What is dominicks earned income credit

Assignment Help Financial Accounting

Reference no: EM13745110

Sammie and her two children, ages 8 and 10, lived with her boyfriend, Dominick, for all of 2014. 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 in 2014. Dominick made $25,000 working as a cashier and has no other income. What is Dominick’s earned income credit?

Reference no: EM13745110

Questions Cloud

Provide some of the raw materials needed in producing rearde : Rearden metals is considering opening a strip mining operation to provide some of the raw materials needed in producing Rearden Metal. The initial purchase of the land and the associated costs of opening up the mining will cost $100 million today. th..

Henwoods self-employment taxes on the income derived : Ralph Henwood was paid a salary of $64,600 during 2010 by Odesto Company. In addition, during the year Henwood started his own business as a public accountant and reported a net business income of $48,000 on his income tax return for 2013.

Analysis of the countrys viability as opportunity for export : Cultural determinants about this country would be most important to you as you reach a decision about whether or not to do business in this country.

Considered earned income for earned income credit purposes : Which of the following items are considered earned income for earned income credit purposes? Taxable pension income (disability benefits) received before reaching minimum retirement age.

What is dominicks earned income credit : Sammie and her two children, ages 8 and 10, lived with her boyfriend, Dominick, for all of 2014. 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 childr..

What is the value of the microbrewery''s depreciation tax : You are considering adding a microbrewery on to one of your firms existing restaurants. This entails an investment of $40,000 in new equipment. This equipment will be depreciated straight line over five years. If your firm's marginal corporate tax ra..

What is the purpose of the corporate alternative minimum tax : What is the purpose of the corporate Alternative Minimum Tax (AMT)? How resourceful is it in terms of providing sufficient tax revenues? Are certain industries impacted by the AMT more than others? Why or why not?

About the total asset turnover : Assume St. Anthony's total asset turnover is 2.5 and the industry median is 1.9. Which of the following conclusions can St. Anthony's managers draw with certainty?

Explain the primary roles of the us federal reserve : Briefly explain the primary roles of the U.S. Federal Reserve, the Federal Reserve Chairman, and the Federal Reserve Board. Indicate each party's effectiveness in today's economic environment. Provide support for your explanation.

User Account

All Pages