Amazinggrace

What income reporting form should an independent contractor sometimes receive from the person who paid him for his services? Form 1099-MISC (15.6) Schedule C, Line F asks for the accounting method used in the business. What is the difference between the cash method and the accrual method of accounting? • Under the accrual method, total sales and total charges for services are included in income even though payment may be received in another tax year. • Under the cash method, only incom...

What is the Difference between earned income and unearned income? Earned income is received for services performed. Examples are wages commissions, tips and generally farming and other business income . Taxable income other than that received for services performed. Unearned Income includes money received ro the investment of money or other property, such as interest, dividends, and royalties. It also includes pensions alimony, unemployment compensation and other income that is not earned ...

A tax returner or claim for refund requiring a paid tax return preparer to determine eligibility for EITC, CTC/ODC/ ACTC, AOTC, and the head of household filling status may be subject to a maximum penalty, totaling what amount for failure to meet due diligence requirements if all four are claimed on a single tax return? a,$2,120 the deduction for state and local income taxes is limited to what amount? a. $10,000 ($5,000 if MFS). A married couple who materially participate in the operation ...

Frank's electric bill has a cycle day of the 3rd and a due date 8 days later with a one day grace period. What happens if Frank pays his electric bill on the 12th of the month? His payment is received after the due date but he will not be assessed a late fee because of the grace period. On the Budget Challenge Cash Flow Spreadsheet (CFS) (this file is downloadable on the "How to Play" page of the website), what column should interest earned from her checking account be entered? Deposits ...

Some types of income do not need to be reported anywhere on a federal tax return. This includes all of the following EXCEPT: A.) Most medical insurance proceeds B.) Worker's compensation paid to an employee who was injured on the job. C.) Welfare benefits D.) Unemployment compensation D.) Unemployment compensation Which of the following is considered earned income? A.) Interest from a bank account. B.) Unemployment compensation C.) Income from farming D.) Gambling Winnings C.) Income ...

An IRS examination and verification of a taxpayer's return or other transactions with tax consequences. A correspondence audit is a tax audit that the IRS performs by mail. An office audit is an audit by the IRS which is conducted in the agent's office. A field audit is conducted by the IRS on the business premises of the taxpayer or in the office of the tax practitioner representing the taxpayer. AUDIT Regulations governing the practice of attorneys, certified public accountants, enrolle...

Carolyn earned $52,000 as a full-time employee in 2018. Due to procrastination and denial, she did not prepare her 2018 income tax return until June 23, 2019. Carolyn did not file the return until August 1, 2019. She did not request an extension of time to file. Her return showed a balance due of $1,500. What is her penalty? The IRS assesses a late filing penalty for four months. Carolyn's penalty is $300 [5% x 4 x $1,500]. Julie filed her 2018 income tax return on April 15, 2019, with a b...

How does credit utilization affect your credit score? Keeping credit utilization below 30% increases your score. Which would not be identifying information included in a credit report? Marital status What would be the most likely difference between loans offered to someone with a good credit score versus a loan offered to someone with an excellent score? The person with good credit will pay a higher interest rate than the person with excellent credit. Which best describes the main role of ...

Why is the Payroll Calculator helpful in determining the effect of a 401K contribution on net pay? 401(k) contributions reduce the federal tax owed. What minimum balance must be maintained in the emergency fund in order to earn the trophy? $500 How can a participant earn the Perfect Pay trophy? Pay all of their bills in full and on time. What happens if a participant overpays a vendor and needs the money to pay a different bill? The money will be refunded overnight if the participant reque...

Which of the following dependent relatives does not have to live in the same household with the taxpayer at any time during the year to qualify the taxpayer for head of household status? Aunt,mother,brother, married child? Mother Ronald and Sue Dobbins, a married couple, were both 61 years old when Ronald died on January 1, 2017. Sue did not remarry. How many personal exemptions may Sue claim when filing her joint 2017 return? 2 Jennifer Searcy, a single mother, has three children, Sydney ...

Where should unemployment compensation be reported on Form 1040? Schedule 1, line 7 What form is used to report long-term disability benefits to the taxpayer? 1099-R Which of the following nondependent taxpayers is NOT eligible to claim the student loan interest deduction? A taxpayer filing married filing separately Which qualifying child requirement does Morris fail? Morris, the potential dependent, is a single 20-year-old man. He is a full-time student at the local university. He lives...

What is the standard deduction for a taxpayer filing single? $6200 What is the standard deduction for a taxpayer filing married filing joint? $12400 What is the standard deduction for a taxpayer filing married filing separate? $6200 What is the standard deduction for a taxpayer filing qualifying widow? $9100 What is the standard deduction for a taxpayer filing head of household? $9100 What does Form 1099-G provide? Certain government payments such as unemployment. What is a standard deduct...

The nurse is assisting a patient with rheumatoid arthritis to bathe at the sink. During the bath the patient states that she is tired. The nurse notices the patient is breathing rapidly and the pulse is rapid. What is the nurse's best response? A. Finish the bath quickly B. Help the patient return to bed C. Leave the patient alone to rest in the chair at the sink for a few minutes D. Instruct the patient to take deep breaths and try to relax B A patient who is cognitively impaired and ha...

what is the proper position to use for an unresponsive Pt. during oral care to prevent aspiration? 1. prone position 2. sims' position 3. semi fowler's position with head to the side 4. supine position 2, 3 the student nurse is teaching a family member the importance of foot care for his or her mother, who has diabetes. which safety precautions are important for the family member to know to prevent infections? 1. cut nails frequently 2. assess skin for redness, abrasions, and open are...

The client is unresponsive & requires total care by nursing staff. Which assessment does nurse check first before providing special oral care to client? A. Presence of pain B. Condition of the skin C. Gag reflex D. Range of motion C. Gag reflex Client will be positioned in sidelying position w/ head of bed lowered b/c client is at risk for aspiration. absence of gag reflex lets nurse know that client has no natural defense (cough) & is at higher risk for aspiration. The client is in sur...

Which client is most likely to require hospitalization related to problems associated with the feet? A) A client with peripheral vascular disease B) A client with osteoporosis C) A client with asthma D) A client with diabetes insipidus Ans: A Feedback: Foot problems, particularly common in people with diabetes and peripheral vascular disease, often require hospitalization. The nurse assists the client to the bathroom sink to perform morning care. The nurse observes the client wash his...

What is a Punisher something the learner will work to avoid and diminishes likelihood behavior will repeat Primary Reinforcers food, reproductive opportunity, water, physical and emotional security, sometimes play Secondary Reinforcer The stimulus is paired with or predicting a primary reinforcer, EX: clicker predicting food Tertiary Reinforcer A behavior or stimulus that has been paired with or predicts a secondary reinforcer; helps create behavior chains Stimulus definition Something t...

Coppinger's theory is that dogs evolved by ________ ___________, not ________ _________ natural selection, artifical selection According to Coppinger, proto-wolves genetically predisposed to show _______________. less flight distance than regular wolves New niche wolves gained _________ ________ for living with humans over regular wolves selective advantage Wild animals can be tamed by patient handling and socialization but they can't be considered domesticated until _____________. they...

Clapping your hands excitedly to get your dog to come is: A. Prompting B. Capturing C. Fading the Lure D. Primary Reinforcer A. Prompting According to the Humane Hierarchy, environmental factors are: A. Between positive reinforcement and negative punishment B. Directly above negative reinforcement C. Above classical conditioning D. At the bottom of the hierarchy C. Above classical conditioning

The dog sits and a treat is given. The dog learns to sit. Positive Reinforcement While walking on leash the dog lunges forward and feels pain associated with the tightening of a prong collar. The dog learns not to lunge against the collar. Positive Punishment The dog barks at the owner for attention and the owner leaves the room. The dog learns not to bark at the owner. Negative Punishment The puppy jumps against the owners legs and no attention is given to the puppy. The puppy learns not ...