In 2011, Arnold made payments totaling $18,000. * C.Arnold is to make $3,000 per month payments to Barbara. Of this amount one-half is for child support. The divorce decree further states that alimony is to cease upon the death of the wife. In 2011, he made six payments.
TRUE 17.In 2012, Juan, a cash basis taxpayer, was offered $3 million for signing a professional baseball contract. He counteroffered that he would receive $900,000 per year for 4 years beginning in 2013. The team accepted the counteroffer. Juan constructively received $3 million in 2012. FALSE 18.The constructive receipt doctrine requires that income must be recognized when it is made available to the cash basis taxpayer, although it has not been actually received.
Week 3 Problem Set Marlana Sisson Heber Howard December 22, 2012 University of Phoenix Problem 67 Chapter 5 Ken is 63 years old and unmarried. He retired at age 55 when he sold his business, Understock.com. Though Ken is retired, he is still very active. Ken reported the following financial information this year. Assume Ken’s modified adjusted gross income for purposes of the bond interest exclusion and for determining the taxability of his Social Security benefits is $70,000 and that Ken files as a single taxpayer.
Answer: Because Mary Beth does not devote more than 750 hours to office management she has to treat the income as passive. This loss can only be applied to her passive income. 8-34 Mike and Sally Card file a joint return for the 2012 tax year. Their adjusted gross income is $65,000 and they incur the following interest expenses: Qualified Education Loans: 3500 Personal loans: 1000 Home Mortgage Loan: 4000 Loan for Stocks, Bonds, Securities: 15000 Investment income and related expenses amount to $7,000 and $500, respectively. What is Mike and Sally's interest deduction for the 2012 tax year?
A- What is the finance charge on this loan? $50 + $5 = $55 B- Dave borrowed $500 on January 1, 2006 & paid it all back at once on Dec 31, 2006. What was the APR? $55 on $500 or 11% APR C- If Dave paid the $500 in 12 equal monthly payments, what is the APR? 20.3% 4.
During the current year, she rented it for $1,500 for 48 days, and lived in it for 12 days. How would any expenses be accounted for? Question : (TCO 3) During the year, Rick had the following insured personal casualty losses (arising from one casualty). Rick also had $18,000 AGI for the year. Question : (TCO 3) John had adjusted gross income of $60,000.
| | 17 | Recorded cash received for services rendered during the week, $5,000. | | 20 | Paid for the remainder of the equipment purchased on May 6. | | 21 | Received $240 in advance of cleaning and boxing a wedding gown. | | 23 | Performed $390 of dry cleaning services for Tuxedos Unlimited. It will remit payment in three days.
His trivialized view of the rational nature of suicide is one that I do not think translates to the American situation. Dalrymple views the large number of attempted suicide as being promoted by what he terms “the boredom of self-absorption”. The post attempt treatment that the patient receives is credited, according to Dalrymple, for giving him a sense of vitality. He also sees the attempted suicides as a way in which people try to avoid certain situations, whether they are an upcoming court hearing or the start of a new job. For Dalrymple, the overdose is the easiest way to relieve the crisis in their lives.
This house was a shot gun house, you could fire a gun from the front door and it goes straight through the back door not hitting anything. On January 8, 1935 Gladys delivered a stillborn son named Jesse Garon the 35 minutes later Elvis Aron was born. The new parents were unable to pay the doctors bill, so he collected welfare. By the time Elvis was three his father was sent to prison for forgery. He pled guilty and sentenced to three years at Parchment Farms Penitentiary.
A private attorney, secured by the defendant, often takes advantage of this situation. With a much lighter caseload, they have the time, expertise, and motivation to look for flaws in the cases (Hurtibise). This is motivation for the prosecution to either drop or reduce the charges in order to concentrate on cases that deal with more serious charges. A special DUI unit should be set up in the court specifically for DUI prosecution giving prosecutors the same advantages as defense attorneys. To alleviate the taxpayer of having to pay the cost of this new unit, the defendant should pay the cost if he/she is convicted of the DUI.