Assume that Donna, Melissa, Morris, and Kevin each earn less than $4,150. How many dependents can John claim?
John supports Kevin, his cousin, who lived with him throughout 2018. John also supports three other individuals who do not live with him:
Donna, who is John's mother
Melissa, who John's stepsister
Morris, who is Kevin's brother
A) 1
B) 2
C) 3
D) 4
C) 3
John can claim three dependents—Kevin, Donna, and Melissa. Morris is John's cousin and does not qualify as a dependent since he doesn't live in John's home. A cousin is not related for tax purposes and would have to live in the taxpayer's home to be claimed as a dependent.
You might also like to view...
The present value of $5,000 to be received in 4 years at a market rate of interest of 6% compounded annually is$3,636.30
a. True b. False Indicate whether the statement is true or false
Farmer Co. is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and not repeatable. If the decision is made by choosing the project with the shorter payback, some value may be forgone. How much value will be lost in this instance? Note that under some conditions choosing projects on the basis of the shorter payback will not cause value to be lost. r =10.25% Year0 1 2 3 4 CFS?$950 $500 $800 $0 $0 CFL?$2,100 $400 $800 $800 $1,000
A. $24.14 B. $26.82 C. $29.80 D. $33.11 E. $36.42
A partner has implied authority to:
a. hire and fire employees necessary for operation of the business. b. purchase property necessary for the business. c. receive performance of obligations due the partnership. d. bring legal actions to enforce claims of the partnership. e. All of these.
Zoe, who works as a retail clerk, wishes to talk with her co-workers about organizing a union. Her employer forbids her from talking with other workers about union activity in the presence of customers and threatens to fire her if she joins the union. Does the employer have a legal right to make this threat to Zoe?
A) Yes, the employer may prohibit its employees from discussions about union organizing. B) Yes, but only if expressly authorized by state law. C) No, an employee has the right of free speech at anytime. D) No. An employer may limit the time and place of conversation, but may not threaten to fire the employee.