6. Which of the following factors, if any, is not a characteristic of independent contractor status?
a. Work-related expenses are reported on Schedule A (Form 1040).
b. Receipt of a Form 1099 reporting payments received.
c. Workplace fringe benefits are not available.
d. Services are performed for more than one party.
e. None of these is correct.
7. Which of the following would constitute an employer-employee relationship?
a. A plumber who comes to your home to fix a leaking faucet.
b. A CPA who prepares a client’s tax return.
c. A physician who hires a nurse to help her with patient screening and preliminary tests in the office.
d. A gardener who takes care of individual lawns for a monthly fee.
e. None of these would constitute an employer-employee relationship.
8. The exclusion for health insurance premiums paid by an employer applies to:
a. Only current employees and their spouses.
b. Only current employees and their spouses and dependents.
c. Only current employees and their disabled spouses.
d. Current employees, retired former employees, and their spouses and dependents.
e. None of these.
6. d- Services are performed for more than one party.
7. e- None of these would constitute an employer-employee relationship.
8. a- Only current employees and their spouses.
6. Which of the following factors, if any, is not a characteristic of independent contractor status?...
Which of the following is/are requirements for a married couple to exclude $500,000 of gain from the sale of their residence? Only one spouse must meet the ownership requirement of two out of five years preceding the sale. Both spouses must have used the home as their principal residence in two out of five of the previous years prior to the sale date. Both spouses must have been legally married for two out of the five years immediately preceding the...
include procedure
_16. Jafet has two employees who eamed the following amounts during 2018 Sem $17,000 Mesec 5.000 If Jafet timely pays 5.4% for state unemployment tax, what is the amount of his 2018FUTA after the state Credit: A. B C SO $72 $132 $1.188 None of the above. The answer is E 17. Lazarus has a domestic employee who earned $4,000 during 2018. If Lazarus timely pays 5.4 percent for state unemployment tax, what is the amount of his...
Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first summer job. Even though his parents are claiming him as a dependent he wants to file a return in order to get his refund. He receives his W-2 and decides he can do his own return using form 1040-EZ. Which of the following information is not found on a Form W-2? a) The taxpayer’s Social Security number b) The taxpayer’s wages, tips and other...
Beverly and Ken Hair have been married for 3 years. Beverly
works as an accountant at Cypress Corporation. Ken is a full-time
student at Southwest Missouri State University (SMSU) and also
works part-time during the summer at Cypress Corp. Ken's birthdate
is January 12, 1993 and Beverly's birthdate is November 4, 1995.
Beverly and Ken each received a W-2 form from Cypress Corporation
(see separate tab). The Hairs have interest income of $1,000 on
City of St. Louis bonds. Beverly...
23. What is the total net amount of capital gain reported on
Form 1040? OA. $308 OB. $2,411 C. $2,719 OD. $2,900
Advanced Scenario 7: Mark and Barbara Matthews Directions Using the tax software, complete the tax return, including Form 1040 and all appropri- ate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNs) or Employer Identification Numbers (EINS), replace the Xs as directed, or with any four digits of your choice....
Required information [The following information applies to the questions displayed belowj John and Sandy Ferguson got married eight years ago and have a seven-year-old daughter, Samantha. In 2018, John worked as a computer technician at a local university earning a salary of $153,500, and Sandy worked part-time as a receptionist for a law firm earning a salary of $30,500. John also does some Web design work on the side and reported revenues of $5,500 and associated expenses of $1,500. The...
Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as a deductible medical expense? A. Cost of long-term care for a developmentally disabled person in a relative’s home. B. Special school for a deaf child to learn lip reading. C. Cost of elevator installed for individual who had heart bypass surgery (in excess of increase in value of individual’s home). D. Cost and care of guide dogs used by a blind person in his...
using the information fill out the 1040 tax form
1:9-72 George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 49001 and want you to prepare their 2017 income tax return based on the information below: George Large worked as a salesman for Toyboat, Inc. He received a salary of $80,000 ($8,500 of federal income taxes withheld and $1,800 of state income taxes withheld) plus an expense reimbursement from Toyboat of $5,000...
Super stuck on a couple of questions on this scenario.
Advanced Scenario 7: Mark and Barbara Matthews Directions Using the tax software, complete the tax retum, including Form 1040 and all appropri- ate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNS) or Employer identification Numbers (EINS), replace the Xs as directed, or with any four digits of your choice. Interview Notes • Mark and Barbara are married and want to file...