Bill Cummings is divorced and has custody of his two daughte…
Bill Cummings is divorced and has custody of his two daughters, ages 4 and 8. This year, Bill has spent $5,000 on the 4-year-old’s preschool, $2,000 for after-school care for the 8-year-old, $500 for two days and nights at summer camp for the 8-year-old, and $1,000 for a sitter to pick up the children and care for them for one to two hours in the evening until he gets home from work. What is the total dollar amount of qualified dependent care expenses that Bill has incurred?
Read DetailsAs Joe Burton’s financial advisor, you’ve encouraged Joe to…
As Joe Burton’s financial advisor, you’ve encouraged Joe to see a lawyer to finalize his will and to resolve a legal dispute that has arisen over an easement on a lot that Joe owns. Joe tells you that he has a legal services plan at work that provides up to $1,000 in legal service fees per year. Because Joe is friends with the company accountant, he knows that his employer has a “pay-as-you-go” plan. Joe asks you about the tax consequences of using the legal services plan. You tell Joe
Read DetailsAs the employee benefit specialist for Alpha Corp., you are…
As the employee benefit specialist for Alpha Corp., you are explaining COBRA benefits to a group of pre-retirees, between 55 and 64 years of age. Which of the following do you not list for the group as a qualifying event for COBRA?
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