Overview:
The objective of this course is to successfully train a general understanding of tax laws related to the elderly or disabled.
Summary of Contents:
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Can You Take the Credit?
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Qualified Individual Income Limits
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Excess Adjusted Gross Income Filing Requirements
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Taxable and Nontaxable Income
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Adjustments to Income
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Deductions
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Estimated Tax
Sample Exam Questions:
1. Samantha is under 65, single, and disabled. Based on her filing status how much can she subtract from her adjusted gross income to figure her excess adjusted gross income?
a. $5,000
b. $7,500
c. $3,750
d. Because she is under age 65, she cannot subtract any amount.
2. Worker's Compensation is not taxable when:
a. It reduces social security benefits.
b. It is paid as wages when you return to light duty.
c. It is paid for a permanent loss, disfigurement, or death.
d. It is paid as a continuation of pay up to 45 days while the claim is being processed.
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