Janie graduates from high school in 2019 and enrolls in college in the fall. Her parents (who file a joint return) pay $4,000 for her tuition and fees. a. Assuming Janie's parents have AGI of $170,000, what is the American Opportunity tax credit they can claim for Janie?

Peppy knows a lot about marketing, but not much about the legal or financial aspects of starting a new business. he wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting peppy's pizzazzeria up and running. peppy should: trust his basic instincts and try to put it together without the advice of lawyers and accountants. delay talking with a lawyer and accountant until the business has established a positive cash flow for at least one year. immediately hire full-time lawyers and accountants for his staff. consult with a lawyer and accountant even though the budget is tight.