What is dominick earned income credit

Assignment Help Accounting Basics
Reference no: EM132223949

Question - Sammie and her two children, ages 8 and 10, lived with her boyfriend, Dominick, for all of 2017. The children are not Dominick's children but he provided all of their support. He can claim them as dependents because they are not the qualifying children of another taxpayer. Sammie did not work and had no other income. Dominick made $25,000 working as a cashier and has no other income. What is Dominick's earned income credit?

a. $2,281

b. $4,143

c. $0

d. $4,133

Reference no: EM132223949

Questions Cloud

Ethics-personal perspective : If your view or conception did not change, why do you think this is case? How can what you learned in course be applied in your professional and personal life
Determine the price of NVIDIA common stock : Suppose that NVIDIA Corporation (NVDA) stock is selling for $150.00. Based on the above assumptions, determine the price of NVIDIA's common stock
Find the compound amount after five years : An investment pays 7% interest per year compounded semiannually. Given an initial deposit of 4,500: Find the compound amount after 5 years
What is the current yield on the stock : Winslow Corporation's preferred stock is selling for $110 per share in the market. What is the current yield on the stock
What is dominick earned income credit : Dominick made $25,000 working as a cashier and has no other income. What is Dominick's earned income credit
How many months of child care expenses they deduct : The taxpayer had a qualifying child who is not disabled and who turned age 13 on May 31, 2017. How many months of child care expenses can they deduct
Make an income statement : Use the preceding information to make an income statement, a statement of changes in stockholders' equity, and a balance sheet for the company
Application of type of advocacy plan to other issues : Application of this type of advocacy plan to other issues and problems. Would this plan only work on this topic or is it generalizable to other topics
Discussion - planning and controlling decisions : Discussion - Planning and Controlling Decisions: Explain the difference between a centralized company and a decentralized company

Reviews

Write a Review

Accounting Basics Questions & Answers

  Theory of interestnpv irr nominal and real amortization

theory of interestnpv irr nominal and real amortization sinking fund twrr dwrr1. given npv-1000500v3800v8 and a rate of

  Determine the direct labor cost budget

determine the direct labor cost budget for 2016. Do not round your intermediate calculations but, if required, round your final answer to the nearest dollar

  Prepare a classified year-end balance sheet

Prepare a classified year-end balance sheet. (Note: A $22,000 installment on the long-term note payable is due within one year.)

  What gain or loss would be recognized on the called bonds

On 9/1/09, $6,000,000 of the bond are called at 102 plus accrued interest. What gain or loss would be recognized on the called bonds on 9/1/09

  Prepare a depreciation schedule

Prepare a depreciation schedule (i.e. for the six-year period) for each depreciation method, showing asset cost, depreciation expense and asset book value

  What is the conversion value of the bond

Each debenture can be converted into 25 shares of common stock at any time before 2019. What is the conversion value of the bond

  Create a risk assessment process for it functions

Create a risk assessment process for IT functions, Include a test of control activities in the five categories: authentication

  What is the net cash provided by investing activities

In Gentry Company, land decreased £360,000 because of a cash sale for £360,000. What is the net cash provided by investing activities.

  Calculate the cash collections from sales for each month

Calculate the cash collections from sales for each month from January through March. (Do not round intermediate calculations and round your final answers to 2 decimal places (e.g., 32.16).)

  Calculate the stamp duty payable in new south wales

Certificate IV in Accounting - FNS40615 - Based on your calculations, state which method is the most beneficial method for the employer for assessing the FBT

  Prepare a partial balance sheet for nike

Prepare a partial balance sheet for Nike for these items.

  What is the break-even point per month in sales dollars

Clyde's Marina has estimated that fixed costs per month are $300,000 and variable cost per dollar of sales is $0.40. What is the break-even point per month

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