3. Alfredo’s employer, Alfa Romeo USA, Inc., was affected by…

3. Alfredo’s employer, Alfa Romeo USA, Inc., was affected by a serious downturn in the economy and could not meet all of its employee payroll obligations in cash. The company decided to pay Alfredo by transferring a new car to him, but only if Alfredo agreed to the arrangement and first paid the company $10,000. He did so, and the company transferred to Alfredo clear title to a new 2020 4C Spider. The Spider’s FMV on the day they transferred the car to Alfredo was $68,400.  Based on these facts, how much gross income must Alfredo report?

A patient tells a medical assistant that the provider said t…

A patient tells a medical assistant that the provider said to take the prescribed antibiotic four times per day because of the medication’s half-life. The patient want to know what “half-life” means. Which of the following responses should the medical assistant make?