Adjusted Gross Income

Column A. This column is the monthly premium amount for the policy in which Jeff enrolled. Column B. This column is the monthly premium amount for the Second Lowest Cost Silver Plan (SLCSP) that the Marketplace has determined applies to members of Jeff’s family enrolled in the coverage. The premium for the applicable SLCSP is used to compute his monthly advance credit payments and the premium tax credit Jeff claims on his return. Note that in order to calculate his subsidy amount correctly,…

• Is federal income tax a direct or indirect tax? Explain your response. Federal income tax is a direct tax. This is because it is paid straight to the government. • What are the main differences between the flat, regressive, and progressive tax plans? Flat tax is a set or fixed rate. The tax percentage stays the same no matter the income or price of the product. In regressive the tax rate decreases as the price of the product increases. In this if you have less of an income you have a higher…

All Americans should not be entitled to healthcare because it could be harmful to our nation’s future. If everyone was entitled to healthcare, it will increase debt more than it already has, cause socialism, raise taxes, have doctor shortage, and over usage/ abuse of health care. If everyone was given the right to health care, it would increase debt. We are already in debt. Obamacare already caused us to go into debt, the increase of federal deficit could be a larger cost than Obama care…

The Chief Financial Officer David Dyck discovered $300-million in expenses were misclassified after he attempted a re-examination of the company’s accounting practices. CEO Dave Robert gained an “individual account” of 185%. When working out the full compensation, his total compensation roughly totalled $3.5 million for the year. After news of accounting irregularities, Penn West Petroleum Ltd. shares falling 17.4% before pulling back. Penn West shares closed at $8.57, down 13.78%, still some…

changes in the balance sheet (Matan & Hartnett, 2012). In the statement of cash flows, the three sections of the statement—investing activities, financing activities, and operating activities—presents the changes in the balance sheet accounts and income affecting the cash and cash equivalents (Matan & Hartnett, 2013). • Investing activities: the section addresses the amount of cash used to acquire assets to receive through sale or disposition of assets, such as purchases and sales of…

In December of 2015, FullCycle Energy named Sam Tabar as its chief operating officer, according to Private Equity Wire. Tabar is an attorney and financial strategist who has spent years managing the budgets of large institutions and corporations. Prior to signing on with FullCycle Energy, Tabar served as Merrill Lynch’s Bank of America head of capital financing. As head of Capital, Tabar worked would introduce hedge-fund managers to large groups of institutional investors that included…

Corporal will be depending on your role within the company. With this being said, Abraham lincoln signed a bill in which the percent taxed would keep increasing depending on the amount of income made. In 1872 the bill was repealed and declared unconstitutional. Now that you know a little bit of how our nation's first income tax came out to be let's get into detail of how that sets the base of how we do taxes now in present time. First off, many of y’all have at least asked yourself this…

The financial responsibility of a nonprofit governing board includes its ability to achieve the organization’s mission over time. How does the board and CEO/executive director address each of the following? • Oversight by state and federal regulators; • Identifying and managing financial risk; • Management of finances and fiduciary oversight; • Communicating financial transparency. The Board’s approach: • Oversight by state and federal regulators; When there is an evident oversight in the…

topic, we talk about two tools the budget and the financial statements. These protect our capital from any effect of our financial decisions, help us evaluate options, consequences and they identify potential threats. The budget is an estimate of the income and expenses that will be taken in the project. Helps evaluate projects and proposals with a purpose of finalizing this. The financial statement provides a picture of our current economy, which shows where funds have been used, and money…

The Commonwealth of Massachusetts has item H.3933 on the agenda, which is a constitutional amendment that is designed to increase the tax percentage on individuals residing in the state that have a yearly income of one million dollars and above. The tax proposal is heavily surrounded by the use of numbers as it would raise the current percentage four points from 5.15% to 9.15%. Currently in the state as of 2014, data has indicated that approximately 15,000 people resided in the state with annual…