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Henry and Maria Jones were both employed full-time during the year. The Joness have 3 children: Gloria (age 12), Billy (5 years old) and Gordo
Henry and Maria Jones were both employed full-time during the year. The Joness have 3 children: Gloria (age 12), Billy (5 years old) and Gordo (3 years old). The Jones employed a nanny to look after their children and paid her $24,000 for the year. In addition, during August, the 5-year-old went to overnight camp for 3 weeks at a cost of $400 per week. The Jones family income is summarized below mary sam
Salary and taxable benefit | 28,500 | ||
Employment expense | (5,800) | ||
Business income | |||
revenues | 75,000 | ||
Expense deductible for tax purpose | (45,000) | ||
Interest income | 1800 | 3500 |
What is the maximum child care deduction that can be claimed by the Browns in the year?
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