Joseph has been divorced since 2013. He has not remarried and files single. He pays alimony to his ex-wife. He completed his tax return this year and has a balance due. Which of the following is a planning strategy he could employ to reduce his amount due? Group of answer choices Make an deductible IRA contribution before the due date of the return. Ask his sister if he could claim her five year old daughter as his dependent. Make a Roth IRA contribution before the due date of the return. Make a voluntary alimony payment to his ex-wife to help her cover extraordinary repairs she incurred on the house they used to share.
Joseph has been divorced since 2013. He has not remarried and files single. He pays alimony to his ex-wife. He completed his tax return this year and has a balance due. Which of the following is a planning strategy he could employ to reduce his amount due? Group of answer choices Make an deductible IRA contribution before the due date of the return. Ask his sister if he could claim her five year old daughter as his dependent. Make a Roth IRA contribution before the due date of the return. Make a voluntary alimony payment to his ex-wife to help her cover extraordinary repairs she incurred on the house they used to share.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Joseph has been divorced since 2013. He has not remarried and files single. He pays alimony to his ex-wife. He completed his tax return this year and has a balance due. Which of the following is a planning strategy he could employ to reduce his amount due? Group of answer choices
Make an deductible IRA contribution before the due date of the return.
Ask his sister if he could claim her five year old daughter as his dependent.
Make a Roth IRA contribution before the due date of the return.
Make a voluntary alimony payment to his ex-wife to help her cover extraordinary repairs she incurred on the house they used to share.
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