Mary Ann pays the costs for her Aunt Hazel to live in a nursing home. Aunt Hazel receives Social Security benefits of $7,000 a year which are turned over to the nursing home. Mary Ann pays the remaining cost of $33,000. Hazel has no other income. Mary Ann visits Hazel twice a week and meets with doctors and nurses regarding Hazel's medical care. What tax issues should Mary Ann consider?
What will be an ideal response?
Can Mary Ann file as head of household? Would Mary Ann be able to claim Hazel as a dependent?
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Mandisa Sounds, Inc, a specialty retailer of customized audio systems for automobiles, installed a perpetual inventory system in the second quarter of 2011. The new system allowed the firm to adjust its merchandise inventories to sales patterns more
effectively and to prepare monthly financial statements. Although the system led to an improvement in sales and income, the gross margin on the monthly income statements was falling below both management's expectations and the industry average. At the end of 2014, a physical inventory revealed that actual merchandise inventory was considerably lower than the perpetual inventory records indicated. The merchandise inventories of some stores were off more than others, but all had deficiencies. What probably caused these losses and what steps could be taken to prevent them in the future?
An agency that is inferred from the conduct of the parties is called an apparent agency
Indicate whether the statement is true or false
Content validity is a means of isolating and testing for specific traits or characteristics that are deemed essential for job performance
Indicate whether the statement is true or false
A compensation system based on time is most appropriate for jobs in which
A. performance is not easy to measure. B. responsibilities are difficult to understand. C. fringe benefits are an important part of the compensation offered. D. commissions make up a significant portion of compensation received.