What can cause the difference in their standard deduction

Assignment Help Accounting Basics
Reference no: EM133363292

Question: Richard and Patricia are dependents of their parents, each has an income of $2100 for the tax year. Richard's standard deduction for the tax year is $1050 and Patricia's standard deduction for the tax year is $2450. They each have the same income amount, what can cause the difference in their standard deduction amounts? Explain.

Reference no: EM133363292

Questions Cloud

Water tap and electrical box on each stand : The camping ground is divided into 100 stands, with a water tap and an electrical box on each stand.
Should the use of gene therapy be limited : Would you advocate the use of gene therapy in this case? Should the use of gene therapy be limited? Who should decide those limits
Analyze and interpret data to identify the relationships : Analyze and interpret data to identify the relationships among wavelength, frequency, and energy in electromagnetic waves and amplitude and energy
What is licensing : What is Licensing? How this strategy will help Nokia in capturing back the market?
What can cause the difference in their standard deduction : Richard and Patricia are dependents of their parents, each has an income of $2100 for the tax year. Richard's standard deduction for the tax year is $1050
How do you think humans play a role in helping bacteria : How do you think humans play a role in helping bacteria to develop resistance to antibiotics? What are some things we do to cause this problem?
Who knows if she will get pregnant again : Maria thinks a multiple birth would be good. With their problems, who knows if she will get pregnant again? But Mark has read that the more embryos
What is an appropriate estimate of havasham terminal value : What is an appropriate estimate of Havasham's terminal value as of the end of 2017 using the perpetual-growth equation as your estimate?
Differences between endorphin and opiate drugs : Explain the differences between endorphin and opiate drugs. How does cocaine affect the nervous system? How do amphetamines affect the nervous system

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