Bill is 31 years old, married, and lived with his spouse michelle from january 2018 to september 2018. bill paid all the cost of keeping up his home. he indicated that he is not legally separated and he and michelle agreed they will not a file a joint return. bill has an 8-year-old son, daniel, who qualifies as bill's dependent. bill worked as a clerk and his wages are $20,000 for 2018. his income tax before credits is $500. in 2018, he took a computer class at the local university to improve his job skills. bill has a receipt showing he paid $1,200 for tuition. he paid for all his educational expenses and did not receive any assistance or reimbursement. bill does not have enough deductions to itemize. bill, michelle, and daniel are u. s. citizens with valid social security numbers. 8. bill does not qualify to claim which of the following: a. head of household b. education benefit c. earned income credit d. all of the above

Minneapolis federal reserve bank economist edward prescott estimates the elasticity of the u.s. labor supply to be 3. given this elasticity, what would be the impact of funding the social security program with tax increases on the number of hours worked and on the amount of taxes collected to fund social security?

Fanning company is considering the addition of a new product to its cosmetics line. the company has three distinctly different options: a skin cream, a bath oil, or a hair coloring gel. relevant information and budgeted annual income statements for each of the products follow. skin cream bath oil color gel budgeted sales in units (a) 110,000 190,000 70,000 expected sales price (b) $8 $4 $11 variable costs per unit (c) $2 $2 $7 income statements sales revenue (a × b) $880,000 $760,000 $770,000 variable costs (a × c) (220,000) (380,000) (490,000) contribution margin 660,000 380,000 280,000 fixed costs (432,000) (240,000) (76,000) net income $228,000 $140,000 $204,000 required: (a) determine the margin of safety as a percentage for each product. (b) prepare revised income statements for each product, assuming a 20 percent increase in the budgeted sales volume. (c) for each product, determine the percentage change in net income that results from the 20 percent increase in sales. (d) assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? (e) assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line?

Tom has brought $150,000 from his pension to a new job where his employer will match 401(k) contributions dollar for dollar. each year he contributes $3,000. after seven years, how much money would tom have in his 401(k)?