Matteo just left the army after 20 years of service. during his service, he managed to save a little money and is now entitled to a government pension. his wants to go back to his home state of arizona and start manufacturing small, solar-powered panels for residential use. although he knows he needs a storefront and an industrial site, he is not 100 percent convinced about where to locate. however, he does know for certain that one of his top priorities is to limit his tax liability associated with this new business. what would you suggest for matteo?

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.