What is the amount of the credit for child

Assignment Help Accounting Basics
Reference no: EM133041696

Question - Tony and Deb have two children, ages 10 and 14. In 2020, they spend $6,600 per year on eligible employment related expenses for the care of their children after school. Tony earned a salary of $25,000 and Deb earned a salary of $80,000. What is the amount of the credit for child and dependent care expenses?

a. $600

b. $1,320

c. $1,200

d. $0

Reference no: EM133041696

Questions Cloud

What are its inventories : Question - A firms current ratio is 1.4, and its quick ratio is 1.0. If its current liabilities are 10,100, what are its inventories
Workplace examples of application : Outline one (1) model or strategy a leader could use to motivate team members at work. The answer should provide a summary of the process and include workplace
Achieve organizational goals and competitive advantage : Write your position on the importance of managing human capital to achieve organizational goals and a competitive advantage.
Explain two opportunities that globalisation might offer brz : Identify and explain two opportunities that globalisation might offer BRZ.
What is the amount of the credit for child : Tony earned a salary of $25,000 and Deb earned a salary of $80,000. What is the amount of the credit for child and dependent care expenses
Explain two opportunities that globalisation might offer brz : Identify and explain two opportunities that globalisation might offer BRZ.
Responsibilities of the chairperson at a meeting : Question: Identify six (6) responsibilities of the chairperson at a meeting. Please provide the complete solution of this problem. (10-150 words)
How much of the total overhead costs will be assigned : Happy Valley Land and Snow Company provides the ABC costing information: Total costs $396,000. How much of the total overhead costs will be assigned
Essay on the effects of work-family conflict on individuals : Write a detailed essay on the effects of work-family conflict on individuals. These could include (but are not limited to) the effects on an individual's work,

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