Benito is age 29 and single. During all of 2018, he did not have qualifying health coverage
Question:
Benito is age 29 and single. During all of 2018, he did not have qualifying health coverage nor was he eligible for an exemption. His household income was $47,650. What is the amount of shared responsibility payment he must report on his 2018 income tax return?
a. $0
b. $695.00
c. $891.25
d. $1,191.25
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (10 reviews)
c 89125 Feedbac...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Fundamentals Of Taxation 2019
ISBN: 9781260158670
12th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
Question Posted:
Students also viewed these Business questions
-
What are the five filing statuses that are permitted on a Form 1040?
-
Mimi is 22 years old and is a full-time student at Ocean County Community College. She lives with her parents, who provide all of her support. During the summer, she put her Web design skills to work...
-
What is the amount of the tax liability for a married couple filing jointly with taxable income of $135,500? a. $25,418. b. $28,333. c. $26,810. d. $21,689.
-
Sketch the graph and draw several vertical and horizontal traces. (x, y) = sin(x y)
-
During the first six weeks of his senior year in college, Brace sends out at least one resume each day but no more than 60 resumes in total. Show that there is a period of consecutive days during...
-
Find the indicated vector sums and differences with the given vectors by means of diagrams. E B A B C D E
-
4. Given your answer to question 2, assume that you're in a job interview and the interviewer asks about your knowledge of technology. Write a three-sentence response to the interviewer's question.
-
Using the information from SE 4 and the following data, compute the total cost per equivalentunit: Direct materials Conversion costs Bepinning Work in Process $20,400 32,490 Costs for the Period...
-
consider the income statement below. what are the values in the cells with xxxxx 0 0.769 10 g ? Consider the income statement below. What is the value of long-term debt ASSETS Current assets 200.000...
-
This week, you will conduct system selection, which requires completion of the following steps: Reviewing a Request for Proposal (RFP)this invites selected vendors to submit a proposal to you that...
-
Arno and Bridgette are married and have combined W-2 income of $74,612. They paid $344 when they filed their taxes. How much income tax did their employers withhold during the year? a. $5,350. b....
-
Wanda and Austin are under the age of 65 and file their tax return as married filing jointly. They had qualifying health coverage for three months during 2018. They were not eligible for an...
-
How could the concept of making such evaluations mandatory be implemented? MINI CASE Overall, in the light of this study, we would come out strongly in favor of post-project reviews (provided you do...
-
As a job candidate in what way can I apply digital communications to ensure I thrive in the environment of recruiting by using social media for background checks
-
You hold a bond portfolio that consists of (i) a 4-year bond with a face value of $100 that pays an annual coupon of 10%, and (ii) a 2-year bond with a face value of $100 that pays an annual coupon...
-
Draw an original market equilibrium that describes the state of the market before the given scenario occurs. Clearly label both axis, label each a single supply curve and a single demand curve, and...
-
Analyze tools and/or metrics that a leader or manager should use to ensure that they are aligned and working together. Evaluate leadership strategies that could be employed to foster a positive...
-
Mexico has two main government programs that transfer income to rural households. PROCAMPO , which pays a set amount per acre to farmers who grew basic grains in a base year prior to the elimination...
-
You are saving for a new car. You place $10,000 into an investment account today. How much will you have after four years if the account earns (a) 4%, (b) 6%, or (c) 8% compounded annually?
-
A simple random sample of 220 university students were asked what pasta they usually order and with which sauce. The preferences of these respondents are summarised below: Sauce Bolognese Pasta...
-
A new client, John Dobson, recently formed Johns Premium Steakhouse, Inc., to operate a new restaurant. The restaurant will be a first-time business venture for John, who recently retired after 30...
-
Collettes S corporation holds a small amount of accumulated earnings and profits (AEP), requiring the use of a more complex set of distribution rules. Collettes accountant tells her that this AEP...
-
For each of the following independent statements, indicate whether the transaction will increase (+), decrease (), or have no effect (NE) on the basis of a shareholders stock in an S corporation. a....
-
explain in excel please For a particular product the price per unit is $6. Calculate Revenue if sales in current period is 200 units. Conduct a data analysis, on revenue by changing the number of...
-
Hall Company sells merchandise with a one-year warranty. In the current year, sales consist of 35,000 units. It is estimated that warranty repairs will average $10 per unit sold and 30% of the...
-
Q 4- Crane Corporation, an amusement park, is considering a capital investment in a new exhibit. The exhibit would cost $ 167,270 and have an estimated useful life of 7 years. It can be sold for $...
Study smarter with the SolutionInn App