What amount will Margaret be allowed to deduct

Assignment Help Accounting Basics
Reference no: EM132547788

Question - Margaret owns her own business. She is married filing a joint return. She paid $500 per month for her health insurance. Her husband's employer paid all his health insurance premiums for his family plan, except $35 per month. What amount will Margaret be allowed to deduct for the self-employed health insurance adjustment on Form 1040?

a) $0

b) $3,600

c) $6,000

d) $6,420

Reference no: EM132547788

Questions Cloud

Development of battery-powered electric vehicle : Several years ago, the U.S. Congress canceled funding for the development of a battery-powered electric vehicle. Do you think that was a good decision?
What the total amounts exempted by special laws are : What The total amounts exempted by special laws are? The chairman who works for a company in the private sector receives a monthly basic salary of L.E.
How can manager improve their problem solving skills : How can a manager improve their problem solving skills, explain? A manager can improve their problem solving skills by going the correct techniques instead
What is a gram-negative organism : What is a Gram-negative organism? How does the structure of a Gram-negative organism contribute to its virulence
What amount will Margaret be allowed to deduct : Margaret owns her own business. What amount will Margaret be allowed to deduct for the self-employed health insurance adjustment on Form 1040
Reason for bigger and stronger lumbar vertebrae : What is the functional reason for bigger and stronger lumbar vertebrae?
Find statement of cash flows using the indirect method : Prepare statement of cash flows using the indirect method. Sheffield Corp. Comparative Balance Sheets,For the Year Ended December 31, 2020
Upper respiratory tract structures : Mucous membranes (pseudostratified ciliated columnar epithelia) line most upper respiratory tract structures.
Opportunities in SWOT analysis of Amazon : Presentation as if you were the Manager of that company in charge of the employees. what would you do to resolve the company's problem.

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