Should emily and paul itemize their deductions

Assignment Help Financial Management
Reference no: EM131306473

Deductions:- Emily and Paul are married and filed a joint return for 2012. The standard deduction for their filing status is $11,900. They have the following itemized deductions:

Medical bills above the 7.5% limit $400
Mortgage interest 3,500
State income taxes 1,500
Charitable contributions 250

Should Emily and Paul itemize their deductions or use the standard deduction?

Reference no: EM131306473

Questions Cloud

What stakeholders require communication : What stakeholders require communication? What will be communicated to them? Who will send the communication? What communication medium will be used? minimum of 4 scholarly references.
How much tax will stuart pay on this gain : Stuart is in the 25% tax bracket. Recently, he sold stock that he had held longer than a year for a gain of $20,000. How much tax will Stuart pay on this gain?
Average daily credit sales and average collection period : Miranda Tool Company sells to retail hardware stores on credit terms of “net 30”. Annual credit sales are $18 million and are spread evenly throughout the year. The company’s variable cost ratio is 0.70, and its accounts receivable average $1.9 milli..
Do they have customs-rituals you find interesting : Chose a culture/ethnicity/religion different from your own and research their funeral and bereavement customs. Write a paper outlining your own beliefs (you will need to do some research here as well. I am sure there are things to learn!), and t..
Should emily and paul itemize their deductions : Emily and Paul are married and filed a joint return for 2012. The standard deduction for their filing status is $11,900.- Should Emily and Paul itemize their deductions or use the standard deduction?
Determine whether heat transfer by free convection : A horizontal, 25-mm diameter cylinder is maintained at a uniform surface temperature of 35°C. A fluid with a velocity of 0.05 m/s and temperature of 20°C is in cross flow over the cylinder.
What is the minimum vertical velocity required of airflow : What is the minimum vertical velocity required of the airflow such that free convection effects will be less than 5% of the heat transfer rate?
What is your opinion on the rapid reflection model : Describe a situation where you believe using a SWOT analysis would be useful. Explain how you would roll it out. What is your opinion on the Rapid Reflection model?
Determine the minimum variance portfolio : Directions: Update the data with your recommendations for the blue cells, then use Solver to determine the minimum variance portfolio. Choose the dates you think are most relevant for calculating expected returns and risk

Reviews

Write a Review

Financial Management Questions & Answers

  Both bonds make semiannual payments

Dinklage Corp. has 8 million shares of common stock outstanding. The current share price is $87, and the book value per share is $6. The company also has two bond issues outstanding. The first bond issue has a face value of $75 million, a coupon rate..

  Target capital structure-marginal cost of equity capital

allison Engines Corporation has established a target capital structure of 40 % debt and 60% common equity. The firm expects to earn $600 in after tax income during the coming year and it will retain 40% of those earnings. the current market price of ..

  What is the present value of an ordinary annuity

What is the present value of an ordinary annuity of $1,000 per year for 7 years discounted back to the present at 10 percent? What would be the present value if it were an annuity due?

  Expected return-standard deviation of variance portfolio

Consider two stocks, Stock D, with an expected return of 16 percent and a standard deviation of 31 percent, and Stock I, an international company, with an expected return of 9 percent and a standard deviation of 19 percent. What are the expected retu..

  Debenture-mortgage bond and subordinated debenture

If a corporation were to choose between issuing a debenture, a mortgage bond, or a subordinated debenture, everything else equal, which would sell for the greatest price?

  Consider the two mutually exclusive projects

Consider the following two mutually exclusive projects: If you apply the payback criterion, which investment will you choose? Why? If you apply the discounted payback criterion, which investment will you choose? Why?

  The bond pays interest semi-annually

A 5-year maturity 6% coupon rate bond is selling to yield 8%. The bond pays interest semi-annually. One year later, interest rates decrease from 8% to 5%. What is the current price of the 5-year maturity 6% coupon bond selling to yield 8%?

  Get forecasted invested capital to match adjusted debt

Get forecasted Invested Capital to match Adjusted Debt and Equity on the ROIC Forecast tab? - Also Do the DCF Matrix and the Multiples Matrix tabs?

  What will portfolios new beta be after these transactions

You have a $2 million portfolio consisting of a $100,000 investment in each of 20 different stocks. The portfolio has a beta of 1.25. You are considering selling $100,000 worth of one stock with a beta of 1.1 and using the proceeds to purchase anothe..

  About the shares outstanding

Assuming BP has about 3 billion shares outstanding, how much (in terms of dollars) did BP’s shareholders lose due to the oil spill from the day of the explosion April /01/2015 to 6/28/10? Explain.

  Applying the dividend-discount model

Procter & Gamble will pay an annual dividend of $.65 one year from now. Analysts expect this dividend to grow at 12% per year thereafter until the fifth year. After then, growth will level off at 2% per year. According to the dividend-discount model,..

  Management expects the machinery to produce cash flows

Quebec, Inc., is purchasing machinery at a cost of $4,310,720. The company’s management expects the machinery to produce cash flows of $892,410, $1,094,160, and $1,927,150 over the next three years, respectively. What is the payback period?

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