Your friend, Alice is a full time college student, earned $4,000 working at the campus bookstore over two semesters last calendar year, and also got a part-time job as a cashier in February, earning $9,500. Alice knows that you have been learning about taxes in your personal finance lessons and asks you, "Do I need to file taxes this year? If I do, what is the process like?"

Select the correct answer the smith family adopted a child. the adoption procedure took about three months, and the family incurred various expenses. will the smiths receive and financial benefit for the taxable year? a) they will not receive any financial benefit for adopting the child b) their income tax component will decrease c) they will receive childcare grants d) they will receive a tax credit for the cost borne for adopting the child e) they will receive several tax deductions