Brice is a single, self-employed electrician who earns $60,000 per year in self-employment income. Brice paid the following expenses this year. Which of the expenses are deductible for AGI? a. The cost of health insurance (not purchased through an exchange) b. The employer portion of self-employment tax paid c. Penalty on early withdrawal of funds from a certificate of deposit

Answers

Answer 1
Answer:

Answer:

The correct answer is  all of them. Options "A", "B", and "C" are correct.

Explanation:

AGI stands for Adjusted Gross Income. It is a term fro the internal revenue code that refers to a number used on the Form 1040 U.S. individual tax return.  AGI helps to determine a person's income taxes due. The formula for the AGI is:

(Gross Income from taxable sources - allowable deductions)

Among those above the line deductions, we can find:

  • Some retirement plan investments, such as Individual Retirement Accounts (IRA), SIMPLE IRA, SEP IRA.
  • Healthcare savings account (HSA).
  • Part of of the tax on self-employment.
  • Early withdrawal penalties levied by financial institutions.
  • Losses resulting from the selling or transfer of assets.
  • School tuition, fees and interest in student loans.

As we can see, all the choices given in our case are eligible to be deducted in the AGI.


Related Questions

Discuss the main causes of French revolution??​
The move over law applies not only to police and fire vehicles but also to ___________ .
What does heliocentric theory mean?
You feel every citizen has the right to own a gun. If you argue for that right based on the Constitution, you're most likely to refer toA. Amendment IV.B. Amendment I.C. Amendment II.D. Amendment VI.
It is better to use cotton fabrics for making specimen because it isa. Dirt resistantb. DurableC. Easy to handled. Beautiful​

Seo-yeon is beginning to wonder if she has made the right decision about purchasing a new HP laptop after she sees a friend with a new Dell. Seo-yeon's doubt whether she made the right decision occurs during the ___________ of the buying decision process.A. cognitive dissonance phase
B. purchase phase
C. evaluation of alternatives phase
D. information search phase
E. postpurchase evaluation phase

Answers

Answer:E. postpurchase evaluation phase

Explanation:

Post-purchase behavior occurs when the consumer has bought the product and is now evaluating if they re satisfied or dissatisfied with their purchase. This will determine whether the customer will go for the same brand of that product again or not.

Post-purchase behavior is the final stage in the consumer decision , this will so have an influence on influencing other potential customers as the customer is likely to share their feeling about the product they bought.

Cognitive dissonance occurs too at this stage when the customer is filed with conflicting feelings and remorse or tension , when the customers start to question themselves about their purchase decision.

How does scarcity make countries interdependent?

Answers

With some country's, there is not a lot of good economy or food, lucking in basic needs, with other countries helping out, they are able to help each other out .

A lobbyist for a major airspace firm wants to get the opinion of state legislators on an issue of importance to his industry. The lobbyist contacts 10 state legislators at a restaurant during a lunch break and each one is polled about the issue. This technique produces a random sample.True / False.

Answers

Answer:

That statement is false.

Explanation:

In random samples, Sample members are chosen by a random chance. The researchers do not have control over which samples will be chosen for the study.

In the case above the lobbyist contacted the 10 legislators himselves. This means that the lobbyist actively choose the sample and have control  on the selection.

If he wants to make this a random sample, he need to write the legislators name in a piece of paper and put them in a jar. After that, he should mix them up and randomly take out 10 papers. All of the names that he takes will be his sample.

Short-term side effects of alcohol and other drugs include

Answers


Depending on how much is taken and the physical condition of the individual, alcohol can cause:Slurred speech.
Drowsiness.
Vomiting.
Diarrhea.
Upset stomach.
Headaches.
Breathing difficulties.
Distorted vision and hearing.

Answer:

Forgetfulness

Explanation:

The Congress has the power to deny citizenship.
a. True
b. False

Answers

Answer:

The correct answer of the question: The Congress has the power to deny citizenship.  Is: A.True

Explanation:

Even though the Congress has the power to deny citizenship to somebody it can only happen in very rare cases such as:

First, if the subject obtained citizenship by military means, it can deny it if the subjects perform dishonorable acts.

Second, if the subject is part of a certain subversive group, like Al Qaeda, Isis, etc.

Third, If the subjects deny participating in testimony in a congressional committee investigating subversive acts.

Fourth, If someone lied to obtain U.S. citizenship.

But to understand it we have to analyze all of the options.

First of all, Collectivism is wrong because it means that a subject prioritizes the needs of the group instead of the subject's needs.

Second, Zero-Sum Dynamics is a mathematic and statistic concept in which the subject has a balance between his loss and gains.

Third, the concept of Mutual exclusivity Is a scientific concept used to represent the inability of two events to exist in the same space and time.

However, the term Interdependence means that one can be self-sufficient while being part of a group to help satisfy the group's needs.

True, US constitution article 1 section 8 says the Congress shall have the power to establishan uniform Rule of Natrualization.

Integrated services reflect work with the client that isa. ethical
b. professional
c. coordinated
d. confidential

Answers

The answer is letter B. Professional. Integrated services reflect work with the client that is professional. Professionals value their integrity and ethics of the profession and shall not impose equality among the clients that they are servicing. They also promote client and community well-being.