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Sam and Megan Are Married with Two Dependent Children

question 15

Essay

Sam and Megan are married with two dependent children.Both Sam and Megan work,earning $50,000 and $55,000,respectively.Their AGI totals $110,000.They incur $6,500 of qualifying child care expenses of which $2,500 is reimbursed by Megan's dependent care program at work.
What is the amount of their child and dependent care credit?


Definitions:

Massive Industrialization

The rapid and extensive growth and development of industry and manufacturing capabilities within a region or country.

Worker's Productivity

A measure of the efficiency of a worker, calculated by the output produced over a defined period of time relative to the input used.

Virtuality Of Work

The concept refers to the practice of performing work digitally, often remotely, leveraging technology to accomplish tasks outside of a traditional office environment.

Information Technology

The use of computers and software to manage information, including the storage, retrieval, transmission, and manipulation of data.

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