Robert and Mary File a Joint Tax Return for 2018 $\begin{array}{llcc} \text {Union Day Care Center } & \$1,700 \\ \text { Wilma, baby sitter (Robert's mother) } &\$1,000\\\end{array}$

question 40

Multiple Choice

Robert and Mary file a joint tax return for 2018 with adjusted gross income of $34,000.Robert and Mary earned income of $20,000 and $14,000, respectively, during 2018.In order for Mary to be gainfully employed, they pay the following child care expenses for their 4-year-old son, John: $\begin{array}{llcc} \text {Union Day Care Center } & \$1,700 \\ \text { Wilma, baby sitter (Robert's mother) } &\$1,000\\\end{array}$
What is the amount of the child and dependent care credit they should report on their tax return for 2018?

• A)$270
• B)$459
• C)$675
• D)$729
• E)None of the above

Comprehend the significance of "float" periods in credit transactions.

Evaluate the implications of skipping payments and the costs involved in filing for bankruptcy.

Analyze the effectiveness of federal laws in protecting consumer rights in credit and lending.

Understand the types and purposes of different credit insurance policies.

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Definitions:

First Law

Typically refers to a primary or foundational principle within scientific disciplines, such as Newton's First Law of Motion in physics, though the term needs specific context to define accurately.

Gift Exchange

A strong tradition in many cultures, in which giving gifts creates a future obligation to the receiver; it can also be a rite of passage into an inner circle.

Sense Of Obligation

A feeling of duty or responsibility that motivates individuals to act in certain ways, often driven by moral, societal, or personal standards.

Social Problems

Issues that adversely affect the well-being of a significant number of people in a society, and that are often the subject of public debate and policy efforts.