Explain how tax planning may allow a deduction of qualified medical expenses.
What will be an ideal response?
Medical expenses may be pushed into one year so that the total exceeds 7.5% of the taxpayer's AGI. New eyeglasses, contact lenses, or other non-time sensitive dental treatments are examples.
If medical treatment has already been received, the medical expenses may be pushed into one year by borrowing cash to pay the expenses or by using a credit card.
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A box of Crest toothpaste contains a coupon entitling the buyer to save 50 cents when purchasing a Crest toothbrush. What type of sales promotion does this represent?
A) cross coupon B) product placement coupon C) trade promotion coupon D) freestanding coupon E) online coupon
Which of the following is not one of the three aspects of the selection criteria identified by Lewis (1985) that are essential to credible decision-making:
a. individual job criteria b. functional/departmental criteria c. team criteria d. organisational criteria
The cost object(s) of the activity-based costing method is(are):
A. The production departments of the company. B. The production activities in the first stage and the unit of product in the second stage. C. The time period. D. The unit of product in the first stage and the production activities in the second stage. E. The production activities of the company.
A Type 2 service auditor's report addresses:
A. Control operating effectiveness and primary assertion reliability. B. Only control operating effectiveness. C. Management's description and design of its controls and control operating effectiveness. D. Only management's description and design of its controls.