Show:
Employee Business Exp
Child Tx Credit/ACTC
Self Employment Tax
Earned Income Credit
First Time Home Buyer Credit
100
Per IRC 162, the two requirements for deductibility of EBE.
What is ordinary and necessary.
100
Where you go when you cannot determine the correct credit from the worksheets in the F1040/1040A instructions.
What is Pub 972
100
Net earnings from Self Employment of 400.00 or more.
What is the requirement for filing a schedule SE to report SE tax.
100
The three tests for a qualifying child.
What is age, relationship and residency.
100
This form is used to claim FTHBC.
What is Form 5405
200
The percentage of AGI that most EBE must exceed.
What is 2%
200
Must be under age 17, did not provide > 1/2 of his/her own support and lived with TP > 1/2 year.
What is qualifying child for CTC.
200
15.3 %
What is the Self Employment tax rate.
200
Must be at least 25 years old and not the qualifying child of another.
What are the rules for claiming EIC without a qualifying child.
200
Code Section covering FTHBC
What is IRC 36
300
In 2008, this percentage of meals is allowed for certain Dept of Trans (DOT) workers.
What is 80%
300
Used to compute ACTC.
What is Form 8812
300
Schedules C, E and F
What are the forms that self employment income is reportable on.
300
Must be completed if claiming a child for EIC.
Schedule EIC.
300
The percentage of the purchase used for FTHBC
What is 10%
400
Gambling losses can be claimed up to what amount.
What is gambling income reported.
400
A type of credit that is limited to tax liability.
What is a non refundable credit.
400
The occupation that can exempt itself from self employment tax.
What are ministers.
400
The filing status that does not qualify for EIC.
What is MFS.
400
The number of years prior to purchase that you cannot have owned a principal residence.
What is 3
500
Reimbursement arrangement from an employer meeting certain reporting rules are called this.
What is an accountable plan
500
The maximum credit per qualifying child.
What is 1,000.00.
500
2.9%
What is the portion of SE tax that goes toward Medicare.
500
Amount of earned income, filing status and number of qualifying children.
What are the variables for determining the amount of EIC (on the EIC tables).
500
The recapture period for purchases made in 2009
What is 36 months