Identify and Briefly Define Each of the Three Stages of the Perception-Making

question 39

Essay

Identify and briefly define each of the three stages of the perception-making process.

---

Definitions:

Maximum Amount of Expenses

The highest allowable sum that can be counted as an expense for tax or budgetary purposes.

Joint Returns

A combined tax return filed by legally married couples who choose to report their incomes, exemptions, and deductions on the same tax return.

American Opportunity Tax Credit

A financial credit for approved higher education expenses incurred for an eligible learner within the first four years of their tertiary education.

Lifetime Learning Credit

A tax credit that helps defray the cost of post-secondary education by reducing the amount of tax owed on a return, dollar for dollar.