They had child care costs for their dependant daughter, Tara. Form 2441, Child and Dependant Care Expenses, is the appropriate form to review and calculate the deduction for the credit available to them. Petersan’s child care costs for 2010 were $10,320. However, the IRS limits the allowable expense for one qualifying child to $3,000 or the income from the lowest wage earner. For the Petersan’s their allowable expense will be $3,000.00 for their one qualifying child, and based on their AGI of $90,916.00, they are limited to a $600.00 ($3,000 x .20) credit.
Federal Taxes Class Week 1 Assignment 1 Problems 3-31. Tom and Linda’s taxable income for 2011 is follows. First we have to subtract itemized deductions from AGI. So, $40000-$11950=$28050. Then we have to subtract 4 exemptions from $28050.
Average daily attendance (ADA) is the total number of days of attendance for all students, divided by the total number of school days in a given period (2011). There are many features to consider when deciding whether ADA will work the school district. As a school district, the student intern must determine the number of students funding must be provided for throughout the entire district. The number of days students will need funding must also be weighed. Determination on when students need to be accounted for is needed so that the allocation of monies is accurate.
The County also funded projects for the Howard Community College and for road intersection improvement. The debt outstanding for education projects is $374.7 million and for college projects is $43.3 million, excluding the capital assets funded by the debt. The current net value of the Public School System’s buildings and improvements is $561.4 million. Highlighting the flow of assets and debts, the stakeholders can understand the fund spending on these major projects and can monitor the operation of education system in the
DSO = Receivables / Ave. sales per day Receivables= DSO * Ave. sales per day = 20 * 20,000 Receivables= $400,000 (3-2) Debt Ratio: Vigo Vacations has an equity multiplier of 2.5. The company’s assets are financed with some combination of long-term debt and common equity. What is the company’s debt ratio? Debt ratio = 1 – (1 / Equity multiplier) Debt ratio = 1 – (1/2.5) = 1 - .40 = .60 Debt ratio = 60% (3-3) Market/Book Ratio: Winston Washers’s stock price is $75 per share. Winston has $10 billion in total assets.
Calculate the amount of employee taxes withheld and prepare the company's journal entry to accrue the January salaries expense and withholding of January taxes. Answer: Salaries Expense | 8,000 | | FICA–Social Security Taxes Payable ($8,000 x .062) | | 496 | FICA–Medicare Taxes Payable ($8,000 x .0145) | | 116 | Employees' Federal Income Taxes Payable ($8,000 x .15) | | 1,200 | Accrued Payroll Payable | | 6,188 | 11. On December 1, 2007 Gates Company borrowed $45,000 cash from FirstBank on a 90-day, 9% note payable. a. Prepare Gate's general journal entry to record the issuance of the note payable.
(Williams.) Sometimes the answers were not perfectly correct but as long as you followed the proper steps to get there, you were on the right track. We were educated to do what we were told and to study from what was being taught. Even though some middle class schools do not have all the equipment to give a well maintain grounding in what profession they may be instructing, does not persuade the fact that the professor does not give 100%. As well as the professors, the parents are a huge success in the children’s success in an institution.
It is their responsibility to support Head teachers in producing the School Improvement Plan. This is a one year plan which links the School Self Review process and budget. The School Improvement Plan is formulated, by the Head Teacher and Governors, using information gathered from an analysis of data of school attainment together with feedback from all stakeholders including staff, governors, parents, carers and children. The purpose of the school improvement plan is to review and evaluate the impact of previous developments, identify key areas for school improvement over the coming year and to outline the action to be taken in key areas. The school budget is then matched to the priorities for the School Improvement Plan.
Fees are charged for any additional hours. Some 2-year-olds in England can also get free early education and childcare if their parents are in receipt of certain benefits. These are, income Support, income-based Jobseeker’s Allowance (JSA), income-related Employment and Support Allowance (ESA), support through part 6 of the Immigration and Asylum Act, the guaranteed element of State Pension Credit, the Working Tax Credit 4-week run on (the payment you get when you stop qualifying for Working Tax Credit), Working Tax Credit, Child Tax Credit or both and have a gross household income of £16,190 a year or less Children are also entitled to a place if they’re looked after by a local council, they have a current statement of special education needs (SEN) or an education health and care plan, they get Disability Living Allowance, or if they’ve left care under a special guardianship order, child arrangements order or adoption order. The free early education and childcare can be at nursery schools, nurseries on school sites, nursery classes in schools and academies, children’s centres, day nurseries, some playgroups and pre-schools, childminders and Sure Start Children’s Centres. Once children are old enough they can enter the Reception class of a school.
• Matthew took a distribution from his IRA to pay for some of his education expenses. All his IRA contributions were deductible in the year he made them. • Matthew’s 67-year-old mother, Deborah,