Compute mr and mrs boazs alternative minimum taxable incomeo

Assignment Help Financial Management
Reference no: EM13887619

Mr. and Mrs. Boaz file a joint return on which they claim their four children (all over age 14) and Mr. Boaz's mother as dependents. Their AGI is $134,300, and they have the following itemized deductions:

State income tax...$ 7,925

Local real and personal property taxes...5,122

Qualified interest on a home equity loan...4,377

Charitable contributions...5,330

Miscellaneous itemized deductions...769

$23,523

On the basis of these facts, compute Mr. and Mrs. Boaz's alternative minimum taxable income (AMTI) before any exemption amount.

Reference no: EM13887619

Questions Cloud

Strong-field zeeman splitting : Consider  the  (eight)  n  = 2  states,  12 / m1 ms}.  Find  the  energy  of each  state, under  strong-field  Zeeman  splitting.  Express each answer as the sum of three tenns:
Compute the current ratio as of the beginning of the month : Compute the current ratio as of the beginning of the month and after each transaction. Compute the acid-test ratio as of the beginning of the month and after each transaction.
Compute mrs gomezs recognized gain or loss on the sale : Mrs. Gomez, a widow, paid $148,000 for her home 20 years ago. She recently sold this home and moved in with her son on a permanent basis. Compute Mrs. Gomez's recognized gain or loss on the sale assuming that her amount realized was: a. $140,000. b. ..
Teach the abortion issue in medical school? : differences between a physician refusing to perform an abortion and a physician refusing to participate in assisted suicide?
Compute mr and mrs boazs alternative minimum taxable incomeo : Mr. and Mrs. Boaz file a joint return on which they claim their four children (all over age 14) and Mr. Boaz's mother as dependents. Their AGI is $134,300, and they have the following itemized deductions:On the basis of these facts, compute Mr. and M..
Analyze the pros and cons of ambulatory services : Analyze the pros and cons of ambulatory services
Find amount and percentage changes using horizontal analysis : Summary financial information for Rapture Company is as follows. Compute the amount and percentage changes in 2014 using horizontal analysis, assuming 2013 is the base year.
Describe how terrorist groups use social media : Describe how terrorist groups use social media
How much of the annual receipt is included in ann agi : Ann Moore receives a $1,000 monthly payment from her former husband Bill. How much of the $12,000 annual receipt is included in Ann's AGI under each of the following assumptions? a. The monthly payment is alimony that Bill is required to pay under th..

Reviews

Write a Review

Financial Management Questions & Answers

  Stock dividend-dividend is paid

An investor owns 1000 shares of stock in ABC Corp. with a market value of $1,200. ABC declares a 20% stock dividend. After the dividend is paid, John owns____________

  What was the cash coverage ratio for the year

Hedgepeth Inc.’s net income for the most recent year was $16,185. The tax rate was 40 percent. The firm paid $3,906 in total interest expense and deducted $2,585 in depreciation expense. What was the cash coverage ratio for the year?

  What is the loan term-notoriously known as slow-payer

The Art Gallery is notoriously known as a slow-payer. The firm currently needs to borrow $25,000 and only one company will loan to them. The terms of the loan call for weekly payments of $500 at a weekly interest rate of .45 percent. What is the loan..

  Future value compute the future value

Future Value Compute the future value in year 9 of a $2,000 deposit in year 1 and another $1,500 deposit at the end of year 3 using a 10 percent interest rate. (LG5-1)

  What is the present value of this investment

An investment will pay $1283 two years from now, $ 3848 four years from now and $3124 five years from now. If the opportunity rate is 19.57 percent per year, what is the present value of this investment?

  What is the duration if the yield to maturity

Find the duration of a 8.0% coupon bond making semi annually coupon payments if it has 3 years until maturity and has a yield to maturity of 8.0%. What is the duration if the yield to maturity is 10.0%?

  Understand the sources of finance available to a business

Explain the type of business organisation and it's ownership This should include : The business's name, the form of business organisation, (Partnership, Sole trader or limited company)

  Compute the after tax salvage value of the equipment

Your firm is considering a new product development. An outlay of $110,000 is required for equipment, and additional net working capital of $5,000 is required. What is the total cost at time zero of accepting this project? What is the depreciation eac..

  Firm pledges their accounts receivables

If a firm factors their accounts receivable with recourse, then they are still liable if their customer doesn’t pay. If a firm has a Floating Lien, then they are prohibited from selling their inventory. If a firm pledges their Accounts Receivables, t..

  What is the implied interest

You buy a zero coupon bond at the beginning of the year that has a face value of $1,000, a YTM of 12 percent, and 16 years to maturity. You hold the bond for the entire year. How much interest income will you have to declare on your tax return? What ..

  Future value of an annuity-saving for retirement

Your client is 35 years old; and she wants to begin saving for retirement, with the first payment to come one year from now. She can save $9,000 per year; and you advise her to invest it in the stock market, which you expect to provide an average ret..

  Determine of the discount rate or hurdle rate

Select a company in which you have an interest. For that company, describe a capital budgeting project (i.e., an investment in fixed assets) that might be undertaken by the company. Determine (make estimate) of the discount rate, or hurdle rate, that..

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!

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