1.) Kevin and Christy have two children, ages 8 and 14. In 2022 they spend $7,200 on eligible employment related expenses for the care of the their children after school. $4,200 was spent for child care for their 8 year old son, Justin and $3,000 was spent for their 14 year old daughter Kylee. Kevin earned a salary of $15,200 and Christy earned a salary of $68,000. What is the amount of the couple's credit for child and dependent care expenses for 2022?

2.)Moesha establishes a Roth IRA at age 40 and contributes $105,000 over 20 years. The current value of the account is $226,000. How much of the funds can Moesha withdraw tax-free?

3.)

Lori's employer, CKAM Inc., has a 401(k) plan at work which allows it's employees to make deferred salary contributions. Lori's salary is $120,000 for 2022 and her marginal rate is 24%. Lori is single and age 60.

What is the maximum amount Lori can contribute to her 401(k) for 2022?

If Lori contributes the maximum amount to her 401(k) plan how much will that save her in tax for 2022?

4.)

Alice and Frank are married filing jointly for 2022 and have two children in college. Alicia is a student at West Chester University majoring in accounting. Alicia is in her fifth year at WCU. Total tuition paid for Alicia in 2022 was $8,000. John is in his sixth year at PSU majoring in basket weaving. The total tuition paid for John in 2022 was $14,000.

Which education credit are Alice and Frank eligible for on their 2022 tax return? Calculate the amount of the credit available for Alice and Frank for 2022.

5.)

During 2022, Donna ( a self-employed accountant who also works part-time for a CPA firm) used her car as follows: 12,000 miles (business), 1,400 miles (commuting), and 4,000 miles (personal). In addition, she spends $440 for tolls (business) and $620 for parking (business). If Donna uses the automatic mileage method, what is the amount of her deduction for 2022?,