Determine Mr

question 85

Essay

Determine Mr.Smith's 2017 filing status in each of the following independent cases.
a.Mr.Smith and Mrs.Smith were legally divorced on December 1.Mr.Smith has not remarried and has no dependent children.
b.Mr.Smith and the first Mrs.Smith were legally divorced on February 10.Mr.Smith remarried the second Mrs.Smith on December 5.He has no dependent children.
c.Mrs.Smith dies on June 22.Mr.Smith has not remarried and has no dependent children.
d.Mrs.Smith died on November 1,2015.Mr.Smith has not remarried and maintains a home for one dependent child.
e.Mrs.Smith died on April 3,2016.Mr.Smith has not remarried and has no dependent children.
f.Mr.and Mrs.Smith were legally divorced on September 10,2014.Mr.Smith has not remarried and maintains a home for his two dependent children.

---

Definitions:

Asset Requirements

The minimum resources and assets needed for a business or investment to operate effectively and efficiently.

Financial Planning

The process of estimating the capital required and determining its competition, aiming to manage financial activities effectively for a person or organization.

Financial Plan

A comprehensive evaluation of an individual's current and future financial state by using current known variables to predict future income, asset values, and withdrawal plans.

Financial Plans

Strategic documents that outline an individual's or organization's current financial situation, goals, and strategies to achieve those goals.