5 points (points) and Gordon are married and file jointly. They have one son, Gabe, who is 2 and goes to daycare throughout the week. The married couple en 5150,000 in total wages (ogether) throughout the year. The total cost for Gabe's daycare throughout the year is $2,000 Ignoring your own mare about different tax beoefits that parents can use to claim a tex benefit for daycare costs, use only the information below is determining the appropriate daycare-related tex benefits) the couple should claim to give them the largest reduction in their Foderal isovese tes bill for the year. Eistitions tax policy information for assessing the taxpayers decuies As there are only o Federal income tax benefits available related to daycare costs: The tax system allows each dollar of child care cost to be used to claim gither a dollar of flexible spending sect mory (alkrwing an exclusion of that dollar from recogsible income) or a dollar of the tax credit aflat $600 sax credit for child care coits called the "Helping Haats Childcare Credit" and 2a Bexible speading account child care con up to $2,000, where peats are allowed to take $2,000 out of their salaries (combined) pre-tax for this specific use The tas system allows each dollar of child care cast to be used to claims her a dollar of flexible spending account money (allowing an exclusion of that deller from recognizable ins) or a dollar of the Atayer cannot claim the both a dollar of flexible speidiog account moory soda dollar of credit for the sanse dollar of daycare costs incurred tax credit However, if the taxpayer user ene of the tex benefits for the daycare costs, reaches the limit of that benefit that is available, and has excess daycare costs that didn't receive this first bearfix, it can use those excess daycare cests to claim the other beautic Raced on the information above, ideatify which of the below options for tax planning with Gabe's daycare costs would give the most Federal income tax benefit (reduction in Federal income tases de) for lo and Gordon that is allowed with the tax system outlined above. Asume the couple have no other For AGI dedictions or itemsized dodactions for the year 5600 of crede $1,400 of flexible spending accou Ob 5300 of credit $1,000 of flexible speaking const O $600 at credit: $2,000 of Besible spending accoust Od 50 of credit, $2,000 of flexible spending accom Question 26 5 points (2) and Goedon are married and file jointly. They have one son. Gabe, who is 2 and goes to daycare throughout the week. The married couple eam $150,000 in total wages (together throughout the year. The total cost for Gabe's daycare throughout the year is $2.000 moring your own awareness about different tax bearfim that parents can use to claim a sex benefit for daycare costs, we only the information below in determining the appropriate daycare-related tax benefit the couple should claim to give them the largest reduction in their Federal income tax bill for the year Extions tax policy information for in the dec Assume there are only two Federal income un beselin avilable related to daycare costs. The tax system allows each dollar of child care cost to be used to claim that a dollar of fleuble spending account money allowing an exclusion of that dollar from recognizable income) or a dollar of the tax credit. a flat 5600 tax credit for child care comes called the "Helping Hands Childcare Credit" and 2a0esible spending account for child care cests up to $2,000, where parents are allowed to take 52,000 out of their salaries (combined) pre-tax for this specific use The tax system allows each dollar of child care cost to be used to claim githar a dollar of flexible spending account money callowing an exclusion of that dollar firm recognizable income or a dollar of the A taxpayer cannot claim the bott a dollar of fouble spcoding account money and a dollar of credit for the same dollar of daycare costs intered tax credit However, if the taxpayer uses one of the tax benefits for the daycare costs, reaches the limit of that benefit that is available, and has excess daycare costs that didn't receive this first benefit, it can use those excess dayce costs to claim the other besef Based on the information above, identify which of the below options for tax planning with Gabe's daycare costs would give the most Federal income tax benefit coeduction in Federal income taxes dee) for llons w Gorden that is allowed with the tax cystem onlined above. Asume the couple have no other For AGI deductions or itemized defuctions for the yea O $600 of credit $1,400 of flexible spending account, Ob 5300 of credit, $1.000 of flexible spending soun On 3600 of credit: $2,000 of desible spending account. Od 50 of credit $2,000 of flexible spending account 5 points (points) and Gordon are married and file jointly. They have one son, Gabe, who is 2 and goes to daycare throughout the week. The married couple en 5150,000 in total wages (ogether) throughout the year. The total cost for Gabe's daycare throughout the year is $2,000 Ignoring your own mare about different tax beoefits that parents can use to claim a tex benefit for daycare costs, use only the information below is determining the appropriate daycare-related tex benefits) the couple should claim to give them the largest reduction in their Foderal isovese tes bill for the year. Eistitions tax policy information for assessing the taxpayers decuies As there are only o Federal income tax benefits available related to daycare costs: The tax system allows each dollar of child care cost to be used to claim gither a dollar of flexible spending sect mory (alkrwing an exclusion of that dollar from recogsible income) or a dollar of the tax credit aflat $600 sax credit for child care coits called the "Helping Haats Childcare Credit" and 2a Bexible speading account child care con up to $2,000, where peats are allowed to take $2,000 out of their salaries (combined) pre-tax for this specific use The tas system allows each dollar of child care cast to be used to claims her a dollar of flexible spending account money (allowing an exclusion of that deller from recognizable ins) or a dollar of the Atayer cannot claim the both a dollar of flexible speidiog account moory soda dollar of credit for the sanse dollar of daycare costs incurred tax credit However, if the taxpayer user ene of the tex benefits for the daycare costs, reaches the limit of that benefit that is available, and has excess daycare costs that didn't receive this first bearfix, it can use those excess daycare cests to claim the other beautic Raced on the information above, ideatify which of the below options for tax planning with Gabe's daycare costs would give the most Federal income tax benefit (reduction in Federal income tases de) for lo and Gordon that is allowed with the tax system outlined above. Asume the couple have no other For AGI dedictions or itemsized dodactions for the year 5600 of crede $1,400 of flexible spending accou Ob 5300 of credit $1,000 of flexible speaking const O $600 at credit: $2,000 of Besible spending accoust Od 50 of credit, $2,000 of flexible spending accom Question 26 5 points (2) and Goedon are married and file jointly. They have one son. Gabe, who is 2 and goes to daycare throughout the week. The married couple eam $150,000 in total wages (together throughout the year. The total cost for Gabe's daycare throughout the year is $2.000 moring your own awareness about different tax bearfim that parents can use to claim a sex benefit for daycare costs, we only the information below in determining the appropriate daycare-related tax benefit the couple should claim to give them the largest reduction in their Federal income tax bill for the year Extions tax policy information for in the dec Assume there are only two Federal income un beselin avilable related to daycare costs. The tax system allows each dollar of child care cost to be used to claim that a dollar of fleuble spending account money allowing an exclusion of that dollar from recognizable income) or a dollar of the tax credit. a flat 5600 tax credit for child care comes called the "Helping Hands Childcare Credit" and 2a0esible spending account for child care cests up to $2,000, where parents are allowed to take 52,000 out of their salaries (combined) pre-tax for this specific use The tax system allows each dollar of child care cost to be used to claim githar a dollar of flexible spending account money callowing an exclusion of that dollar firm recognizable income or a dollar of the A taxpayer cannot claim the bott a dollar of fouble spcoding account money and a dollar of credit for the same dollar of daycare costs intered tax credit However, if the taxpayer uses one of the tax benefits for the daycare costs, reaches the limit of that benefit that is available, and has excess daycare costs that didn't receive this first benefit, it can use those excess dayce costs to claim the other besef Based on the information above, identify which of the below options for tax planning with Gabe's daycare costs would give the most Federal income tax benefit coeduction in Federal income taxes dee) for llons w Gorden that is allowed with the tax cystem onlined above. Asume the couple have no other For AGI deductions or itemized defuctions for the yea O $600 of credit $1,400 of flexible spending account, Ob 5300 of credit, $1.000 of flexible spending soun On 3600 of credit: $2,000 of desible spending account. Od 50 of credit $2,000 of flexible spending account