What causes difference in amount of the standard deduction

Assignment Help Accounting Basics
Reference no: EM132627701

Problem - Critical Thinking Sam and Abby are dependents of their parents, and each earns gross income of $2,100 for the year. Sam's standard deduction for the year is $1,100, and Abby's is $2,450. Because their income is the same, what causes the difference in the amount of the standard deduction?

Reference no: EM132627701

Questions Cloud

Determine two to three benefits of having health insurance : Determine two to three benefits of having health insurance for a family. Specify two (2) avenues through which families may obtain health insurance.
Explore the metropolitan museum of art galleries : Explore The Metropolitan Museum of Art - Galleries. As you explore, reflect on the following and share your answers within your discussion post.
Compute total direct fixed costs : Compute the Total unavoidable costs in case pf production stoppages and Total Noncontrollable direct fixed costs and Total direct fixed costs
The world is flat-thomas friedman : Watch the following video (The World is Flat - Thomas Friedman) and then provide your personal point of view on today's challenges
What causes difference in amount of the standard deduction : Abby's is $2,450. Because their income is the same, what causes the difference in the amount of the standard deduction
Health economics : Take a position that the full implementation of the Affordable Care Act in 2014 will or will not create a market failure for insurance companies.
How specifically you will use the resource in the classroom : When we think about overall well-being, it is important to consider our children and families. For this discussion, you will explore several social.
Western developmental psychology in non-western cultures : Review this Learning Resources and consider the applicability of American/Western developmental psychology to Non-Western countries and cultures.
How are these transactions treated for income tax purposes : Brandi had the following transactions: a long-term capital gain from the sale of land, How are these transactions treated for income tax purposes

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the number of units that must be sold each month

Miller Metal Co. makes a single product that sells for $40.5 per unit. Calculate the number of units that must be sold each month for the firm to break even

  What annual interest rate must she earn

Question - Stacy Willis will invest $28,000 today. She needs $53,152 in 11 years. What annual interest rate must she earn

  Compute the earnings per share data that should appear

compute the earnings per share data that should appear on the financial state ments of Bio Industries as of December

  How much will be reported for wages expense

If Tim's Donuts makes the appropriate adjusting entry, how much will be reported for wages expense on the income statement for the year ending December

  Johnson enterprises inc is involved in the manufacture and

johnson enterprises inc. is involved in the manufacture and sale of electronic components used in small amfm radios.

  Discuss three qualitative factors that might be considered

Toyland, a national chain of discount toy stores, wants to buy 100,000 Dye Monsters at $8 each. Discuss three qualitative factors that might be considered

  What are the journal entries to record this

On January 2, 2017 the city of Namtip issued at 101½ some 30-year, What are the journal entries to record this

  How does the given impact their competitive strategies

How does this impact their competitive strategies? Find an article on the Internet of a business using cost accounting as part of their competitive strategy.

  What impact will delaying recording of sales until january

What impact will delaying the recording of sales until January have on her financial statements for December and January? Who may be harmed

  How many years will it take her to accumulate

Serena Ross has $19,700 to invest today at 11% to pay a debt of $45,399. How many years will it take her to accumulate enough to liquidate the debt

  All of the accounts have normal balances the following

bob company has the following balances on january 31

  Construct a spreadsheet that includes the income statement

The following transaction pertain to 2014 first year of operations of Barlett Company. Construct a spreadsheet that includes income statement and balance sheet.

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