User Account

All Pages

Can we claim her on our taxes

Assignment Help Accounting Basics
Reference no: EM132464036

You receive the following email from John:

Hey there!

Question problem 1: Hope you are well. My mother moved in with us in January (2019) and we are helping to take care of her. Her income consists of $12,450 in Social Security Benefits, a small pension of $3,600, and interest income of $455. That money goes toward her medical expenses since she has an aid come in to check on her. We pay the rest of her living expenses and she does not contribute to the household expenses. Can we claim her on our taxes? If so, what effect would it have?

Reference no: EM132464036

Questions Cloud

Calculate the probability of getting : Using the binomial distribution formula, calculate the probability of getting exactly 2 "sixes" when you roll a die 7 times. Show your work.
Find the width of the interval that spans the middle : Problem: The following data sets are normally distributed: a) GRE (Graduate Record Exam) individual test scores:
What does the california dream mean to indigenous peoples : According to Chilcote's article, what does the "California Dream" mean to indigenous peoples? What solution does she provide?
What would be the financial advantage of buying carburetors : What would be the financial advantage (disadvantage) of buying 20,000 carburetors from the outside supplier
Can we claim her on our taxes : We pay the rest of her living expenses and she does not contribute to the household expenses. Can we claim her on our taxes? If so, what effect would it have?
Find the value of the test statistic : At the 0.05 level, is there enough evidence to support the director's claim? Find the value of the test statistic. Round your answer to two decimal places
Describe struggle of the pilgrims before coming to plymouth : Describe the struggle of the Pilgrims before coming to Plymouth and after coming to Plymouth. Was their journey worth the struggle? Why did the Pilgrims.
What percentage of students who received a merit : Last year's freshman class at Big State University totaled 5,303 students. Of those, 1,266 received a merit scholarship to help offset tuition costs their fresh
Prepare journal entry requires at july for banff corporation : Prepare journal entry requires at july1, 2019; December 31, 2019 and January 1,2020. for Banff corporation issued $500,000 of 8%

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much would powers spend on direct labor in may

Powers Company prepared static budget for May with an expectation. How much would Powers spend on direct labor in May to have a zero flexible budget variance?

  Prepare the company journal entries

Assume the bonds in IFRS14-3 were issued for $644,636 and the effective-interest rate is 6%. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. (Round to ..

  Create a humorous and entertaining advertisement

The company wrote back, stating that the Harrier jet in the commercial was simply used to create a humorous and entertaining advertisement. They apologized for any misunderstanding or confusion people may have experienced and enclosed some free pr..

  Stabilizing a nations price level and the purchasing power

1 stabilizing a nations price level and the purchasing power of its money can be achieveda. with neither fiscal nor

  Prepare entries for these transactions

Quisp Co. had the following transactions in the last two months of its year ended December 31.

  Discuss some of enforcement of standards issues of the iasb

Discuss some of the enforcement of standards issues of the IASB that are not existent for the FASB?

  Calculate the amount of loan you will need

Have a huge impact on who you marry. Are you going to take on another person's debt or are they going to take on your debt and have a huge impact on if/when you buy a house

  Amount that family income is includible in gross income

The Hightown council refused to increase the town budget. Robert Reed was laid off from work on Aug 4 2010. Earlier in the year he had been temporarily disabled from a job related injury and had received disability benefits. At year end Robert Ree..

  Mississippi company has two decentralized divisions

mississippi company has two decentralized divisions illinois and iowa. illinois always has purchased certain units from

  Find the present value of expected euro dividend stream

What is the present value of the expected euro dividend stream if the euro is expected to appreciate 4.00% per annum against the dollar?

  Identify the revenue-related internal control

Now that you have identified the revenue-related internal control that relates to the five assertions (existence, completeness, accuracy or valuation).

  Determine the amount of overhead

Determine the amount of overhead that would be allocated to the proposed job if 40,000 direct labor-hours are used as the volume-based cost driver.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd