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- help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working7. It was established to provide a national savings program and affordable shelter financing for the Filipino workers. * O GSIS HDMF SSS O PhilhealthScenario: Robert Thompson has come to you for help. He is considering accepting a job with the Let's Read organization, which proclaims to be a public charity under Section 501(c)(3). Robert has heard rumors that the charity is not what it claims to be. He has tried to read Internal Revenue Service (IRS) Publication 557, Tax-Exempt Status for Your Organization, but he is more confused now than before. You have a meeting with Robert at his office on Monday to explain organizations that have Section 501(c)(3) status. He has provided you with some information about Let's Read and would like you to analyze the information and explain the results. After the meeting, you want to provide Robert with a guide for his use. Robert explaining what you know about Section 501(c)(3) status organizations. To help Robert with his specific situation, use the summary of the information that he provided, as shown in the following, to answer the questions for him. Include these answers in the document.…
- You have DR Checking and CR Misc Income. You realize it is not Misc Income but recieved from a donor. What is the entry made to redesignate the CR Misc Income as Ms. Smiths donation?If you don't have a will when you die, the state will take steps to see that your assets are distributed as you might have wished. a) True b) FalseYou can deduct as an itemized deduction charitable contribution all the money you contributed to your coworkers "Go fund me" account set up for her heart surgery
- Ofri and Miles pay for their children to attend a private school instead of the nearby public school using government-provided funds. Ofri and Miles are MOST likely using _____ to pay for their children’s tuition. a. public grants b.vouchers c.savings bonds d.scholarshipsWhich of the following is not a stage in the financial planning life cycle? Stage 4 - which involves transferring all of your assets to your family and friends so that the government does not take it when you die Stage 3 - focuses on the ability to live on the money that has been saved in retirement Stage 1 - accumulating wealth Stage 2 - which shifts the focus on preserving and increasing the wealth that one has accumulatedUsing the search terms, “What do I need to know before I file my taxes” or “Tax changes to know before filing my taxes”, share your findings with your classmates. In your response, summarize your findings and include the following: Search term(s) used. Note one thing you found interesting or learned about for the first time involving Individual Taxes — Income, Exclusions, and Filing Status from your research. Include a link to the reference used.
- To qualify for the additional child tax credit:Community Assist for Refugees (CAR) is a not-for-profit organization that assistsrefugees with various services including language and cultural training, transportation,a food bank, and translation services. Some selected transactions for CAR arepresented below.a.CAR received a $20,000 cheque from a local radio station. The letter that came withthe donation says that it can be used by CAR on whatever needs are most urgent.b.CAR received a $25,000 donation from the Literacy Fund for a new homeworkambiance piglet the project serpested o star /in a ew moning,.(C.CAR received a $55,000 endowment contribution from Dr. Koe for a scholarshipd. CAR received a donation of 50 student desks for its homework assistance projectfrom City Office Supplies Ltd. The student desks are valued at $40,000 and areexpected to last 10 years. e. The city donated a tract of land,valued at $50,000 to CAR which plans to raise funds to constract a new center on the land. f.Assume that the homework as istance…6. For estate tax purposes, an estate can claim a charitable deduction for all transfers to charities True or False
