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Table 1.2 Mini-Markets, Inc. Specializes in Providing Grocery and Convenience Products to Products

question 100

Multiple Choice

Table 1.2
Mini-Markets, Inc. specializes in providing grocery and convenience products to inner-city neighborhoods. They are highly committed to valuing cultural diversity. Their workforce consists of single parents, people who are ethnically diverse, and people who are undereducated. The following individuals exemplify their workforce. Jim is a single parent with two young, school-aged children. He lives about an hour from work and works the morning shift. Jane is just starting her working career, having been out of college only a year. She has just had a baby. Her husband also works full-time for Mini-Markets. They have been saving her salary and living on her husband's while waiting for the baby to be born. Wilma is 66 and wants to retire in a few years but isn't sure what she'll do with herself when she does. Plus, she'd like to have some extra time right now to spend with her grandchildren. Tim is a high school drop-out who struggled with drugs. Since Mini-Markets gave him a chance, he's really turning his life around. He's one of his store's most reliable and productive employees. Tim would like to move into management, but he needs a college degree. Married with a small child, he can't afford to go back to school.
-Refer to Table 1.2. Wilma could benefit most from which flextime program?

Definitions:

Deduction Limit

The maximum amount that can be subtracted from taxable income for certain expenses, beyond which deductions are no longer permitted or are reduced.

Tax Year

The 12-month period for which tax is calculated, often either the calendar year or a fiscal year established by a business.

Eligible Educational Institution

An accredited post-secondary institution that qualifies for federal student aid programs, where expenses might be eligible for tax deductions or credits.

Loan Interest Deductibility

The ability to subtract the cost of interest on certain loans from your gross income for tax purposes, potentially lowering your taxable income.