Questions from Personal Finance


Q: Your childhood friend, Brad Brooks, has asked you to help

Your childhood friend, Brad Brooks, has asked you to help him gain control of his personal finances. Single and 30 years old, Brad is employed as a salesperson for a technology company. His annual sal...

See Answer

Q: Your childhood friend, Brad Brooks, has asked you to help

Your childhood friend, Brad Brooks, has asked you to help him gain control of his personal finances. Single and 30 years old, Brad is employed as a salesperson for a technology company. His annual sal...

See Answer

Q: How is adjusted gross income determined?

How is adjusted gross income determined?

See Answer

Q: Sandy and Phil have recently married and are both in their early

Sandy and Phil have recently married and are both in their early 20s. In establishing their financial goals, they determine that their three long-term goals are to purchase a home, to provide their ch...

See Answer

Q: Mia has $3,000 in assets, a finance company

Mia has $3,000 in assets, a finance company loan for $500, and an outstanding credit card balance of $135. Mia’s monthly cash inflows are $2,000, and she has monthly expenses of $1,650. What is Mia’s...

See Answer

Q: What are itemized deductions? How do itemized deductions relate to standard

What are itemized deductions? How do itemized deductions relate to standard deductions? Provide some examples of itemized deductions.

See Answer

Q: What is an exemption? How many exemptions may a taxpayer claim

What is an exemption? How many exemptions may a taxpayer claim?

See Answer

Q: List some of the primary features of the American Taxpayers Relief Act

List some of the primary features of the American Taxpayers Relief Act of 2012.

See Answer

Q: What is a Coverdell Savings Account? List some expenses that can

What is a Coverdell Savings Account? List some expenses that can be paid with Coverdell funds.

See Answer

Q: What is a Section 529 College Savings Plan? What are the

What is a Section 529 College Savings Plan? What are the income limits for parents who desire to take advantage of this plan?

See Answer