive advantage in business environments : Per the textbook, technology is a key driver of change and an important source of competitive advantage in business environments.
Evaluate importance of innovation for long term survival : Evaluate the importance of innovation for the long term survival for your chosen company as well as the industry that your chosen company fits in.
How should the net carrying value of the bonds : On November 1, 2015, Journeyman, LLC purchased 900 of the $1,000 face value, how should the net carrying value of the bonds be shown on balance sheet
Define the different building blocks of cultures : Comparisons of the building blocks that you encountered with those from another culture or your daily culture.Define the different building blocks of cultures

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate vendal maximum depreciation deduction

Vendal Corporation purchased and placed into service $2,300,000 of new office furniture, Calculate Vendal's maximum depreciation deduction for 2015

  Part 11 what is the break-even point bep and why is it

part 11 what is the break-even point bep and why is it important?2 what is the contribution margin cm and why is it

  Calculate the variable overhead cost variance for hermetic

spent $5,200 in variable manufacturing $8,800 in fixed manufacturing overhead costs. Calculate the variable overhead cost variance for Hermetic

  Prepare the entry to correct the prior years depreciation

Assume straight-line depreciation. Prepare the entry to correct the prior year's depreciation

  Prepare the acquisition journal entry for new castle coffee

BAC401 Advanced Accounting I Consolidation & Financial Statement Project. Prepare the acquisition journal entry for New Castle Coffee based on your work above

  Materials and labour budget revisions

Discuss each request below for a budget revision, putting what you see as both sides of the argument and reach a conclusion as to whether a budget revision should be allowed.

  Madison notified bondholders of its intent to call the bonds

Prepare the journal entries for the June 30, 2013, interest payment by Madison and the conversion of the bonds (book value method).

  Prepare a schedule of accounts receivable

Sami Company recorded the following selected transactions during November 2011.

  Capriati corporation commenced operations in early 2012 the

capriati corporation commenced operations in early 2012. the corporation incurred 55130 of costs such as fees to

  Prepare the journal entry to record the transaction

Market interest rates on September 1, 2014 were 3.8%. Prepare the journal entry to record the transaction on September 1, 2014

  Find the marginal tax rate on the income

Scot and Vidia, married taxpayers, earn $40,000 in taxable income and $5,000 in interest from an investment in City of Tampa bonds.

  Paschals parasailing enterprises has estimated that fixed

paschals parasailing enterprises has estimated that fixed costs per month are 115600 and variable cost per dollar of

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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