Matt and Meg
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- John Mesa, CFA, is a portfolio manager in the Trust Department of BigBanc. Mesa has been asked to review the investment portfolios of Robert and Mary Smith, a retired couple and potential clients. Previously, the Smiths had been working with another financial advisor, WealthMax Financial Consultants (WFC). To assist Mesa, the Smiths have provided the following background information. Family: We live alone. Our only daughter and granddaughter are financially secure and independent. Health: We are both 65 years of age and in good health. Our medical costs are covered by insurance. Housing: Our house needs major renovation. The work will be completed within the next 6 months, at an estimated cost of $200,000. Expenses: Our annual after-tax living costs are expected to be $150,000 for this year and are rising with inflation, which is expected to continue at 3 percent annually. Income: In addition to income from the Gift Fund and the Family Portfolio (both described below), we…Please answer these questions, give me the right answers ( choices) pleaseRichard McCarthy (born 2/14/1966; Social Security number 100-10-9090) and Christine McCarthy (born 6/1/1968; Social security number 101-21-3434) have a 19-year-old son Jack, (born 10/2/2001; Social Security number 555-55-1212), who is a full-time student at the University of Key West. The McCarthys also have a 12-year-old daughter Justine, (Social Security number 444-23-1212), who lives with them. The McCarthys can claim a $2,000 child tax credit for Justine and a $500 other dependent credit for Jack. The McCarthys did not receive an EIP in 2020. Richard is the CEO at a paper company. His 2020 Form W-2 is provided. Christine is an optometrist and operates her own practice ("The Eyes of March") in town as a sole proprietor. The shop address is 1030 Morgan Highway, Clarks Summit, PA 18411 and the business code is 621320. Christine keeps her books on the accrual basis and her bookkeeper provided the following information: Gross sales $270,500 Returns 9,000 Inventory:…
- 1Multiple Response Question Paul and Tom have three children, Cathy (aged 15), Jacinta (aged 13) and Toby (aged 10), all of whom are full time students and living with them. Jacinta and Toby have no income, but Cathy has earned $3,556 during the year. In addition, Paul pays child support for his son, David, who lived with Peter's ex-partner and is a full time student aged 17. David has had no income during the year. How many children will Paul include at Item M1 Label Y of the tax return? 3 1 2 0 4A2
- timed task, need help thanksAnita, Jaya and Nisha are partners sharing profits and losses in the ratioof 1 : 1 : 1 Jaya retires from the firm. Anita and Nisha decided to share theprofit in future in the ratio 4:3. Calculate the gaining ratio.Victor and Maria Hernandez Look at Future Income Throughout this book, we will present a continuingnarrative about Victor and Maria Hernandez. Followingis a brief description of the lives of this couple.Victor and Maria, both in their late 30s, have twochildren: Jacob, age 13, and Nicholas, age 15. Victor hashad a long sales career with a retail appliance store inFargo, North Dakota earning $53,000 annually. Mariaworks as a medical records assistant earning $32,000. (a) Victor and Maria regularly buy and sell a numberof items on eBay, Craig’s List, and through the free community newspaper, from which they earn about $4,000 each year. What is the accumulated futurevalue of those amounts over 20 years if the annualearnings were invested regularly and provided a 5 percent return each year? (b) What would Victor and Maria’s annual income be after20 years if they both received an average 3 percentraise over their current $85,000 salary ($53,000 +$32,000) every year?
- Question 27 of 50. Mark and Carrie are married, and they will file a joint return. They both work full-time, and their 2021 income totaled $89,000, all from wages. They have one dependent child, Aubrey (5). During the year, they spent $9,000 for Aubrey's child care. Neither Mark nor Carrie received any dependent care benefits from their employer. What amount may they use to calculate the Child and Dependent Care Credit? $0 $3,000 $8,000 $9,000 Mark for follow upWhen did Walt diedin intestacy, what relative of the deceased generally ranks lowest in the hierarchy for the distribution of the estate assets? A. nieces and nephews B. Parents C. childeren D. spouse or common-law partner