b.Even if lisa receives a refund , she is not eligible for a refund of FICA taxes that was withheld by her employer
11 Lisa is single, age 40, with 2 children age 8 and 10 whom she supports...
Question 12 Barbara is single and has one child, Cheerio. In 2020 her AGI is $25,000. Her tax liability before any credits is $400 and she has an earned income credit of $3,584. She had $750 of federal income taxes withheld from her pay. Barbara will receive a federal income refund of Answer saved Points out of 1.00 Select one: Remove flag a. $750 b. $3,934. c. $3,184. d. $4,334 e. $3,584 Clear my choice Answers
Hello my name is Pete. I am looking to improve in this class and wanted to see if anyone would be able to help me with these questions. Thank you ahead of time. Here is the information. Erica Swanson (SSN 376-38-4930), age 46, is a single parent with three children: Her biological son, Sean Swanson (age 19) is a part-time college student who works fulltime as a landscaper Her biological daughter, Brooklyn Swanson (age 14) Her adopted daughter, Sydney Swanson...
Mrs. Cora Yank (age 42) is divorced and has full custody of her 10-year-old son, William. Mrs. Yank works as a medical technician in a Chicago hospital. Her salary was $38,400, from which her employer withheld $1,045 federal income tax and $2,938 employee FICA tax. Several years ago, Mrs. Yank was seriously injured in a traffic accident caused by another driver’s negligence. This year, she received a $25,000 settlement from the driver’s insurance company: $20,000 as compensation for her physical...
3. Mary Parker is 24 years of age, single, lives in an apartment, and has no dependents. Last year she earned $68,700 as a wharehouse supervisor for Amazon in Dallas. $5,250 of her wages were withheld for Federal Incomes taxes. In addition, she had interest income from a time deposit (CD) of $962. Estimate her taxable income, tax liability, and tax refund/owed. (Look in your text for the income tax schedules and standard deductions). 4. Bill and Betty Jacobs jointly...
Jan is a single, cash-method taxpayer. On April 11 2018, Joyce paid $140 in state income taxes with her 2017 state income tax return. During 2018 Jan had $2,000 in state income taxes withheld. On April 13, 2019, Jan paid $250 with her 2018 state tax return. During 2019 she had $2,600 in state income taxes withheld from her paycheck. Upon filing her 2019 tax return on April 15, 2020 she received a refund of $350 for excess state income...
Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2016. Alfred and Beulah will file a joint return for 2018. Alfred’s Social Security number is 111-11-1112. Beulah’s Social Security number is 123-45-6789, and she adopted “Old” as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorced from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years...
2. If Lola Harper had the following itemized deductions, should she use Schedule A or the standard deduction? The standard deduction for her tax situation is $12,000. Donations to church and other charities, $6,050 Medical and dental expenses exceeding 10 percent of adjusted gross income, $2,400 State income tax, $4,690 5. What would be the average tax rate for a person who paid taxes of $4,584 on a taxable income of $41,670? 8. If $4,026 was withheld during the year...
Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2016. Alfred and Beulah will file a joint return for 2018. Alfred’s Social Security number is 111-11-1112. Beulah’s Social Security number is 123-45-6789, and she adopted “Old” as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorced from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years...
Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2016. Alfred and Beulah will file a joint return for 2018. Alfred’s Social Security number is 111- 11-1112. Beulah’s Social Security number is 123-45-6789, and she adopted “Old” as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorced from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10...
Mike E. Smith and Jean A. Field, each age 42, married on September 7, 2016. Mike and Jean will file a joint return for 2018. Mike’s Social Security number is 111-11- 1112. Jean’s Social Security number is 123-45-6789, and she adopted “Smith” as her married name. They live at 211 Brickstone Drive, Brooklyn, NY 11304. Mike was divorced from Sarah Smith in March 2016. Under the divorce agreement, Mike is to pay Sarah $1,250 per month for the next 10...