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Tpy6a [65]
2 years ago
11

Mason and Janet were divorced in 2015. Their daughter Kelly lives with Mason, and Janet pays $650 per month of child support. Wh

ich of the following statements are true?
Business
1 answer:
xenn [34]2 years ago
4 0

The choices are:

a. Mason must claim the child support as income.

b. Janet can deduct the child support as an adjustment to income.

c. The child support is income received by the child and provided for her own support.

d. Child support payments received are not taxable income, and child support paid is not a deductible expense.

Answer:

The answer is letter d.

Explanation:

Under the Internal Revenue Code (IRC), <u>"child support"</u> is <u>not considered as an income of the parent nor is it considered an income of the child.</u> It is not part of a person's gross income.<u> It is also non-deductible,</u> which means that <u>Janet cannot deduct the child support as an adjustment to income.</u>

<u>Child support payments are non-taxable as well.</u> This means that tax will not be deducted from it, since it is a <em>personal expense</em>. It is not classified under any tax-deductible situations.

Only an <u>"alimony"</u> (this is the provision or the obligation that you will be supporting your spouse before or after divorce) is tax-deductible.

Remember that child support cannot be classified as an alimony.

Thus, this is the reason why letter d is the answer.

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After reading the article, select the statements that are correct. Choose one or more: A. The cost-of-living adjustment for 2020
Mama L [17]

Answer:

  • B. The former program trustee argues that the current inflation measure overcompensates seniors since it ignores the substitution effect.
  • C. According to advocates for seniors, the 2020 COLA is not enough to compensate for rising healthcare costs.
  • D. Elizabeth Warren has proposed using a new inflation measure that outpaces the current one used.

Explanation:

The article is, ''<em>Social Security checks to rise modestly amid push to expand benefits '' </em>by<em> Associated Press. </em>

Blahous is a former program trustee who believes that the current inflation adjustment rate at which Social security is increasing is overcompensating seniors because it does not take into account that seniors could be switching to buying cheaper products which is the Substitution effect.  

Advocates and the seniors themselves have complained that the 2020 COLA is not enough to meet their current needs especially given the rising cost of healthcare.

Elizabeth Warren and Bernie Sanders both proposed using a new measure for inflation that will adequately compensate the seniors because it outpaces the current one used.

8 0
2 years ago
Rosa, a human resource professional, is redesigning several jobs at the factory where she works. She recognizes that most of the
Korvikt [17]

There are three ways in which a manager can redesign an employee's job: <u>job enrichment, job enlargement and job rotation.</u>

Explanation:

There are three ways a manager can redesign an employee's job:

  1. job enrichment,
  2. job enlargement
  3. job rotation.

Job redesign is an technique using which job responsibilities, tasks are reviewed, and are re-allocated among the employees, to improve output. Redesigning jobs can lead to improvements in both productivity and in job satisfaction. of the employees

For example: Samantha is , a customer service representative  at a large call center. She performs the same task of attending phone calls  on a daily basis .This redundancy of task will lead to the reduction in the productivity of Samantha. To increase her productivity the HR plans to redesign her job,the HR might increase or decrease the number of calls she takes each day OR THEY  might plan to give her  training so that she can be moved to a more specialized group, such as tech support or sales,  or the HR  might  change  her role, such as to a supervisory or training position.

This change in the job profile(Job Redesign) of Samantha will lead to an increase in the productivity and motivation.

3 0
2 years ago
A bank has $8,000 in deposits and $6,000 in loans. it has loaned out all it can given the reserve requirement. it follows that t
True [87]
<span>The reserve requirement, which is also referred to as the cash reserve ratio, is 25 percent. This is calculated by subtracting the $6,000 loaned out from the bank's $8,000 in deposits, yielding a reserve of $2,000. The reserve requirement is calculated by dividing $2,000 by $8,000.</span>
4 0
2 years ago
Callahan and megan plan to invest in corporate securities. while callahan plans to retire next year on his 65th birthday, megan
madreJ [45]

Answer:

a. callahanb

Explanation:

Conservative investment strategy means investing in a less risky asset so the there is certain cash flow . Investment in govt bonds or treasury bills or company debentures etc of good rating are example of conservative investment strategy.

Old timers should opt for conservative investment . It is so because their risk bearing capacity is low. They can be reined in case of any windfall loss .

They have fixed liability in the form of medical expenses etc.

On the other hand youngsters have no such fixed liability . So they go for some risky alternative to take advantage of risk premium.

3 0
2 years ago
Genovese Contracting, Inc., agrees to build a warehouse for Hawthorne Wholesale Distributors. When Genovese runs into the types
Andrej [43]

Answer:

4: not enforce it.​

Explanation:

It may be stated that the court does not exercise this additional agreement in this particular case based on the information provided in the question. This is due to the fact that it is not directly clear for payment. Because they make extra payments for the Genovey contract, they try to overcome the odds, and if these limitations are beyond their control they cannot do so.

8 0
2 years ago
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