Question
Gianna uses the head of household filing status and claims her six-year-old daughter. Her marginal tax rate is 10%. Her AGI is $26,000. Which statement
Gianna uses the head of household filing status and claims her six-year-old daughter. Her marginal tax rate is 10%. Her AGI is $26,000. Which statement is TRUE about Gianna's tax credits?
The maximum Saver's Credit would be up to 20% of her contributions to retirement accounts.
The maximum Child and Dependent Care Credit would be 29% of her expenses.
Gianna's Earned Income Tax Credit would decrease if she lowered her AGI by $1,000.
The refundable Additional Child Tax Credit is limited to $1,000.
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Business Communication Process and Product
Authors: Mary Ellen Guffey
6th Edition
324578679, 9780324578683, 9780324542905, 176721258, 9780324578676, 324542909, 9780176721251, 978-0324542905
