What is Kevin allowable rebate for the current tax year

Assignment Help Accounting Basics
Reference no: EM132569452

Question - Kevin has an invalid brother JO who lives with him. JO receives a disability support pension. What is Kevin's allowable rebate for the current tax year under the following scenario?

1. JO has no adjusted taxable income and Kevin has adjusted taxable income of $80000

2. JO has adjusted taxable income of $1500 and Kevin has adjusted taxable income of $80000

3. Jo has adjusted taxable income of $ 2000 and Kevin has adjusted taxable income of $ 160000.

Reference no: EM132569452

Questions Cloud

Find what insights does the cash flow statement : Find What insights does the cash flow statement provide about the company's performance, in relation to other financial statements?
Identify different personality types or behaviors : As a leader, it is expected for you to be able to identify with the workers within the organization. This process can take place during basic observation.
Media options traditional vs. modern social media : Table or chart of differences between the two media options traditional vs. modern social media in regards to audience, reach, channel,
Explain personal financial management : Explain personal Financial management and why it is important to your professional success. What tips could you give to a colleague who may be struggling.
What is Kevin allowable rebate for the current tax year : Kevin has an invalid brother JO who lives with him. JO receives a disability support pension. What is Kevin's allowable rebate for the current tax year
Cut off frequency radius of the ideal filter : What can you observe when increasing the cut off frequency radius of the Ideal filter and What can you observe when increasing the order of the Butterworth
Prepare an estimate of the resources : Prepare an estimate of the resources (operational, human, and length of time) that are needed to implement each of these recommendations.
What are digital native and digital immigrant : What are a digital native and a digital immigrant? Which of the characteristics described contribute most to your placement in either group?
Organizational behavior : The field of organizational behavior can be organized around three levels: individual level, team level, and organizational level.

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