Marc and Mikkel make $98,350. AGI is $94,600. AGI was reduced by $33,300. Their annual tax liability is $8,040, and they owe $1,840.
Marc and Mikkel, married, earned $66,500 and $27,000 this year. Municipal and company bonds added $350 and $1,750 to their pay. Marc paid $2,750 in alimony and $3,750 to a typical individual retirement account per the June 1, 2006 divorce order. Mason, their 10-year-old adoptive son, can receive a $2,000 child tax credit. Itemized deductions cost Marc and Mikkel $8,500. $4,200 in federal income taxes. It is:
a) Marc and Mikkel earn bond interest, alimony, and salary.
They earn $98,350: $66,500 + $27,000 + $350 + $1,750 + $2,750.
b) Marc and Mikkel's adjusted gross income is their gross revenue minus certain adjustments. Marc's $3,750 traditional IRA contribution adjusts. AGI is $94,600.
Marc and Mikkel's AGI deductions include their itemized and standard deductions. We utilized their filing status since they didn't state their standard deduction. Married couples filing jointly receive $24,800 in 2020 standard deduction.
They deducted $33,300—$8,500 + $24,800.
Marc and Mikkel's taxable income equals their AGI minus the deduction.
Their taxable income is $61,300.$0-$19,750 (10%), $19,750-$80,250 (12%), $171,050-$326,600 (24%), $414,700-$622,050 (35%), and 37% are the tax rates.
They'll pay $1,975 on their first $19,750 of taxable income, $6,065 on their next $41,550 ($61,300 - $19,750), and 12% on the remaining $80,250, totaling $8,040.
Marc and Mikkel pay $6,040 after a $2,000 child tax credit. Finally, we deduct $4,200 in federal income taxes to get their $1,840 return. Marc and Mikkel's year-end taxes are $1,840.
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Why should you notify your bank and credit card companies if you suspect you are a victim of identity theft?
They can freeze your accounts to help prevent loss.
They can freeze your Social Security number for you.
They can prosecute people who have stolen your identity.
They can ensure you get a job after the investigation
They can freeze your accounts to help prevent the loss, thus Option A is the answer.
as we notify the responsible institutions they will freeze your accounts, to prevent fraudulent activity that could be done with the account in name of the actual account holder, that targets your security as thief could make illegal payments which could be a national threat to your name . so it's important to notify banks to tell about the activities that are done in past days from your bank account.
Identity theft can be so brutal as your information could be transferred to illegal groups that can harm you, and cause you a very high financial loss which is not right.
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You should notify your bank and credit card companies if you suspect you are a victim of identity theft because they can freeze your accounts to help prevent loss. The correct option is A.
What is the difference between a bank and credit card?Your bank account is connected to your debit card. Unless you have an overdraft, which is a form of credit linked to your account, the money you spend or withdraw is typically yours. With a credit card, you have access to a pre-set credit limit through a separate account.
Your bank or credit card provider can act right away to safeguard your accounts and stop any unauthorized transactions after you report the theft. Your accounts may be frozen, your cards may be canceled, and new cards may be issued. By doing this, individuals can contribute to limiting the harm identity theft causes and stop further monetary loss.
Thus, the ideal selection is option A.
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Complete the following sentence.
When preparing to go to an interview, it is best to arrive ____.
Answer:
early
Explanation:
hope this helps :)
Answer:
prepared
Explanation:
true or false: true economic value (tev) is reduced when a customer is not aware of all the features or benefits that a product claims to offer.
true economic value (tev) is reduced when a customer is not aware of all the features or benefits that a product claims to offer," the correct answer is true.
True economic value (TEV) refers to the monetary value that is perceived by a customer in a product, service, or investment. It is determined by the customer's subjective assessment of the product's worth in relation to the price. The perception of the product's value is a combination of the objective attributes of the product, such as quality, durability, and features, and the subjective attributes, such as brand reputation and emotional associations.
When a customer is not aware of all the features or benefits that a product claims to offer, their perception of the product's value is reduced. This can negatively impact the true economic value (TEV) of the product. It is therefore important for companies to communicate effectively with their customers and ensure that they are aware of all the features and benefits that their products provide. This can help to increase the perceived value of the product and enhance the customer's overall experience.
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The tax return filing requirements for individual taxpayers only depend on the taxpayer's filing status.
False, Tax return filing requirements for individual taxpayers are not solely determined by their filing status. Factors such as income, age, and specific circumstances also play a role in determining filing requirements.
The tax return filing requirements for individual taxpayers are not determined exclusively by their filing status. Several factors, including income, age, and specific circumstances, come into play when determining these requirements. The Internal Revenue Service (IRS) establishes different filing thresholds based on these factors.
Therefore, it is crucial to consider these elements alongside the filing status to accurately determine the tax return filing obligations. The taxpayer's income level is particularly significant as it often determines whether they need to file a return.
Additionally, age and specific circumstances, such as receiving certain types of income or claiming particular deductions or credits, can also influence the filing requirements. To ensure compliance with tax laws, individuals should consider all relevant factors when determining their specific tax return filing obligations.
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Complete Question:
The tax return filing requirements for individual taxpayers only depend on the taxpayer's filing status. T/F
Process cost systems assign costs to: view the video both custom jobs and mass produced products. none of these answer choices. specific (e.g. custom) jobs. similar products that are mass produced.
Process cost systems assign costs to similar products that are mass produced.
Process cost systems are used in industries where products are manufactured in large quantities and go through a series of standardized processes or steps. These systems are designed to allocate costs to each process or department involved in the production of the goods.
In a process cost system, costs are accumulated and allocated to the various processes based on the volume of output or some other measure of activity. The costs are then averaged or allocated to individual units of production within each process. This allows for the determination of the average cost per unit produced.
The use of process cost systems is particularly suitable for industries such as food processing, chemicals, refining, and other manufacturing sectors where the production process is continuous and standardized.
Therefore, process cost systems are specifically designed to assign costs to similar products that are mass produced, rather than custom jobs or unique products.
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PLS HELP When did savings account interest rates start falling?
5 points
The late 1980s.
The late 1990s.
The early 2000s.
Answer:
The early 2000's
Explanation:
The table shows the terms of a fixed-rate mortgage.
Which accurately describes the terms of this mortgage? Check all that apply.
The homeowner is borrowing $360,000.
The monthly interest rate is 4 percent.
Monthly payments must be made for 30 years.
The annual interest rate is 4.8 percent.
The homeowner is borrowing $200,000.
Monthly payments must be made for 360 years.
The fixed-rate mortgage concept is used in home loans. Monthly payments for 30 years, the interest rate is 4.8%, and borrowing $200,000.
What is a fixed-rate mortgage?It is usually used in home loans with a fixed interest rate during the term of the loan. It is beneficial because once the rate of interest is fixed it is not influenced by the increase in the rate in the future.
C - Monthly payments for 30 years.
D - The interest rate is 4.8 % annually
E - borrowing $200,000.
Therefore, options C, D, and E explain the fixed-rate mortgage.
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When should a shipment of eggs be rejected?
When should a shipment of eggs be rejected if the The eggs are not delivered at45 degrees F and when you receive a shipment of eggs, you should reject them if any of the eggs are cracked. Eggs that are cracked.
The shipment is the part of supply chain. The shipment in which the goods or products are packed after the process of manufacturing or production.
The eggs are rejected when the eggs got cracked and accidently cracked by the process of delivery to the consumer. Shipment is the important process in the supply chain if the shipment process is not done well, the rejection will arise.
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What is a stock symbol?
Answer:
A stock symbol is an arrangement of characters—usually letters—representing publicly-traded securities on an exchange. When a company issues securities to the public marketplace, it selects an available symbol for its shares, often related to the company name.
Explanation:
Are there advantages to having a system that has strong government oversight and control? Explain!
A recent high school graduate is researching ways she can pay for her college education. She has received three small scholarships, but still needs to pay for
most of the tuition herself. Which of these options may be available to help her pay for her education? Select all that apply.
A. mortgage loan
B. Perkins loan
C. private loan
D. Stafford loan
E. payday loan
E business loan
Answer:
C and D
Explanation:
My expertise is sucking d1ck #Po4n⭐4life
Why is efficiency and effectiveness important in our society?
Answer:
An efficient society is better able to serve its citizens and function competitively. Goods produced efficiently are sold at a lower price. Advances as a result of efficiency have facilitated higher standards of living such as supplying homes with electricity, running water, and giving people the ability to travel.
If you're thinking about whether to be effective vs. efficient, it's important to look at what efficiency and effectiveness mean as well as the result of being efficient versus the result of being effective. According to the dictionary, efficiency is all about doing specific tasks in an optimised way.
mark, a builder, does not have a real estate sales license. he gives betty a lead that results in the sale of a $900,000 home. how can betty compensate mark?
Mark, a builder, does not have a real estate sales license. He gives betty a lead that results in the sale of a $900,000 home. She can give him a gift with a retail value of no more than $50.
Real estate agents and brokers are legally permitted to represent a house seller or buyer during the purchasing or selling of real estate thanks to real estate licenses, authorizations provided by state governments.
In the US and many other nations, real estate brokers and agents must hold a license in order to perform real estate transactions.
To be qualified to acquire a real estate license, a person must complete the state-specific obligatory education requirements. This entails passing an exam as well as finishing pre-licensing coursework at a school with state accreditation.
States also mandate the completion of a continuing education program every two years in order to keep a real estate license.
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fiscal policy refers to the idea that aggregate demand is affected by changes in
Fiscal policy refers to the idea that aggregate demand is affected by changes in Government spending and taxes.
What is fiscal policy?Fiscal Policy refers to government policy of using tax and spending to meet economic goals.
Here, a government adjusts its spending levels and tax rates to monitor and influence a nation's economy.
Hence, Fiscal policy refers to the idea that aggregate demand is affected by changes in Government spending and taxes.
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You want to write a press release about a free new app you're offering. The app allows people to keep track of what they've eaten each day and reports on nutritional value and calories. It also creates customized recommendations for improving your diet. By emphasizing the cost-free nature of this useful tool in the press release, you are primarily relying on which principle of persuasion?
The principle of reciprocity is being used when emphasizing the free nature of the useful tool in the press release, as this principle generates a reciprocal response to individuals.
What is the principle of reciprocity?It corresponds to an approach developed by Cialdini, who states that reciprocity is the first principle of persuasion, as individuals are conditioned to reciprocate favors and concessions to others.
Therefore, by using the principle of reciprocity, emphasizing the free nature of the new app, the company hopes to generate more attention, use and positive response from the target audience as a form of retribution.
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what is enterprise risk management (erm)? multiple choice a process of evaluating internal controls to ensure operations are carried out efficiently and effectively a process designed to identify material events that may affect the financial statements and to manage risk within the entity's risk appetite a process, effected by an entity's board of directors, management, and other personnel designed to identify potential events that may affect the entity and to manage risk within its risk appetite a process by which compliance with laws and regulations can be assessed
Enterprise Risk Management (ERM) is a process, designed to identify potential events that may affect the entity and to manage risk within its risk appetite.
This process is carried out by an entity's board of directors, management, and other personnel. The objective of ERM is to identify and manage risks that could impact an organization's ability to achieve its objectives. ERM is not just about identifying risks but also about understanding their impact on the organization.
It involves a structured approach to assessing risks, determining the likelihood and potential impact of those risks, and developing strategies to manage and mitigate those risks. ERM is a proactive approach to risk management that helps organizations stay ahead of potential risks before they become major problems.
In summary, ERM is a process designed to identify material events that may affect the financial statements and to manage risk within the entity's risk appetite. It is a comprehensive approach to risk management that involves the entire organization in the process of identifying, assessing, and managing risks.
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Which of the following jobs is expected to double in the next few years?
nurse
automobile mechanic
real estate salesperson
computer engineer
Answer:
real estate salesperson
Computer Engineer
I have to write at least 20 characters to post this.
suppose that the demand for bananas is given by p=120-0.5qd and supply is given by p=60 1.5qs. find the market equilibrium.
The market equilibrium for bananas is a price of $105 and a quantity of 30.
To find the market equilibrium, we need to set the demand and supply equations equal to each other:
120 - 0.5qd = 60 + 1.5qs
Simplifying this equation, we get:
0.5qd + 1.5qs = 60
Dividing both sides by 0.5, we get:
qd + 3qs = 120
Now we need to use the fact that quantity demanded (qd) equals quantity supplied (qs) at the equilibrium point. So we can substitute qs for qd in the above equation:
4qs = 120
qs = 30
Now we can substitute qs = 30 into either the demand or supply equation to find the equilibrium price:
p = 60 + 1.5qs
p = 60 + 1.5(30)
p = 105
Therefore, the market equilibrium for bananas is a price of $105 and a quantity of 30.
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ACTIVITY 1
Multiple Choice: Choose the letter of the correct answer
1 It is all about discovering and satisfying your customers' needs and want while earning
a profit
A Marketing
B. Product C Promotion D Needs
2. These are the bundles of attributes and benefits designed to be offered to buyers to
satisfy their needs, wants, and demands
A Promotion B Products C Customer D Market
3 Making sure that they are specific and quantifiable so you can measure your progress
toward achieving them, belong to what step of marketing?
A Marketing objective B Identifying demographics C Defining place
4. What steps of marketing plan where you're referring to the entire set of activities that
inform people about your product/service?
A Marketing objective
B Choose your promotion strategy
C Develop a pricing strategy
5 Defined as the difference between what the customer gains from the product and what
the customers losses from the costs acquiring such a product
A Market
B Customer Value C Promotion
Answer:
A. Marketing.B. Products.A. Marketing objectiveB. Choose your promotion strategyB. Customer Value.Explanation:
Marketing is all about knowing what the customer wants and satisfying it by offering the relevant products.
Products are simply bundles of benefits that were designed to be able to satisfy the needs and wants of customers.
The marketing objectives specify what the goals need to be achieved when marketing so comparing reality against them helps show progress.
The promotion strategy shows the activities that will be undertaken during the marketing of your goods and services.
Finally, the customer value from a product is simply what benefit the customer received less the cost of receiving that benefit.
What is meant by factors of production
The factors of production: In economics, elements of production are the resources humans use to provide items and services.
Production is the method of making or manufacturing goods and merchandise from raw materials or additives. In different words, manufacturing takes inputs and makes use of them to create an output that is healthy for consumption – an awesome product that has a fee to a given up-user or consumer. production is one of the maximum vital tactics within production and is a core part of what it manner to be a producer. without this hobby, no completed items could be created, and there might be nothing to sell to clients.
Production is the method of making, harvesting, or creating something or the quantity of something that becomes made or harvested. An example of manufacturing is the introduction of furniture. An instance of production is harvesting corn to consume. An example of production is the amount of corn produced. There are 3 common sorts of basic manufacturing systems: the batch gadget, the continuous machine, and the mission device. inside the batch device, widespread-cause devices and techniques are used to provide small portions of output (goods or services) with specifications that modify significantly from one batch to the following.
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What are the two factors used to calculate productivity?
A. Goods produced and number of customers
B. Resources invested and goods lost
C. Goods produced and employees hired
D. Goods produced and resources invested
Goods produced and resources invested re the two factors used to calculate productivity.
How productivity is measured?Productivity is measured from different factors in the organization like the profit generate from the sales, number of customer increases, the amount of money invested in the company, the goods that are consumed of sell within span of time and others.
Thus, option D is correct.
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Answer:
Goods produced and resources invested
Explanation:
5. The source document for all cash payments is a sales invoice. (P. 60)
true or false
Answer:
false
Explanation:
A sales invoice is an accounting document addressed to a client informing them of the amount they should pay for the goods or services provided. It details the services or products provided, the date, name of the client, the amount due, among other details. The invoice does not keep information on cash payments.
The check is the document that contains information on cash payments. The checkbook will retain details of all payments, such as amount, payee, and payment date. This data is useful in cash reconciliations.
The source document for all cash payments is a sales invoice. Thus, the given statement is false.
The source document for all cash payments is not a sales invoice. A sales invoice is typically generated when a company makes a sale to a customer, documenting the details of the transaction and serving as a request for payment. However, when it comes to cash payments, the source document is usually a receipt or cash voucher.
A receipt is issued to the payer as proof of payment received, providing information such as the date, amount, payment method, and details of the transaction. Cash vouchers, on the other hand, are internal documents used within a company to track and record cash payments made.
Thus, the given statement is false.
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2. What advice does the model in the video give to consumers? Do you think this is good
advice? Why or why not?
Answer:Model in the video give the consumers have the attitude of keeping it simple.by the use of models in the video, it is simple in that there is a lot of message that is passed hoping that more individuals will b reached by it.
Relatively there I an increasingly marketing procedures that accrue by this process followed by that pull customers upto their fold, this avouda a rwlentless as well as ill-concieved efforts to engage.
Explanation:Model in the video is good.this is because it brings things easier to the consumers as this products is likely to havean intended purchase, and are likely to buy this product more ofteexposing I to the others after abconsideration of given variables of price , perception of that given model brand .
One of the first things to do to prepare for a job interview is to _____. A. Ask for a formal offer letter b. Plan how to spend your first paycheck c. Research the company d. Send a follow-up letter Please select the best answer from the choices provided A B C D.
Answer:
c reasearch the company
Explanation:
Answer:
C is correct
Explanation:
i took the test
Indicate the date that the statute of limitations would run out on each of the following 2021 individual tax returns: a. A fraudulent tax return that was filed April 15, 2022 b. A tax return that was filed May 19,2022 c. A tax return that was filed February 12, 2022 d. A tax return that was filed March 1,2022 , and omitted $15,000 in income. The total gross income shown on the tax return was $50,000
A substantial omission of income, the statute of limitations is extended to six years. Therefore, the statute of limitations would run out on March 1, 2028, six years from the filing date of the tax return.
The statute of limitations for the Internal Revenue Service (IRS) to assess additional tax or initiate legal actions related to individual tax returns is generally three years from the original filing date or the due date of the return is later. However, there are exceptions and certain circumstances that can extend or shorten the statute of limitations. Based on the provided information, the dates when the statute of limitations would run out for each tax return are as follows:
a. A fraudulent tax return that was filed April 15, 2022:
The statute of limitations would run out on April 15, 2025, which is three years from the filing date of the fraudulent tax return.
b. A tax return that was filed May 19, 2022:
The statute of limitations would run out on May 19, 2025, which is three years from the filing date of the tax return.
c. A tax return that was filed February 12, 2022:
The statute of limitations would run out on February 12, 2025, which is three years from the filing date of the tax return.
d. A tax return that was filed March 1, 2022, and omitted $15,000 in income:
For cases involving a substantial omission of income (more than 25% of gross income shown on the return), the statute of limitations is extended to six years. Therefore, the statute of limitations would run out on March 1, 2028, which is six years from the filing date of the tax return.
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Who's your favorite music artist?
Answer:
well i like kpop but i cant seem to choose between the groups txt, nct and ateez
Explanation:
Individual assignment - Discuss the main importance of research in business. - Explain the different types of research and their purposes. - Please report to both points in details, give real life examples, and use your own words. - Don't forget to reference your report. - Report is MS word file (1000 words), font 12 and 1.5 spaces. - You will be given 10 minutes for presentation. - Assignment is due on Monday 19th , September 2022. Please upload on the portal before class time. Outline 1. Introduction 2. Definition of key terms 3. Body 4. Conclusion 5. References
The main importance of research in business is to gather information and data that can help make informed decisions, identify opportunities, and solve problems.
Research provides businesses with valuable insights into market trends, customer preferences, and competitor strategies.
1. Market research: This type of research focuses on gathering information about the target market, including customer needs, preferences, and behaviors. It helps businesses understand their target audience, identify market opportunities, and develop effective marketing strategies. For example, a new smartphone company may conduct market research to determine the demand for specific features and price points.
2. Product research: This type of research is conducted to gather information about a particular product or service. It involves studying customer feedback, conducting usability tests, and analyzing competitors' offerings. Product research helps businesses improve their products, identify potential issues, and make informed decisions about product development and marketing. For instance, a cosmetic company may conduct product research to test the effectiveness and safety of new skincare products.
3. Competitive research: This type of research involves analyzing competitors' strategies, strengths, and weaknesses. It helps businesses understand the competitive landscape, identify unique selling points, and develop effective competitive strategies. For example, a restaurant owner may conduct competitive research to analyze the menus, pricing, and customer service of rival establishments.
4. Financial research: This type of research focuses on analyzing financial data and market trends to make investment decisions, evaluate the financial health of a business, and forecast future performance. Financial research helps businesses make informed decisions about budgeting, pricing, and investment opportunities. For instance, a financial analyst may conduct financial research to evaluate the profitability of a potential investment.
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There will be a higher equilibrium price and lower quantity if _____.
Answer:
Reduction in supply
Explanation:
Equilibrium is when demand matches supply. At the equilibrium price, the market has no excess demand or supply or demand. Changes in either supply or demand affects the equilibrium price and quantity.
A reduction in supply while demand remains constant results in buyers competing for few products in the market. A scarcity will emerge as the supply cannot satisfy demand. The supply curve shifts outwards or to the right creating a new equilibrium point. The new price will at a higher point in the graph, and the quantity will decrease.
Write "True" if the statement is correct & "False" if the statement is incorrect.
Answer:
where's the question?
Explanation:
In the short run, a perfectly competitive firm should shut down whenever minimum average variable cost exceeds price minimum average variable cost exceeds price A minimum average total cost exceeds price minimum average total cost exceeds price B marginal revenue exceeds marginal cost marginal revenue exceeds marginal cost C marginal cost exceeds marginal revenue marginal cost exceeds marginal revenue D it is losing money
Answer:
A. minimum average variable cost exceeds price.
Explanation:
In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.
This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.
Hence, a perfectly competitive market is characterized by the following features;
1. Perfect information.
2. No barriers, it is typically free.
3. Equilibrium price and quantity.
4. Many buyers and sellers.
5. Homogeneous products.
Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market
In the short run, a perfectly competitive firm should shut down whenever minimum average variable cost exceeds price.
However, the firms always strive to maximize profits by increasing their level of output, such that P = MC. Also, the firms wouldn't be willing to leave or enter into the market because they are not making any profit, such that P=AC.