Seneca would like to start building a college education fund for her 5-year old daughter.
In 2016, Seneca contributes $80,000 to the designated carrier of her state's 529 plan.
Assuming Seneca makes the five-year election, what is the amount of her taxable gift?
Answers
amount of Seneca's taxable gift is $2,000.
To calculate the amount of her taxable gift, we need to consider her contribution to the 529 plan and the five-year election. Here's a step-by-step explanation:
1. Seneca contributes $80,000 to the 529 plan in 2016.
2. She chooses to make the five-year election, which allows her to spread the contribution over five years for gift tax purposes.
3. With the five-year election, Seneca's contribution will be divided by 5: $80,000 / 5 = $16,000 per year.
4. For 2016, the annual gift tax exclusion is $14,000 per recipient.
5. Since Seneca's yearly contribution ($16,000) exceeds the annual gift tax exclusion ($14,000), she has made a taxable gift.
6. To determine the amount of her taxable gift, subtract the annual gift tax exclusion from her yearly contribution: $16,000 - $14,000 = $2,000.
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Related Questions
by the year 2025, approximately what percentage of gross domestic product (gdp) will the united states be spending on health care?
Answers
By the year 2025, it is estimated that the United States will be spending approximately 19.4% of its GDP on healthcare. This projection is subject to change as economic and healthcare conditions evolve.
By the year 2025, approximately 19.4% of gross domestic product (GDP) will the United States be spending on health care.What is GDP?GDP stands for Gross Domestic Product. It is an economic indicator used to measure the total value of goods and services produced by a country in a specific time period, usually a year. The United States is one of the world's largest economies, and its GDP is often used as a benchmark for the health of the global economy.What is healthcare?Healthcare is an industry that provides medical care and treatment to people. The healthcare industry is responsible for diagnosing, treating, and preventing illnesses and diseases. It includes medical professionals, hospitals, clinics, and other healthcare facilities. Healthcare is an essential component of a nation's economy and has a significant impact on GDP.By the year 2025, approximately 19.4% of gross domestic product (GDP) will the United States be spending on health care. This estimate is based on projections from the Centers for Medicare & Medicaid Services (CMS). The CMS is a government agency responsible for overseeing the nation's healthcare programs, including Medicare and Medicaid. The increase in healthcare spending is due to several factors, including an aging population, rising healthcare costs, and advances in medical technology.
By the year 2025, it is estimated that the United States will be spending approximately 19.4% of its GDP on healthcare. This projection is subject to change as economic and healthcare conditions evolve.
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A car has a base price of $23,800.00. Options cost $356.00, $785.00, and $900.00 for stereo, wheels and paint. Destination charges are $640.00. The dealer pays 82% of the base price and 75% of the options. Determine the sticker price.
$25,000.00
$23,800.00
$26,481.00
$25,841.00
Answers
The sticker price of the car is $26,481.00 based on the component costs provided
What is the sticker price of the car?
The sticker price of the car comprises the retail price, the cost of options as well as the destination charges, which is also referred to as the cost for economy mileage, bearing in mind that sticker price is the price of car written on a sticker and affixed to a car.
The sticker price=base price+cost of stereo+cost of wheels+cost of paint+destination charges
base price= $23,800.00
cost of stereo=$356.00
cost of wheels=$785.00
cost of paint=$900.00
destination charges=$640
sticker price=$23,800.00+$356.0+$785.00+$900+$640.00
sticker price=$ 26,481.00
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who will win the fight tomorrow jake paul or ben askren
winner gets brainlest
Answers
Answer:
prolly ben askren
Explanation:
cause he was an ameture wrestler before
Answer: Ben askren bro
Explanation:
when does business unit planning occur in the strategic planning process? group of answer choices after corporate planning and product planning after offering planning but before product planning before corporate planning after offering planning after corporate planning but before offering planning
Answers
Business unit planning typically occurs after corporate planning and product planning but before offering planning in the strategic planning process.
What is Business?Business is an activity that involves the production, buying, and selling of goods and services. It involves individuals, organizations, and companies working together to create economic growth and development. Business activities are conducted in order to generate profits and satisfy customer needs. Businesses can involve a variety of activities such as accounting, finance, marketing, operations, production, and human resources. Businesses must also consider their legal, ethical, and social responsibilities when engaging in their activities.
This allows the business to identify the potential opportunities and resources available to the business unit, as well as analyze the risks associated with pursuing those opportunities. This process also helps the business unit identify the strategies and objectives necessary to achieve its desired outcomes.
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Energy Efficient Jobs
Manufacturers who meet the ENERGY STAR standards get to use the ENERGY STAR logo on their products and advertising. Consumers, however, do not get the guarantee their products meet those standards.
True or False?
Answers
The statement is false because consumers do receive a guarantee that products displaying the energy star logo meet the energy star standards.
The energy star program was specifically created to help consumers identify energy-efficient products that meet the program's rigorous criteria.
Manufacturers who meet the energy star standards are granted permission to use the energy star logo on their products and advertising. This logo serves as a reliable indicator for consumers that the product has undergone testing and meets the energy efficiency requirements set by the energy star program.
The energy star program aims to provide consumers with confidence in their purchasing decisions by promoting energy-efficient products that can help reduce energy consumption and save money on utility bills.
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Derick wants to purchase an existing business in the service industry. However, he does not want to use the traditional sources of information that entrepreneurs generally use to make the purchase. Which of these statements refers to an alternative source that Derick can use to locate businesses up for sale?
A.
He could hire the services of a business brokerage company.
B.
He could refer to websites that provide such details.
C.
He could contact businesses through details provided in trade magazines.
D.
He could ask his accountants and lawyers if any of their other clients want to sell their businesses.
E.
He could refer to “business for sale” advertisements listed in the classified sections of newspapers.
Answers
Answer:
The answer is D
Explanation:
I got it right on my quiz. :)
allocating factory overhead based on the level of major activities
Answers
Allocating factory overhead based on the level of major activities helps to distribute indirect costs more accurately and provides a better reflection of resource usage.
Factory overhead costs are indirect costs incurred in the manufacturing process that cannot be easily traced to specific products or units. These costs include expenses such as utilities, maintenance, supervision, and depreciation. Allocating these costs based on the level of major activities, such as machine hours or direct labor hours, allows for a more accurate distribution of overhead expenses.
By using the level of major activities as a basis for allocation, companies can link the allocation of factory overhead to the resources consumed by each activity. For example, if machine hours are used as the allocation base, products that require more machine usage will be assigned a higher share of the factory overhead costs. This method ensures that products or activities that utilize more resources bear a greater portion of the overhead burden.
Allocating factory overhead based on major activities also helps in cost control and decision-making. It provides a clearer picture of the cost drivers in the manufacturing process, allowing management to identify areas of inefficiency or excessive resource usage. By understanding the relationship between activity levels and overhead costs, companies can make informed decisions to optimize resource allocation, improve productivity, and reduce costs.
Additionally, allocating factory overhead based on major activities aligns with the principle of cause and effect, as it links the allocation of costs to the activities that drive those costs. This enhances the accuracy and reliability of product costing, which is crucial for pricing decisions, profitability analysis, and financial reporting.
In conclusion, allocating factory overhead based on the level of major activities offers a more accurate and meaningful distribution of indirect costs. It ensures that resources are allocated in proportion to their utilization, enhances cost control and decision-making, and improves the accuracy of product costing. By adopting this approach, companies can achieve better cost management and make informed business decisions.
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a uniformed member is tdy to a u.s. installation, will be staying in government quarters, and has all three meals available in a government dining facility. which meal rate will apply to the traveler?
Answers
A substantial one of these will keep you from going upside down on your loan, that is, owing more on your car than it is
worth:
A) finance charges
B) insurance
C) down payment
D) interest
Answers
B- is not the clown
Answer: C) Down Payment
Explanation: You should put more money down. You no longer need a 20% down payment to buy a home, but a down payment that’s too small can harm your equity.
Knowledge Matters ;0
Which two sentences use words that have a positive connotation?
1. The determined CEO increased the profits this quarter.
2. The bossy manager pushed his team to meet the deadline.
3. The self-confident team leader made a good impression.
4. The company’s cheap measures saved the investors millions.
5. The arrogant executive was immediately hired
Answers
The two sentences which use words that have a positive connotation are Options 1 and 3.
What exactly does a favorable connotation imply?A positive connotation is a favorable or positive association with a specific word. In this context, the meaning makes the word appear cheerful or affirmative.
The opposite is true with a negative connotation. Connotation is a technique used by writers to produce emotional associations that might be good, negative, or neutral.
The word has a positive connotation. Words that elicit a positive emotional reaction. Using terms like "go-getter" and "youthful" to describe someone who is ambitious or vivacious and curious.
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Genes can be turned on or turned off; not all genes are active at one time.
O False
O True
Answers
Answer:
False
Explanation:
explanation
One to two sentences, explain what happens to a production possibilities curve if a natural disaster creates a scarcity of a key resource needed to make a product. Explain why this happens.
Answers
A natural disaster causing a scarcity of a key resource necessary for production will result in a shift inward or to the left of the production possibilities curve.
This occurs because the reduced availability of the key resource limits the economy's ability to produce the affected product, leading to a decrease in overall production capacity.
As a result, the economy's production possibilities are constrained, and it is forced to operate at a suboptimal level.
The scarcity of the key resource disrupts the balance between the production of different goods, leading to a decrease in potential output.
The economy will need to allocate its limited resources and adjust its production mix accordingly, potentially focusing on alternative products or finding substitutes for the scarce resource in order to maximize production under the new constraints imposed by natural disaster-induced scarcity.
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Which describes the qualifications for someone in Law Enforcement Services?
O Communication skills for interviewing citizens, and confidence in challenging criminal behaviour.
O Knowledge of medical procedures, and emergency room codes.
O Knowledge of architectural concepts and bulidng plans.
O High awareness of ocean practices for in water rescue
Answers
Answer: Communication skills for interviewing citizens, and confidence in challenging criminal behaviour.
Explanation:
A person working in law enforcement needs to be able to convince citizens that they are working in their best interest. They need to know how to communicate effectively with people so as to get information from them and build trust.
They should also be brave enough to confront crime when needed because their main purpose is to keep people safe.
Answer:
A
Explanation:
Cuz god. And i meant to not capitalize the G.
According to the video, which tasks do Urban and Regional Planners perform? Check all that apply.
developing recommendations to improve medical care
o promoting the best use of land and resources
developing plans for growth and renewal
promoting campaigns for political elections
reviewing applications for government assistance
Answers
Answer:
Got it right on Edge!
Explanation:
Promoting the best use of land and resources and developing plans for growth and renewal are the tasks performed by Urban and Regional Planners.
Who are Urban and Regional Planners?Among other areas of interest, urban and regional planners may choose to specialise in topics like transportation planning, community development, historic preservation, or urban design. Public servants, civil and environmental engineers, architects, attorneys, and real estate developers are all common collaborators with planners.
Urban and regional planners design land use plans and policies that support the development of communities, population growth, and the renewal of physical infrastructure.
Therefore, the tasks that Urban and Regional Planners perform are promoting the best use of land and resources developing plans for growth and renewal.
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Using information from knowing why outsourcing is the best, why does it appear that Apple outsources to China?
Answers
Apple outsources to China because it offers lower manufacturing costs and access to a large pool of skilled labor. China has a strong manufacturing infrastructure, with many factories and suppliers that can produce high-quality components at a lower cost than in many other countries. Additionally, China has a large and highly skilled workforce, which is capable of producing large volumes of products with high levels of precision and quality. By outsourcing to China, Apple is able to take advantage of these benefits, while also benefiting from the country's strong intellectual property protection laws, which help to safeguard Apple's proprietary technology and designs. Overall, outsourcing to China allows Apple to reduce manufacturing costs, increase production efficiency, and maintain high levels of quality, which can help to improve its competitiveness in the global market.
Stocks are generally considered a higher risk because:
a) Their value varies over time
b) They are not covered by FDIC
c) Rate of returns are not guaranteed
d) All the above
Answers
whats the meaning of oligopoly and monopoly market structure
Answers
Answer:
Oligopoly is a market structure with a small number of firms, none of which can keep the others from having significant influence, whereas monopoly is one firm, a duopoly is two firms and an oligopoly is two or more firms.
Explanation:
got it from class with help from investopida
Find out stock value of the company with following dividend plans: $ 3, $ 4, $ 5, $6 , $7 for the first five years, then a final liquidating dividend of $60 at year 6. Assume discount rate for this stock is 15%. Find out the current stock value .
Answers
The current stock price will be $41.77
The current stock value will be the present value of all the dividends over the five years in question and then the present value of the liquidating dividend in the 6th year.
Present value = Dividend / ( 1 + rate) ^ year it was paid
Present value of all the dividends = ( 3 / (1 + 15%)) + (4 / (1 + 15%)²) + (5 / (1 + 15%)³) + (6 / ( 1 + 15%)⁴) + (7 / ( 1 + 15%)⁵) + ( 60 / ( 1 + 15%)⁶)
= $41.77
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For a closed-end lease, if you return the car and it is worth less than estimated, you pay the difference. true false
Answers
False. For a closed-end lease, also known as a "walk-away lease," the lessee returns the vehicle at the end of the lease term, pays any end-of-lease fees and charges for excess wear and tear, and owes nothing more.
The residual value of the vehicle, which is the estimated value of the car at the end of the lease term, is predetermined and agreed upon in the lease contract. If the actual value of the car is lower than the residual value, it is the leasing company's responsibility to bear the loss, not the lessee's. Therefore, the lessee does not pay the difference if the car is worth less than estimated.
In contrast, for an open-end lease, the lessee is responsible for the difference between the residual value and the actual value of the car when the lease ends, which is known as the "residual value shortfall." However, open-end leases are typically used for commercial purposes and are less common than closed-end leases used by consumers.
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Alison’s company has asked her to create a presentation to her colleagues about the new electronic calendar they will be using. What three features should Alison highlight when she introduces this tool that can help increase productivity? (3+ sentences)
Answers
Remove the personal dialogue and formalize the statement.
Which of the following describes how the writing process is divided into three stages?Three stages can be identified in the writing process: there are three stages to writing: planning, drafting, and editing and proofreading at the end.
Which of the following is the finest illustration of bias-free writing?Avoiding terms or phrases that unfairly and even unethically label or stigmatize people based on their gender, race, ethnicity, age, handicap, or other personal traits is a key component of bias-free language.
Which of the following statements most accurately sums up the value of creating an outline?An outline helps writers keep track of the organization of their thoughts and subject.
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The journal entry a company uses to record accrued vacation privileges for its employees at the end of the year is:.
Answers
The record of accrued vacation privileges in Journal entry will includes a Debit of Cash& Interest Expense and Credit of Notes Payable
What is a Journal entry?The Journal entry helps to record all basic financial transaction.
In conclusion, the record of accrued vacation privileges in Journal entry will includes a Debit of Cash& Interest Expense and Credit of Notes Payable
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MM Proposition I, without taxes, assumes that
A. debt is riskless.
B. individuals and corporations can borrow at the same rate.
C. firms can borrow at the risk-free rate.
D. all firms will prefer an u
Answers
Modigliani-Miller Proposition I (MM Proposition I), under the assumption of no taxes, states that in a perfect and frictionless capital market, the capital structure decisions of a firm do not impact its overall value.
According to this proposition, all firms, regardless of their debt-to-equity ratios, have the same cost of capital. This means that the riskiness of debt does not matter, individuals and corporations can borrow at the same rate, and firms can borrow at the risk-free rate.
The value of a firm is determined solely by its underlying assets and the expected earnings from those assets, irrespective of how the firm is financed. Therefore, MM Proposition I implies that in a world without taxes, capital structure decisions are irrelevant to the valuation of a firm.
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How can a person become a dentist
Answers
Explanation:
It generally takes eight years to become a dentist: four years to earn a bachelor's degree as an undergraduate and four years to earn a DDS or DMD in dental school. If you're interested in specializing, you'll also need to complete a dental residency (more on that below).
brainliest please
What is market information?
Answers
Answer:
Market Information means an electronic document (also available in paper form upon request) located on the Trading Platform which sets out the commercial details for each Market, including but not limited to: Margin Factors, the minimum and maximum Quantity and Our Spread.
Explanation:
brainliest plz
Answer:
The results of marketing research that are used to plan for future marketing or product development activities. The information may come from a single source or through a system of collection.
Explanation:
on edge 2022
What did Roosevelt believe that Taft's focus on breaking up trusts would do?
Answers
Taft's emphasis on dismantling trusts, in Roosevelt's opinion, would destroy the system of collaboration and regulation he had set up.
The system of cooperation and regulation that Roosevelt had established with large business, in Roosevelt's opinion, was being destroyed by Taft's focus on dismantling trusts. Roosevelt thought Taft's emphasis on dissolving trusts was misguided.
In fact, Taft filed more antitrust lawsuits during his four years in office than Roosevelt had in his seven and a half. Compared to Roosevelt, Taft was less in favour of having the executive branch of the federal government oversee trust activities.
Theodore Roosevelt cultivated a reputation as a person who broke trust. Political pressure forced him to take action against the trusts. In actuality, TR did not destroy trust. Roosevelt consistently maintained that there was a power greater than that of even the biggest, wealthiest business organization.
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An automobile giant headquartered in the United States sells high-end bikes across the world. It wants to enter an emerging market. Customers in the market cannot afford the types of accessories used in the bikes. Thus the regional branch of the organization makes an autonomous decision to remove the accessories and to offer a toned-down version of the bikes to compete in the emerging market. This decision is accepted by the headquarters on the principle that the man on the ground is the best judge of local conditions. The above serves as an example of a(n) ___________.
Answers
Answer:
decentralized organizational structure
Explanation:
A decentralized organizational structure is one where details of daily operations and associated decision making is delegated to middle and low level managers.
Thereby allowing the top management more time for major decisions that affects the company.
In the given scenario the regional branch of the organization makes an autonomous decision to remove the accessories and to offer a toned-down version of the bikes to compete in the emerging market. The decision is accepted by the headquarters on the principle that the man on the ground is the best judge of local conditions.
This is a decentralized organizational structure
Conider the market for grain in a Wet African nation. Suppoe the United Nation initiate a program to ditribute free grain to houehold in that Wet African nation. The immediate effect of the UN grain ditribution program on houehold and farmer in the Wet African nation would be to
Answers
Distributing the free grains to households in wet African regions by the united nations, it would drive the price up.
What are the objectives of the United Nations?The United States is an international organization made up of 51 states that were founded with the goals of promoting social progress, a greater standard of living, and human rights in addition to preserving world security and peace.
Which three nations don't belong to the UN?Taiwan, Kosovo, and Vatican City are the only three nations in the world that are unable to join the UN. The UN views Taiwan and Serbia as being a component of China and Serbian, respectively, rather than as sovereign states.
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when a customer returns Goods the seller will prepare a
Answers
Answer:
Purchase return.
Explanation:
A purchase return is a book usually prepared by the seller to record items such as fixed assets , inventories returned by the buyer. It is important that sellers take note of purchase returns as they could cut down the profit of business.
Goods or inventories may be returned by buyers due to buying defect products, goods ordered by the buyer are higher than what is required hence returns the excess, wrong supply of goods by the seller etc.
A seller may however charge a fee if the goods returned is due to the buyer's fault or the seller gives allowance to the buyer if the fault is his.
Which of the following statements best defines rule-based query optimization algorithm? a. Rule-based query optimization algorithm is a database optimization technique that uses rules and points to determine the best approach to execute a query. b. Rule-based query optimization algorithm is a query optimization technique that uses preset rules and points to determine the best approach to execute a query. c. Rule-based query optimization algorithm is a database optimization technique that uses preset rules and points to determine the best approach to retrieve data. d. Rule-based query optimization algorithm is a query optimization technique that uses storage rules to determine the best approach to retrieve data.
Answers
Rule-based query optimization algorithm is a query optimization technique that uses preset rules and points to determine the best approach to execute a query is best defines rule-based query optimization algorithm. Thus, option (b) is correct.
What is an optimization algorithm?The term optimization algorithm refers to the process of comparing several solutions to determine which is the best or most agreeable. Computer-aided design efforts now include optimization.
The rule-based query optimization algorithm is the strategy that presents the rules and points to identify the optimum approach to executing a query optimization algorithm.
As a result, the optimization algorithm is a query optimization technique that uses preset rules. Therefore, option (b) is correct.
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After a housing bust that reduces exogenous investment,Keynesian countercyclical policy is A. Raise government spending B.Raise taxes C.Reduce government spending D.Both B and C E.None of the above
Answers
After a housing bust that reduces exogenous investment, Keynesian countercyclical policy would involve raising government spending so that the correct answer is option (A).
Keynesian economics focuses on stimulating demand to mitigate the negative effects of economic downturns. In the context of a housing bust that reduces exogenous investment, this would entail an increase in government spending to boost aggregate demand and stabilize the economy. By implementing expansionary fiscal policies, such as increased infrastructure projects or direct financial support to households, the government can help counter the negative effects of the housing bust and support economic recovery.
Raising taxes (Option B) or reducing government spending (Option C) would be contractionary fiscal policies, which are not appropriate during an economic downturn as they would reduce demand and further exacerbate the situation. Therefore, Options B, C, and D are not correct. In conclusion, the appropriate Keynesian countercyclical policy in this situation is to raise government spending (Option A).
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