Homework Answers
| Description | Amount | |
| 1 | Gross Income | $ 137000 |
| 2 | For AGI deductions | Nil |
| 3 | Adjusted gross income | $ 137000 |
| 4 | Standard Deduction | $ 12400 |
| 5 | Taxable Income | $ 124600 |
| 6 | Income tax liability ( Working Note ) | $ 23984 |
| 7 | After tax compensation | $ 100617 |
Working Note
| Calculation | Amount ( Rounded to nearest whole number ) | |
| upto $9875 | 9875*10% | $ 988 |
| $9875 - $40125 | (40125-9875)*12% | $ 3630 |
| $40125 - $85525 | (85525-40125)*22% | $ 9988 |
| $85525 - $163300 | (124600-85525)*24% | $ 9378 |
| Total | $ 23,984 |
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Required information [The following information applies to the questions displayed below.) Emily, who is single, has...
Please bold answer in explanation thank you Emily, who is single, has been offered a position...
Please bold answer in explanation thank you
Emily, who is single, has been offered a position as a city landscape consultant. The position pays $150,200 in cash wages. Assume Emily has no dependents. Emily deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business income deduction. (Use the tax rate schedules.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Problem 4-31 Part-a (Algo) a. What is the amount...
Required information The following information applies to the questions displayed below) Rick, who is single, has...
Required information The following information applies to the questions displayed below) Rick, who is single, has been offered a position as a city landscape consultant. The position pays $155,000 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. (Use the tax rate schedules.) a. What is the amount of Rick's after-tax compensation (ignore payroll taxes)? (Round your intermediate calculations and final...
Required information The following information applies to the questions displayed below.) Rick, who is single, has...
Required information The following information applies to the questions displayed below.) Rick, who is single, has been offered a position as a city landscape consultant. The position pays $141,800 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. (Use the tax rate schedules.) a. What is the amount of Rick's after-tax compensation (ignore payroll taxes)? (Round your intermediate calculations and final...
Required information [The following information applies to the questions displayed below.) Rick, who is single, has...
Required information [The following information applies to the questions displayed below.) Rick, who is single, has been offered a position as a city landscape consultant. The position pays $129,800 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. (Use the tax rate schedules.) b-1. Suppose Rick receives a competing job offer of $124,000 in cash compensation and nontaxable (excluded) benefits worth...
Required information [The following information applies to the questions displayed below.] Rick, who is single, has...
Required information [The following information applies to the questions displayed below.] Rick, who is single, has been offered a position as a city landscape consultant. The position pays $144,200 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions. (Use the tax rate schedules.) a. What is the amount of Rick’s after-tax compensation (ignore payroll taxes)? (Round your intermediate calculations and final answer to the nearest whole dollar amount. Enter deductions as negative...
Emily, who is single, has been offered a position as a city landscape consultant. The position...
Emily, who is single, has been offered a position as a city landscape consultant. The position pays $139,400 in cash wages. Assume Emily has no dependents. Emily deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business income deduction. (Use the tax rate schedules.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.) a. What is the amount of Emily's after-tax compensation (ignore payroll taxes)? Amount $ 139,400 0...
Rick, who is single, has been offered a position as a city landscape consultant. The position...
Rick, who is single, has been offered a position as a city landscape consultant. The position pays $135,800 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. a. What is the amount of Rick’s after-tax compensation (ignore payroll taxes)? b-1. Suppose Rick receives a competing job offer of $129,000 in cash compensation and nontaxable (excluded) benefits worth $6,800. What is the...
Rick, who is single, has been offered a position as a city landscape consultant. The position...
Rick, who is single, has been offered a position as a city landscape consultant. The position pays $125,000 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. (Use the tax rate schedules.) Problem 4-30 Parts b-1 to b-2 b-1. Suppose Rick receives a competing job offer of $120,000 in cash compensation and nontaxable (excluded) benefits worth $5,000. What is the amount...
Emily, who is single, has been offered a position as a city landscape consultant. The position...
Emily, who is single, has been offered a position as a city landscape consultant. The position pays $151,400 in cash wages. Assume Emily has no dependents. Emily deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business income deduction. (Use the tax rate schedules.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ ...
1) Rick, who is single, has been offered a position as a city landscape consultant. The...
1) Rick, who is single, has been offered a position as a city landscape consultant. The position pays $155,000 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions. a) Gross income $155,000 For AGI deductions $0 Adjusted gross income $155,000 Standard Deduction $xxxx Taxable income $xxxx Income Tax Liability $xxxx After Tax compensation $xxxx B) Suppose Rick recieves a competing job offer of $145,000 in cash compensation and nontaxable benefits worth $10,000....
Please bold answer in explanation thank you
Emily, who is single, has been offered a position as a city landscape consultant. The position pays $150,200 in cash wages. Assume Emily has no dependents. Emily deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business income deduction. (Use the tax rate schedules.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Problem 4-31 Part-a (Algo) a. What is the amount...
Required information The following information applies to the questions displayed below) Rick, who is single, has been offered a position as a city landscape consultant. The position pays $155,000 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. (Use the tax rate schedules.) a. What is the amount of Rick's after-tax compensation (ignore payroll taxes)? (Round your intermediate calculations and final...
Required information The following information applies to the questions displayed below.) Rick, who is single, has been offered a position as a city landscape consultant. The position pays $141,800 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. (Use the tax rate schedules.) a. What is the amount of Rick's after-tax compensation (ignore payroll taxes)? (Round your intermediate calculations and final...
Required information [The following information applies to the questions displayed below.) Rick, who is single, has been offered a position as a city landscape consultant. The position pays $129,800 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. (Use the tax rate schedules.) b-1. Suppose Rick receives a competing job offer of $124,000 in cash compensation and nontaxable (excluded) benefits worth...
Emily, who is single, has been offered a position as a city landscape consultant. The position pays $139,400 in cash wages. Assume Emily has no dependents. Emily deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business income deduction. (Use the tax rate schedules.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.) a. What is the amount of Emily's after-tax compensation (ignore payroll taxes)? Amount $ 139,400 0...
Rick, who is single, has been offered a position as a city landscape consultant. The position pays $125,000 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. (Use the tax rate schedules.) Problem 4-30 Parts b-1 to b-2 b-1. Suppose Rick receives a competing job offer of $120,000 in cash compensation and nontaxable (excluded) benefits worth $5,000. What is the amount...
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