Determine bradley available education tax credit

Assignment Help Accounting Basics
Reference no: EM131979419

Question - Bradley has two college-age children, Clint, a freshman at State University, and Abigail, a junior at Northwest University. Both Clint and Abigail are full-time students. Clint's expenses during the 2010 fall semester are as follows: $2,400 tuition, $250 books and course materials, and $1,600 room and board. Abigail's expenses for the 2010 calendar year are as follows: $10,200 tuition, $1,200 books and course materials, and $3,600 room and board. Tuition and the applicable room and board costs are paid at the beginning of each semester. Bradley is married, files a joint tax return, claims both children as dependents, and has a combined AGI with his wife of $114,000 for 2010. Determine Bradley's available education tax credit for 2010.

Reference no: EM131979419

Questions Cloud

Compute depletion and depreciation of the mine : In 2011, 50,000 tons of ore were extracted and sold. Compute depletion and depreciation of the mine and the mining facilities and equipment for 2011 and 2012
Java program that allows the user to enter packages : Java program that allows the user to enter packages' names followed by their weights. Use an array of String to store packages' names and an array of double
Prepare a classified balance sheet and income statement : Using the information below prepare a classified balance sheet, income statement, and statement of retained earnings for Alpha Company
Apply the profit for future growth impact the stock price : By paying out a dividend, a company has that much less to continue its growth. Can the decision to apply the profit for future growth impact the stock price??
Determine bradley available education tax credit : Bradley is married, files a joint tax return, claims both children as dependents, Determine Bradley's available education tax credit for 2010
Implement a web-based system to assist users : Write the logic and pseudocode to implement a Web-based system to assist users to find and keep updated a bibliographic system
Provide the journal entries in the accounts of abc : On 30 June 2014, the directors declared an ordinary dividend of $0.05 per share. Provide the journal entries in the accounts of ABC Limited to record the event
Rate of return on investment of type : He expects at least a 15% rate of return on an investment of this type, should he invest in this particular equity?
Relationship between step-fixed costs and relevant range : Explain the relationship between step-fixed costs and the relevant range.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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