Stephanie and Matt Are Married with 2 Dependent Children

question 134

Essay

Stephanie and Matt are married with 2 dependent children.During 2013,they have total gross income of $140,000.Their allowable deductions for adjusted gross income total $6,000 and they have $6,000 of allowable itemized deductions.Compute Stephanie and Matt's 2013 taxable income and 2013 income tax liability.
a.Assume that in addition to the above information,Stephanie sold some land that she had held as an investment at a gain of $5,000.What is the effect of the gain on their taxable income and income tax liability? You do not need to recalculate,just explain the general effect of the sale of the land.
b.Assume the same facts as in part (a)and that Matt also sold some stock he purchased several years ago at a $12,000 loss.What is the effect of the gain on the land and the loss on the stock on their taxable income? Explain.

Recognize the contributions of nurses to political advocacy and health policy development.

Understand the role of nurses in public health initiatives and policy advocacy.

Analyze the effects of health care legislation and policy on health care delivery and practice.

Understand the role and impact of nursing associations and their political action committees (PACs) in shaping healthcare policy.

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Definitions:

Coefficient of Correlation

A statistic that measures the degree to which two variables are linearly related, with values ranging from -1 to 1.

Dependent Variable

The variable in an experiment that is expected to change in response to manipulations of the independent variable.

Independent Variable

A variable in research that is manipulated or categorized to observe its effect on a dependent variable.

First Quartile

The value below which 25% of the data falls.