Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Marc contributed $2,500 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $1,500 (under a divorce decree effective June 1, 2005). Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000 child tax credit for Matthew. Marc and Michelle paid $6,000 of expenditures that qualify as itemized deductions and they had a total of $3,500 in federal income taxes withheld from their paychecks during the year. (Use the tax rate schedules.) Download the Tax Form and enter the required values in the appropriate fields. Complete pages 1 and 2 of Form 1040 for Marc and Michelle. (use the most recent form available).

Answers

Answer 1

The gross income of Marc and Michelle based on the information will be $76500.

How to calculate the gross income?

The gross income will be calculated by using the formula:

= Income from salary + Interest on bonds - Excluded income

= ($64000 + $12000) + ($350 + $500) - $350

= $76000 + $850 - $350

= $76500

Therefore, the gross income is $76500

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Related Questions

Why do you think people in general are affected by celebrity endorsements?

Answers

Answer:

People in general are affected by celebrity endorsements because they are big business.

Explanation:

Endorsement is a statement or action which shows that you support or approve of something that may not be of effect to common people since they are given by big  business which they are at times unable to relate with.

You remove an adult out of the water who
was floating face down and not moving.
They are unresponsive… What next?

Answers

Answer:

First of all, I think this is a dum question, but what you would (probably) do is give him/her CPR.

Explanation:

Common sense.

i think:

and don't worry)

Tax incidence is concerned with tax loopholes.
Please select the best answer from the choices provided
Т
F

Answers

Answer:

F

Explanation:

Tax incidence is concerned with tax loopholes. FALSE.

The belief that taxes should be paid based on benefits received, despite total income, is known as the benefit principle of taxation.


Which of these characteristics is consistent with a Straight Life policy?

Answers

i think it’s d good luck

Select the correct answer. Anna claims to be a bank employee. She sends emails with exciting offers to the bank's customers and asks for their bank account details. Which technique is Anna using to steal information? Ο.Α. stalking B. keylogging O C. hacking O D. dumpster diving E. phishing​

Answers

Answer:

I think its phishing but I'm not 100% sure

Explanation:

answer E

Phishing

Anna claims to be a bank employee & sends emails with exciting offers to the bank's customers and asks for their bank account details. The  technique is Anna using to steal information is phishing​. The correct option is (E).

What is phishing?

Phishing is a type of social engineering in which attackers trick victims into disclosing personal information or downloading malicious software, such ransomware.

A form of cybersecurity assault known as phishing involves hostile actors sending messages while posing as a reliable individual or organization.

In reality, over 25% of all data breaches involve phishing, and 85% of data breaches have a human component, according to Verizon's 2021 DBIR.

A phishing attack's main objective is typically to obtain sensitive information from its victims, such as logins and passwords, in order to gain access to the network or business that is being targeted.

Therefore, Anna claims to be a bank employee & sends emails with exciting offers to the bank's customers and asks for their bank account details. The  technique is Anna using to steal information is phishing​.

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If I sell 700 units of
product at $.79
each what is the
total revenue?

Answers

Answer:

i think its 553

Explanation:

Hope this helps

In case of an emergency, you should have money saved to cover expenses for at least _____. Select the best answer from the choices provided. A. one to three months B. two to four months C. three to six months D. four to eight months

Answers

In case of an emergency, you should have money saved to cover expenses for at least three to six months

Easy question 20 points……..

Answers

Answer:

The correct answer is A.

Explanation:

The “intrusion of solitude” means that someone can sue regarding an invasion of privacy tort.

Judi Janson wishes to accumulate $8,000 by the end of 5 years by making equal, annual, end-of-year deposits over the next 5 years. If Judi can earn 7% on her investments, how much must she deposit at the end of each year to meet this goal?

Answers

Answer: 1,391.13

Explanation:

What is owner's equity?
Nonsense = Reported
Thank you ~​

Answers

Hii :))

Owner's equity is defined as the amount of money invested by the owner in the business minus any money taken out by the owner of the business.

~

Which of these is not one of the three uses of money?

a medium of exchange
a store of value
a means to barter
a unit of account

Answers

Answer:

The answer is means to barter. This is the obvious answer because barter means to exchange something without the use of money, so this answer would be a contradiction.

Explanation:

You have a great day, put God first, he's real and he loves you. My faceb account is Don Omega, hit me up over their. I'm 16 and live on Alabama.

Use a well labelled graph to explain why the introduction of maximum prices in the petrol industry will not be an ideal decision for the country's economy. (8)​

Answers

A country's economy will go on a decline if there is a hyperinflation in the petrol prices.

What is hyperinflation?

Extreme increase in prices in a very short span of time is regarded as the condition of hyperinflation. If there is hyperinflation in the petrol prices, its demand will be lowered and people will look for substitutes.

Thus, increase or hyperinflation in the petrol prices will lead to declining of a country's economy and will not serve as a wise decision.

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Easy question 18 points………….

Answers

Answer: D) Duty of care, breach of duty, causation, and harm

Detailed Explanation:

Negligence claims must prove four things in court: duty, breach, causation, and damages/harm.


Jamal runs a successful small business in the United States and has decided to expand internationally. When Jamal
attempted to obtain the necessary government permit in a developing country, he most likely learned that

Multiple Choice
The news media expert a kickback so Jamal won’t receive any bad publicity.

It’s easier to open a business without a permit

The uniform commercial code has streamlined the permit process

Corrupt public officials expect him to pay bribe money to get the permit.

Answers

Answer:

It’s easier to open a business without a permit

Explanation:

it just is. until somebody finds out. it is more difficult to get a bussiness permit than not

While Jamal attempt to get a govt license in a developing country then he comes to know that it is easy to set up a business even without a license.

Option B is the correct answer.

What is a license?

A license is a record or a document that signifies permission to an individual to do something.  

Small businesses are the entities set up in the small-scale economy of a country. The business can be set up by Jamal very easily in the developing nation as it requires no license in the beginning but can require them for further growth in the business.

Therefore, the explanation provided in Part B is something that is being learned by Jamal while trying to get a license.

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Global marketing strategies that affect customer volume include strategies that: Attract new customers to grow in market share. Grow the market demand by bringing more customers into a market. Enter new markets to create new sources of customer volume Require some level of marketing effort to achieve a certain level of market share. A. (i), (iii) and (iv) B. (i), (ii) and (iii) C. (i) and (ii) only D. (i), (ii), (iii) and (iv)

Answers

The option D is true as all the statements refers to the global marketing strategies that affect the customer.

What are Global marketing strategies?

Global marketing strategies are a part of an overall business plan. It is the process of adjusting the marketing strategies of a company to better fit the needs of potential customers in other countries.

Entering a new international market can give a company access to a new customer base, which can increase company revenue.

This may also have several other benefits, such as reduced labor costs, access to additional resources, and the ability to diversify risks.

Hence, Option D is true as it covers all the Global marketing strategies that affect customer volume.

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What can a borrower do to take control of their debt? O A. The borrower can apply for more credit cards. O B. The borrower can create a payment plan. O C. The borrower can make only minimum payments. O D. The borrower can pay bills selectively.​

Answers

The thing a borrower can do to take control of their debt is The borrower can create a payment plan.

What is a debt?

Debt refers to amount money borrowed or things someone owed a person and promises to refund or return back when it is available.

A borrower borrowed from the lender and it is the borrower that is in debt.

Therefore, The thing a borrower can do to take control of their debt is The borrower can create a payment plan.

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Respond to the following prompt in a post with a minimum of 250 words, then comment on at least TWO other posts. Respond to the posts indicating your agreement or disagreement with their position and why. Feel free to bring in additional references to these reply posts. Find a current news article or video (within the past 12 months) that describes some government intervention in the economy with the intent of controlling prices. Identify the parties who benefit and those who are or will be hurt by this intervention. What unintended consequences will likely or have occurred as a result of this intervention. What is your opinion on this matter? Why? Include your thoughts and the link to the article in your post.

Answers

Government, usually intervene in the foreign exchange market mainly for preventing violent fluctuations in the exchange rate. A foreign currency is sold when it is overvalued and bought when it is undervalued. As the US works to correct its deficit balance of payment account, devaluing the dollar seems like a feasible option. Dollar devaluation will help to increase the demands of American goods in the international market and supports the current policy initiatives.

What is intervention?

Intervention is an act of taking action about something in order to have an effect on its outcome.

Intervention strategies mean a plan for staff action that outlines methods, techniques, cues, programs, or tasks that enable the child to successfully complete a specific goal.

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Fill in the blank.

_______ researchers can be a costly aspects of starting a business. In most cases, you can find the information through your own efforts.

Most of the important information about your business will come from your _______.

It’s a good idea to research your _______ prices before setting your _______.

The _______ model is determined by adding a predetermined percentage to your cost.

A company website may be a _______ source of information but not a _______ one.

Answers

Paying market researchers can be a costly aspects of starting a business. In most cases, you can find the information through your own efforts.

What best complete the following?

Most of the important information about your business will come from your customers.

It’s a good idea to research your industry standard prices before setting your prices.

The cost contingency model is determined by adding a predetermined percentage to your cost.

A company website may be a secondary source of information but not a primary one.

What is a Market research?

Market research involves gathering and analyzing data on consumers and competitors. Market research studies market status to find potential sales of a product or service. It helps companies understand what products people want, who will buy them, and at what price.

Therefore, the correct answers are as given above.

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Answer:

1. Professional

2. research

3. competitor’s, own

4. cost plus

5. quick, reliable

Explanation: PF

Business Study assignment grade 10

Answers

Where the picture at so I can answer it
Where is the question

Daniel has saved $2,000 in a savings account that earns 0.5% interest annuallyWhat will most likely happen to the purchasing power of his savings over time?
PLEASE HELP!!

Answers

Based on the explanation below, the most likely thing to happen to the purchasing power of his savings over time is to fall.

What is purchasing power?

Purchasing power can be described as the amount of goods and services that a unit of currency or an amount of money can purchase.

The relationship between interest rate and inflation rate affects the purchasing power of a saving account.

When the interest rate is higher than the inflation rate, purchasing power increases.

But when the interest rate is lower than the inflation rate, purchasing power falls.

For example, for the 12 months ending April 2022, the annual inflation rate in the United States was 8.3%.

Since the 0.5% annual interest rate being earned by Daniel is lower than the 8.3% annual inflation rate, the most likely thing to happen to the purchasing power of his savings over time is to fall.

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Visit any retail store in your community and request a 20 minutes appointment to interview the owner or manager so that you can collect relevant information State the name of the business and the year in which it was established
1.1 List and explain any THREE objectives this business is able to meet?
1.2 Use an appropriate example from this retail store and differentiate between total revenue average revenue and marginal revenue.​

Answers

The three objectives in the retail store are:

Excellent Customer Service.Boast Brand Awareness.Create or form Brand Loyalty.

What is average revenue?

Average revenue is known to be the one that depicts how much revenue exist  per unit of the output.

Marginal revenue is one that connote the increase or boast up that is found in total revenue as it is said to be increasing from one output unit.

Note therefore, that if the three objectives in the retail store are meant, the store will have a lot of customers.

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Hi there !
Topic - Balance sheets
What is a capital expenditure versus a revenue expenditure?
Nonsense = Reported​
Please answer A.S.A.P
Thank you

Answers

Answer:

Capital expenditures are typically one-time large purchases of fixed assets that will be used for revenue generation over a longer period while revenue expenditures are typically referred to as ongoing operating expenses, which are short-term expenses that are used in running the daily business operations.


20: What are some ways you can stay financially literate?

Answers

Ayuda porfabor necesito ayuda


1. Describe a company that you think uses advertisement well as a promotional strategy.
What do you think makes their advertisements successful? (1-5 sentences. 2.0 points

Answers

Answer:

Coco-Cola.

Explanation:

Because of how many ads they put on tv this is my answer.

bruin manufacturing has expected ebit of $26,000 in perpetuity. a tax rat 35% and debt equity ratio of 60 percent. the firm has $60,000 in outstanding debt at an interest rate of 8percent and its wacc is 12 percent. what is the value of the firm according to m&m proposition 1 with taxes?. should bruin change its debt-equity ratio if the goal is to maximize the value of the firm? explain.

Answers

The value of the firm according to M&M proposition 1 with taxes will be as follows,

WACC = .12 = (100/160)RE+ (60/160)(.08)(.65) ;RE= .1608

RE= .1608 = RU+ (RU– .08)(.6)(.65) ;RU= .1381

VU= EBIT(1 – t)/RU= ($26,000)(.65)/.1381 = $122,348.96

VL= VU+ Dt = $122,348.96 + .35D = $140,833.33

Or

VL= EBIT(1 – t)/WACC = ($26,000)(.65)/.12

= $140,833.33

What is M&M proposition?

Miller and Modigliani theory mentions two propositions. Proposition I state that the market value of any firm is independent of the amount of debt or equity in capital structure. Proposition II states that the cost of equity is directly related and incremental to the percentage of debt in the capital structure.

B) Applying M&M Proposition with tax the capitals, the firm has increased its value by issuing debt. As long as M&M Proposition holds, that is, there are no bankruptcy costs and so then the company should continue to increase its debt equity ratio to maximize the value of the firm.

Thus, the value of the firm according to M&M proposition 1 with taxes will be $140,833.33.

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Which account(s) are found on an income statement? Select all that apply:

Owner's Equity

Cost of goods sold

Checking

Loan Payable

Accumulated depreciation

Answers

Answer:

accumulated depreciation

Explanation:

Accumulated depreciation is the total amount of depreciation expense that has been recorded so far for the asset. Each time a company charges depreciation as an expense on its income statement, it increases accumulated depreciation by the same amount for that period.

Accumulated depreciation and checking are found on an income statement. Thus, options C and E are correct.

What is accumulated depreciation?

Accumulated depreciation is the total depreciation that has been applied to the single point to the assets. Each time, depreciation is recorded and added in the beginning period of the accumulated depreciation.

The example of accumulated depreciation is the net book value of a piece of printing equipment is $65,000 if a business paid $100,000 for it and has accrued $35,000 in depreciation. $100,000 - $35,000 = $65,000. The cost of an asset cannot be exceeded by accumulated depreciation.

Thus, option C and E are correct.

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What can a borrower do to take control of their debt?
A. The borrower can create a payment plan.
B. The borrower can make only minimum payments.
C. The borrower can pay bills selectively.
D. The borrower can apply for more credit cards.

Answers

The answer is A: the borrower can create a payment plan

Answer:

the Answer is A. The borrower can create a payment plan.

Explanation:

Create an oral presentation about yourself that will provide your interviewee with an accurate picture of your skills and preparations for your chosen career. Using the Voice Recorder tool, create this in the form of a personal commercial in which you advertise your attributes in terms of what you’ll need for the chosen profession

Answers

In creating a personal commercial, one have to give a conversational and natural oral presentation. One can start with:

Been confident, have a good poised, and been professional.

What is a personal commercial?

Others are:

Greet by saying: Hello, my name is (name). State your Goal, Interest and also your passion and others kind of attributes that can set you apart from others.

A personal commercial is known to be a short introduction that a person often give to a specific employer, mentor, or others.

Conclusively, By following the steps above, one can give a good  personal commercial.

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identify two components from the business environment and support them with one example of each​

Answers

Business environment is simply the environment in which the business operates.

It includes the industry situation, the customers, the suppliers, the demand and supply of products of business, competitive position, government regulations, and everything that affects the business, directly or indirectly.

A down payment is:
O
a) The monthly payment you make towards your mortgage.
Ob) Part of your closing costs.
c)
The initial sum of money that you pay toward your house.
A homeowner's final mortgage payment.
d)
Submit

Answers

Answer:

C

Explanation:

Down payment is something that you pay upfront before getting anything.

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