Mr. And Mrs. Claus have two children. The ages of the children are 3 and...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Mr. And Mrs. Claus have two children. The ages of the children are 3 and 13. All the children are in good mental and physical health. During the current year, Mr. Claus has net employment income of $52000, after the deduction of employment expenses of $6,000. Mrs. Claus has net business income during this period of $80,000, after deducting business expenses of $15,000. The child care costs for the current year, all properly documented for tax purposes, are $1800. Determine the maximum deduction for child care costs that Mr. Claus should claim. Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response. Your Answer: Answer Question 13 (1 point) Listen On November 3, 2019, at the request of her employer, Ms. Minnie Martin moves from Nova Scotia to Saskatchewan. She has always lived in a rented apartment and will continue to do so in Saskatchewan. The cost of the actual move, including the cost of moving her personal possessions, was $7200. In addition, she spent $10000 on a separate house hunting visit to Saskatchewan in a search for appropriate accommodation, and $1,000 as a penalty for breaking her lease in Nova Scotia. During the year, her salary totaled $50,000, of which $2400 can be allocated to the period after November 3, 2019. What is her maximum moving expense deduction for 2019? Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response
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!