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hichkok12 [17]
1 year ago
15

In May 2020, Whitney filed for divorce from her husband, Michael. Although they lived apart for the last six months of the year,

their divorce is not yet finalized; they are still legally married. Whitney does not wish to file a joint 2020 return, and she has no qualifying child or qualifying relative. What filing status should Whitney use?
Business
1 answer:
pav-90 [236]1 year ago
5 0

The filing status to be used by Whitney in 2020 is Married Filing Separately.

The filing status of an individual determines the tax return form an individual will use and includes 5 categories such as:

  • Single.
  • Married filing jointly.
  • Married filing separately.
  • Head of household.
  • Qualifying widow(er) with dependent child.

Married filing separately is used by married partners that choose to record their incomes and deductions on separate tax returns.

The Married Filing Separately helps one of the partner to own his/her tax liability separate from the spouse's tax liability.

Therefore, in conclusion, the filing status to be used by Whitney in 2020 is Married Filing Separately because the divorce is not yet finalized, thus, still legally married.

Learn more about this here

<em>brainly.com/question/12980432</em>

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Kathy wants to buy a condominium selling for ​$95 comma 000. The taxes on the property are ​$1500 per​ year, and​ homeowners' in
kumpel [21]

Answer:

Check the answers below!

Explanation:

There is just one question despite the exercise requires completition of 7 additional numerals.

a. Required down payment  = Price of the condominium * interest rate required by the bank.

$95.000 * 20% =  $19.000

b. 28% of adjusted monthly income is:

(5000-145)*28%=

1359.4

c. Monthly payments of principal and interest for a​ 25-year loan.

Using PV of ordinary annuity formula,

with PV of the bank loan =96000*80%=76800

d.Total monthly payment=

671+((346+1400)/12)=

817

e.YES---- 817 < 1359.4

​f. Amt. of First payment on the loan applied to the principal:

671-(76800*0.00792)=

62.74

ie.$ 63

​g.Total amount she pays for the condominium with a​ 25-year conventional loan(without including taxes &​ homeowners' insurance)

671*12 mths. *25 yrs. =

201300

​h) So, Total interest paid for the​ 25-year loan:

201300-76800=

124500

No.of periods=25*12=300

at monthly interest of 9.5%/12=

76800=Pmt.*(1-1.00792^-300)/0.00792

Solving the above, we get the monthly payment as 671

5 0
2 years ago
Suppose there is an increase in both the supply and demand for personal computers. In the market for personal computers, we woul
4vir4ik [10]

Answer:

The correct answer is letter "B": equilibrium quantity to rise and the equilibrium price to fall.

Explanation:

Given the market for a certain product, in case both the demand and supply of that good increase, as the demand increases, <em>the equilibrium quantity is likely to increase</em>. Every time the equilibrium quantity increases, <em>the equilibrium price tends to fall</em>.

6 0
2 years ago
Consider this information about an activity: es = 12, ef = 18, ls = 14, lf = 20. what is the amount of slack associated with thi
Julli [10]
<span>The slack can easily be explained as the difference between latest start (ls) and earliest start (es) of an activity. As the above example, we can easily now calculate slack as the follow: slack = LS - ES or LF - EF So, the correct answer will be LS - ES = 14 -12 = 2 or LF - EF = 20-18 = 2 So, the slack associated with this activity is 2.</span>
3 0
2 years ago
Read 2 more answers
Choose all that apply.
denpristay [2]

reasons:

safe

high interest rates

no fees

5 0
2 years ago
Decker's is an all-equity financed chain of retail furniture stores. Furniture Fashions produces furniture and is the primary su
Vinil7 [7]

Answer:

13.968%

Explanation:

Discount is defined as a deduction from the selling price of a product, and it is used as a way to attract more customers by using price advantage compared to competitors.

The following formula can be used to calculate discount

Discount rate = Rate of return + Competitor's beta (market risk premium)

Discount rate = 0.031 + 1.43(0.076)

Discount rate= 0.13968= 13.968%

5 0
2 years ago
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