Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during the year. Ivanna earned $48,300 and incurred $9,125 of child care expenses.Determine Ivanna and Sergio's child and dependent care credit. $_________ Exhibit 13.3 Child and Dependent Care Credit ComputationsAdjusted Gross IncomeOverBut Not OverApplicable Rate of Credit$ 0$15,00035%15,00017,00034%17,00019,00033%19,00021,00032%21,00023,00031%23,00025,00030%25,00027,00029%27,00029,00028%29,00031,00027%31,00033,00026%33,00035,00025%35,00037,00024%37,00039,00023%39,00041,00022%41,00043,00021%43,000No limit20%

It is assumed that Sergio is fully employed and have earned $500 for 9 months $500 * 9 months…

Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during the year. Ivanna earned $48,300 and incurred $9,125 of child care expenses. Determine Ivanna and Sergio's child and dependent care credit. $_________

Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was attending college for nine months during the year. Ivanna earned $48,300 and incurred $9,125 of child care expenses. Determine Ivanna and Sergio's child and dependent care credit. $_________

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 27P

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EXHIBIT 8-10 2023 Earned Income Credit Table Qualifying Children 0 1 2 34 0 1 2 3+ (1) Maximum Earned Income Eligible for Credit $7,840 11,750 16,510 16,510 (2) Credit % 7.65% 34 40 45 (3) Maximum Credit (1) x (2) Married taxpayers filing joint returns $16,370 28,120 28,120 28,120 (4) Credit Phase-Out for AGI (or earned income if greater) over This Amount $ 600 3,995 6,604 7,430 7.65% 34 40 45 $7,840 11,750 3,995 16,510 6,604 16,510 7,430 Source: Internal Revenue Code. "Rev. Proc. 2022-38." www.irs.gov All taxpayers except married taxpayers filing joint returns $ 600 (5) Phase-Out Percentage $9,800 21,560 21,560 21,560 7.65% 15.98 21.06 21.06 7.65% 15.98 21.06 21.06 No Credit When AGI (or earned income if greater) Equals or Exceeds This Amount (4) + [(3)/(5)] $24,210 53,120 59,478 63,398 $17,640 46,560 52,918 $56,838
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EXHIBIT 8-11 2021 Earned Income Credit Table (4) (1) (3) Maximum Earned Credit Phase-Out for AGI (or earned income Income Eligible Maximum Credit Qualifying Children (2) if greater) Over This Amount for Credit Credit % (1) × (2) Married taxpayers filing joint returns 01100 11 LIS 0 $9,820 15.3% $1.502 $14,820 1 10,640 34 3,618 25,470 15.98 2 14,950 40 5,980 25,470 21.06 3+ 14.950 45 6.728 25,470 21.06 All taxpayers except married taxpayers filing joint returns ORD CHIT EL 0 $9,820 15.3% $ 11,610 $1.502 3,618 1 10,640 34 19,520 2 14.950 40 5,980 19,520 3+ 14,950 45 6,728 19.520 Source: Internal Revenue Code. "Rev. Proc. 2020-45. " www.irs.gov. SI DU નવીura વ (5) Phase-Out Percentage 15.3% 15.3% 15.98 21.06 21.06 No Credit When AGI (or earned income if greater) Equals or Exceeds This Amount (4) + [(3)/(5)] $24,637 48,108 53,865 57,414 $21,427 42,158 47,915 51.464
question 24 choose the correct answer from the choices
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Chapters 10 and 11 HOMEWORK X CengageNOWv2| Online teachin xX https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogres. Chapters 10 and 11 еВook Print Item Current Portion of Long-Term Debt Connie's Bistro, Inc. reported the following information about its long-term debt in the notes to a recent financial statement (in millions): Long-term debt consists of the following: December 31 Current Preceding Year Year Total long-term debt $757,500 $416,600 Less current portion (219,700) (204,500) Long-term debt $537,800 $212,100 a. How much of the long-term debt was disclosed as a current liability on the current year's December 31 balance sheet? $ b. How much did the total current liabilities change between the preceding year and the current year as a result of the current portion of long-term debt? c. If Connie's Bistro did not issue additional long-term debt next year, what would be the total long-term debt on December 31 of the…
ests - X þver Reference Reference Present Value of Ordinary Annuity of $1 Present Value of $1 Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 0.905 0.820 | 0.744 0.676 0.614 | 0.558 0.508 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% us Period 1 Period 2 Period 3 Period 4 Period 5 0.935 0.952 0.943 0.935 1.859 1.833 1.808 0.926 0.917 0.909 0.893 0.877 0.870 1.783 1.759 1.736 2.577 2.531 2.487 0.990 0.990 0.980 0.971 0.962 | 0.952 0.980 0.961 0.943 0.925 0.907 0.971 0.942 0.915 0.889 0.864 0.961 0.924 0.888 0.855 0.823 0.951 0.906 0.863 0.822 0.784 0.943 0.917 0.909 0.893 | 0.877 0.842 0.826 0.797 0.769 0.772 0.751 0.712 0.675 0.658 | 0.641 0.708 0.683 0.636 | 0.592 0.572 0.552 0.516 0.482 0.650 0.621 0.567 0.980 0.971 0.962 0.862 0.847 0.833 0.926 0.862 0.847 0.833 1.566 | 1.528 2.174 2.106 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.855 2.798…
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