Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 3) ryan and nat each have income of over $200,000.

3) Ryan and Nat each have income of over $200,000. During the year, they paid...

80.2K

Verified Solution

Question

Accounting

3) Ryan and Nat each have income of over $200,000. During the year, they paid a nanny $20,000 to care for their three children. Eric, age 5, has no income. Ellen, age 10 is disabled and eligible for the disability tax credit. Edwin is 12 and has income of $25,000 which he earns from a TV acting job. What is the maximum deduction for child care costs for this family?

A) $18,000

B) $19,000

C) $24,000

D) $22,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

Spiritual development may be viewed in terms of both moral reasoning / decision making and moral...

Psychology
1.2K views

. What are common factors across psychotherapies? What psychotherapies are typically used for what disorders

Accounting
1.2K views

The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card...

Basic Math
1.2K views

Explain in words how each of the following functions are related to y = ?x...

Algebra
1.2K views

Solve the given initial value problem y y 26y 24y 0 y 0 3 y...

Algebra
1.2K views

a The graph of y f x is shown Draw the graph of y f...

Accounting
1.2K views

The good as old company manufactures antique looking oak rocking chairs. Budgeted sales for the...

Accounting
1.2K views

The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming...

Accounting
1.2K views

Gentile Corporation makes a product with the following standard costs Input Standard Quantity or Hours...

Accounting
1.2K views

Like other corporations, Langden Homes Inc. can extend its operations through

Accounting
1.2K views

Question 4 of 20. What is the estate's income distribution deduction? 160

Finance
1.2K views

Question 2 Your firm wants to issue more equity but finds it costly to do...