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Jamil and Vicki Have One Child,age 3,for Which They Paid

question 167

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Jamil and Vicki have one child,age 3,for which they paid $2,500 in child care expenses this year.If they are eligible for the 20% dependent care credit plus the child tax credit,how much will these two credits reduce their tax liability?


Definitions:

E-contracts

Electronic forms of contracts that are created, signed, and maintained in digital format, often facilitated by the internet.

Legally Valid

Holding sufficient standing or force in law; capable of being legally or lawfully recognized or enforced.

Voidable

A situation or agreement that may be legally declared invalid or cancelable by one of the parties involved.

Unilateral Agreement

A unilateral agreement is a contract in which only one party makes a promise or undertakes a performance obligation, while the other party is not legally bound to reciprocate.

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