Wolfgang, who is age 33, records AGI of $125,000. He incurs the following itemized deductions for 2015.

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Wolfgang, who is age 33, records AGI of $125,000. He incurs the following itemized deductions for 2015.
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/>Medical expenses [$15,000 − (10% × $125,000)]                  $ 2,500
State income taxes                                                                  4,200
Charitable contributions                                                           5,000
Home mortgage interest on his personal residence                     6,000
Casualty loss (after $100 and 10% reductions)                          1,800
Miscellaneous itemized deductions [$3,500 − 2%($125,000)]     1,000
$20,500

a. Calculate Wolfgang’s itemized deductions for AMT purposes.
b. What is the total amount of his AMT adjustments from these items?

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Could you please research and explain if a change in the distribution method (inventory methods) have an impact in the stock price of a company?

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Could you please research and explain if a change in the distribution method (inventory methods) have an impact in

the stock price of a company?

 
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Could you please research and explain the most common changes in estimates in accounting and their impact on the financial statements?

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Could you please research and explain the most common changes in estimates in accounting and their impact on the

financial statements?

 
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Tom, unmarried, pays Heloise (a housekeeper) $6,100 to care for his physically incapacitated mother

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Tom, unmarried, pays Heloise (a housekeeper) $6,100 to care for his physically incapacitated mother so that he can

be gainfully employed. He has earned income of $38,000, adjusted gross income of $40,000, and claims his mother as a dependent. Tom’s mother has lived with him for the entire year. Tom may claim a credit for child and dependent care expenses of _____.

 
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