Why are self-employed taxpayers allowed to deduct their medical insurance premiums and part of their self-employment tax
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 53% (15 reviews)
The reason for allowing for AGI deductions for these two items is to attem...View the full answer
Answered By
Rustia Melrod
I am a retired teacher with 6 years of experience teaching various science subjects to high school students and undergraduate students. This background enables me to be able to help tutor students who are struggling with the science of business component of their education. Teaching difficult subjects has definitely taught me patience. There is no greater joy for me than to patiently guide a student to the correct answer. When a student has that "aha!" moment, all my efforts are worth it.
The Common Core standards are a useful yardstick for measuring how well students are doing. My students consistently met or exceeded the Common Core standards for science. I believe in working with each student's individual learning styles to help them understand the material. If students were struggling with a concept, I would figure out a different way to teach or apply that concept. I was voted Teacher of the Year six times in my career. I also won an award for Innovative Teaching Style at the 2011 National Teaching Conference.
4.90+
4+ Reviews
10+ Question Solved
Related Book For
Concepts In Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
Question Posted:
Students also viewed these Business Law questions
-
Why are deductions for adjusted gross income ''better'' than deductions from adjusted gross income?
-
Are taxpayers allowed to deduct net capital losses (capital losses in excess of capital gains)? Explain.
-
Determine the taxpayers current-year (1) economic income and (2) gross income for tax purposes from the following events: Curtis, age 18, has income as follows: $700 interest from a certificate of...
-
Discuss in your own words why internal auditors often fail to detect frauds. You should discuss a minimum of four reasons.
-
Yeast take up and metabolize galactose, using the pathway outlined in Fig. 15-28. Galactose-1-phosphate, an intermediate of this pathway, inhibits phosphoglucomutase. Can this explain why galactose...
-
Figure out how to profitably consummate the unconsummated wealth-creating transaction created by rent control.
-
The output of a single-mode, well-stabilized laser is passed through a spatially distributed phase modulator (or a phase-only spatial light modulator that is changing with time). The field observed...
-
Franz Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Debits 1. Cost of real estate...
-
Consider the following Java code: interface I { long f1(); long f2(); } abstract class C implements I { public long f1() { return 5; } } class C2 extends C { public long f1() { return 99; } public...
-
Astromet is financed entirely by common stock and has a beta of 1.0. The firm pays no taxes. The stock has a price-earnings multiple of 10 and is priced to offer a 10% expected return. The company...
-
What is an accountable employee expense reimbursement plan? What is the significance of such a plan?
-
Are all taxpayers allowed a deduction for contributions to a conventional individual retirement account? Explain.
-
In Problems 9-14, assume that x = x(t) and y = y(t). Find the indicated rate, given the other information. y = x + 2; dx/dt = 3 when x = 5; find dy/dt
-
You buy a 7 percent semi-annual coupon, 20-year maturity bond today. The bond has a par value of $1,000. The YTM on the bond is 15 percent. What is the price of the bond? Is this a premium or a...
-
Consider the following information: Rate of Return if State Occurs State of Economy Boom Bust Probability of State of Economy .72 .28 Stock A .10 .29 Stock B .04 Stock C .40 .35 -.20 a. What is the...
-
Name three functions of Canvas. 2. Is there a function of Canvas that you did not know about but will use in this course? 3. Will you be using the mobile Canvas App? 4. What do you want to learn in...
-
1. Air (p = 1.23 kg/m; = 1.79105 Pas) flows through a 0.08-mm-diameter passageway in a person's lungs at a rate of 10-9 m/s. Is the flow laminar or turbulent? Ans. Laminar. 2. Ethyl alcohol (p = 1.53...
-
4-2 Index, Code, and Sort Records (Objs. 1-7) In this activity, you will practice using alphabetic indexing rules 5-8. 1. Index each name in the table. Code each name by writing each unit of the...
-
Write the balanced nuclear equation for each of the following nuclear decays. Show the mass and atomic numbers for each of the particles in the equation. (a) Beta decay of carbon-14 (b) Alpha decay...
-
What is a content filter? Where is it placed in the network to gain the best result for the organization?
-
Who is responsible for ensuring that the steering team completes its tasks?
-
Aretha and Betina own a 10-unit apartment complex. Aretha owns a 60% interest in the apartment complex, and Betina has a 40% interest. Aretha is an investment banker and spends 120 hours helping to...
-
Carlos is a 25% owner of CEBJ Builders, a company that specializes in residential construction. The other 75% of CEBJ is owned by his three brothers. During the year, Carlos spends 1,800 hours...
-
Mort is the sole owner of rental real estate that produces a net loss of $18,000 in 2010 and $20,000 in 2011 and income of $6,000 in 2012. His adjusted gross income, before considering the rental...
-
Explain and analyze how social entrepreneurship helps the development of a society. Justify your answer using theoretical approaches mentioned in the lesson, as well as real examples.
-
Discuss how the five forces model can be used to analyze the pharmaceutical industry and determine the best strategies for success.
-
How does a firm's external environment impact its strategic decision making process?
Study smarter with the SolutionInn App