Question: Question 1 2 Mr . And Mrs . Claus have two children. The ages of the children are 5 and 1 2 . All the

Question 12
Mr. And Mrs. Claus have two children. The ages of the children are 5 and 12. All the children are in good mental and physical health. During the current year, Mr. Claus has net employment income of $58000, after the deduction of employment expenses of $6,000. Mrs. Claus has net business income during this period of $80,000, after deducting business expenses of $15,000. The child care costs for the current year, all properly documented for tax purposes, are $27500. Determine the maximum deduction for child care costs that Mr. Claus should claim.
Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response.
Question 13
Mr. And Mrs. Claus have two children. The ages of the children are 5 and 8. All the children are in good mental and physical health. During the current year, Mr. Claus has net employment income of $56000, after the deduction of employment expenses of $6,000. Mrs. Claus has net business income during this period of $80,000, after deducting business expenses of $15,000. The child care costs for the current year, all properly documented for tax purposes, are $2800. Determine the maximum deduction for child care costs that Mr. Claus should claim.
Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response.
Question 14
On July 3,2019, at the request of her employer, Ms. Minnie Martin moves from Nova Scotia to Saskatchewan. She has always lived in a rented apartment and will continue to do so in Saskatchewan. The cost of the actual move, including the cost of moving her personal possessions, was $6600. In addition, she spent $10800 on a separate house hunting visit to Saskatchewan in a search for appropriate accommodation, and $1,000 as a penalty for breaking her lease in Nova Scotia. During the year, her salary totaled $50,000, of which $30000 can be allocated to the period after July 3,2019. What is her maximum moving expense deduction for 2019?
Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response.
Question 15
On November 3,2019, at the request of her employer, Ms. Minnie Martin moves from Nova Scotia to Saskatchewan. She has always lived in a rented apartment and will continue to do so in Saskatchewan. The cost of the actual move, including the cost of moving her personal possessions, was $7100. In addition, she spent $10600 on a separate house hunting visit to Saskatchewan in a search for appropriate accommodation, and $1,000 as a penalty for breaking her lease in Nova Scotia. During the year, her salary totaled $50,000, of which $2000 can be allocated to the period after November 3,2019. What is her maximum moving expense deduction for 2019?
Round to the nearest dollar. Do NOT write commas, dollar signs, or decimals in your response.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!