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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:

Informal Channels

Unofficial paths of communication that exist within an organization, allowing for information flow outside of formal protocols.

Legitimate Means

Actions or methods that are lawful, ethical, and acceptable within professional or societal standards.

Misinformation

False or inaccurate information that is spread, intentionally or unintentionally.

HR

Stands for Human Resources, focusing on the management and support of employees in an organization.

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