During 2019, Susan incurred and paid the following expenses for Beth (her daughter), Ed (her father), and herself:Surgery for Beth $4,500Red River Academy charges for Beth:Tuition 5,100Room, board, and other expenses 4,800Psychiatric treatment 5,100Doctor bills for Ed 2,200Prescription drugs for Susan, Beth, and Ed 780Insulin for Ed 540Nonprescription drugs for Susan, Beth, and Ed 570Charges at Heartland Nursing Home for Ed:Medical care 5,000Lodging 2,700Meals 2,650 Beth qualifies as Susan’s dependent, and Ed would also qualify except that hereceives $7,400 of taxable retirement benefits from his former employer. Beth’s psychiatristrecommended Red River Academy because of its small classes and specializedpsychiatric treatment program that is needed to treat Beth’s illness. Ed, who isa paraplegic and diabetic, entered Heartland in October. Heartland offers the typeof care that he requires.Upon the recommendation of a physician, Susan has an air filtration systeminstalled in her personal residence. She suffers from severe allergies. In connectionwith this equipment, Susan incurs and pays the following amounts during the year:Filtration system and cost of installation $6,500Increase in utility bills due to the system 700Cost of certified appraisal 360The system has an estimated useful life of 10 years. The appraisal was to determinethe value of Susan’s residence with and without the system. The appraisal statesthat the system increased the value of Susan’s residence by $2,200. Ignoring the AGIfloor, what is the total of Susan’s expenses that qualifies for the medical expensededuction?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
| During 2019, Susan incurred and paid the following expenses for Beth (her daughter), Ed (her father), and herself:Surgery for Beth $4,500 Red River Academy charges for Beth: Tuition 5,100 Room, board, and other expenses 4,800 Psychiatric treatment 5,100 Doctor bills for Ed 2,200 Prescription drugs for Susan, Beth, and Ed 780 Insulin for Ed 540 Nonprescription drugs for Susan, Beth, and Ed 570 Charges at Heartland Nursing Home for Ed: Medical care 5,000 Lodging 2,700 Meals 2,650 Beth qualifies as Susan’s dependent, and Ed would also qualify except that he receives $7,400 of taxable retirement benefits from his former employer. Beth’s psychiatrist recommended Red River Academy because of its small classes and specialized psychiatric treatment program that is needed to treat Beth’s illness. Ed, who is a paraplegic and diabetic, entered Heartland in October. Heartland offers the type of care that he requires. Upon the recommendation of a physician, Susan has an air filtration system installed in her personal residence. She suffers from severe allergies. In connection with this equipment, Susan incurs and pays the following amounts during the year: Filtration system and cost of installation $6,500 Increase in utility bills due to the system 700 Cost of certified appraisal 360 The system has an estimated useful life of 10 years. The appraisal was to determine the value of Susan’s residence with and without the system. The appraisal states that the system increased the value of Susan’s residence by $2,200. Ignoring the AGI floor, what is the total of Susan’s expenses that qualifies for the medical expense deduction? |
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