Homework Answers
1. 90 % of the tax shown in current year return.
2.100% of the tax shown in preceding years return.
3.If the AGI in the preceding years return exceeds $150,000, the requirement is increased to 110%.
Add Answer to:
payment must make quarterly payments. The required annual payment is the smaller of % of the...
Complete the following statements regarding estimated taxes. Enter percents as whole numbers. Any individual who has est...
Complete the following statements regarding estimated taxes.
Enter percents as whole numbers.
Any individual who has estimated tax for the year of $ or more
and whose withholding does not equal or exceed the
required annual payment must make quarterly payments. The required
annual payment is the smaller of
(1) % of the tax shown on the current year’s return or
(2) % of the tax shown on the preceding year’s return.
If the AGI on the preceding year’s return...
Will must make quarterly estimated income tax payments to the Internal Revenue Service. The amounts and...
Will must make quarterly estimated income tax payments to the Internal Revenue Service. The amounts and timing of these payments are shown below. Also shown are the monthly interest rates that apply to each interval of time. What is the P-equivalent of Will's payments on January 15? Jan. 15 April 15 June 15 Sept. 15 i= 1/4% i=112% ;= 3/4% mo. mo. mo. $8,000 $10,000 $11,000 $8,000 The P-equivalent of Will's payments on January 15 is $ . (Round to...
40913 is incorrect. find answer using this formula. Will must make quarterly estimated income tax payments...
40913 is incorrect. find answer using this formula.
Will must make quarterly estimated income tax payments to the Internal Revenue Service. The amounts and timing of these payments are shown below. Also shown are the monthly interest rates that apply to each interval of time. What is the P-equivalent of Will's payments on January 15? Jan. 15 April 15 June 15 Sept. 15 mo. mo. mo. $9,000 $11,000 $12,000 $9,000 The P-equivalent of Will's payments on January 15 is $...
An estate is required to make estimated payments for any tax year ending two or more...
An estate is required to make estimated payments for any tax year ending two or more years after the decedent's date of death unless: * The estate had no tax liability in the preceding year, and the preceding year was at least six months. There are more than three beneficiaries. The balance due is less than $1,000, and the amount paid through withholding and credits is less than 90% of the current year's tax and less than 100% of the...
Which of the following is not an acceptable method of determining the required annual payment of...
Which of the following is not an acceptable method of determining the required annual payment of federal income tax for corporations? A) 100 percent of the prior year's tax liability (with a few exceptions) B) 100 percent of the current year's tax liability C) 100 percent of the estimated current year tax liability using the annualized income method D) All of the choices are acceptable methods of determining the required annual payment of federal income tax for corporations. Explain. Explain.
When must taxpayers make quarterly estimated tax payments? Discuss the rationale for a maximum wage base...
When must taxpayers make quarterly estimated tax payments? Discuss the rationale for a maximum wage base for Social Security and no maximum for Medicare. Should there be a maximum base for Social Security and Medicare? What are the general rules for qualified retirement plans? Discuss different types of qualified plans.
You must make a payment of $1,642.68 in 10 years. To get the money for this...
You must make a payment of $1,642.68 in 10 years. To get the money for this payment, you will make 5 equal deposits, beginning today and for the following 4 quarters, in a bank that pays a nominal interest rate of 12% with quarterly compounding. How large must each of the 5 payments be? Round your answer to the nearest cent.
Your employer has agreed to make 80 quarterly payments of $400 each into a trust account...
Your employer has agreed to make 80 quarterly payments of $400 each into a trust account to fund your early retirement. The first payment will be made 3 months from now. At the end of 20 years (80 payments), you will be paid 10 equal annual payments, with the first payment to be made at the beginning of year 21 (or the end of Year 20). The funds will be invested at a nominal rate of 8 percent, quarterly compounding,...
Problem 2.7 A loan of $8,000 must be repaid with 6 year-end level payments (i.e., constant...
Problem 2.7 A loan of $8,000 must be repaid with 6 year-end level payments (i.e., constant pay- ments). The effective annual loan rate is 11%. What is the annual payment? Problem 2.8 You make a deposit now into an account earning 6% annually in return for a payment of 250 at the end of each of the next 8 years. What should you deposit today? Problem 2.9 An annuity immediate has semi-annual payments of 1,000 for 25 years at a...
an increasing perpetuity immediate makes annual payments. the first payment is 100 and each subsequent payment...
an increasing perpetuity immediate makes annual payments. the first payment is 100 and each subsequent payment is larger than the preceding payment by an amount X. based on an annual effective interest rate of 10%, the present value of the perpetuity at time 0 is one half of its present value at time 20. what is rhe value of x?
Complete the following statements regarding estimated taxes.
Enter percents as whole numbers.
Any individual who has estimated tax for the year of $ or more
and whose withholding does not equal or exceed the
required annual payment must make quarterly payments. The required
annual payment is the smaller of
(1) % of the tax shown on the current year’s return or
(2) % of the tax shown on the preceding year’s return.
If the AGI on the preceding year’s return...
Will must make quarterly estimated income tax payments to the Internal Revenue Service. The amounts and timing of these payments are shown below. Also shown are the monthly interest rates that apply to each interval of time. What is the P-equivalent of Will's payments on January 15? Jan. 15 April 15 June 15 Sept. 15 i= 1/4% i=112% ;= 3/4% mo. mo. mo. $8,000 $10,000 $11,000 $8,000 The P-equivalent of Will's payments on January 15 is $ . (Round to...
40913 is incorrect. find answer using this formula.
Will must make quarterly estimated income tax payments to the Internal Revenue Service. The amounts and timing of these payments are shown below. Also shown are the monthly interest rates that apply to each interval of time. What is the P-equivalent of Will's payments on January 15? Jan. 15 April 15 June 15 Sept. 15 mo. mo. mo. $9,000 $11,000 $12,000 $9,000 The P-equivalent of Will's payments on January 15 is $...
Your employer has agreed to make 80 quarterly payments of $400 each into a trust account to fund your early retirement. The first payment will be made 3 months from now. At the end of 20 years (80 payments), you will be paid 10 equal annual payments, with the first payment to be made at the beginning of year 21 (or the end of Year 20). The funds will be invested at a nominal rate of 8 percent, quarterly compounding,...
Problem 2.7 A loan of $8,000 must be repaid with 6 year-end level payments (i.e., constant pay- ments). The effective annual loan rate is 11%. What is the annual payment? Problem 2.8 You make a deposit now into an account earning 6% annually in return for a payment of 250 at the end of each of the next 8 years. What should you deposit today? Problem 2.9 An annuity immediate has semi-annual payments of 1,000 for 25 years at a...
Most questions answered within 3 hours.
-
NEED THIS URGENTLY PLEASEEE
Suppose a fair coin is tossed 5 times and the result are...
asked 6 minutes ago -
Find the magnetic field B produced by several circular loops of
which has a radius given...
asked 14 minutes ago -
A mole of monatomic ideal gas is expanded from 0.45 L to 0.75L
at an external...
asked 13 minutes ago -
Carbon dioxide (CO2) gas is steadily pressurized and cooled by
sending it sequentially through a compressor...
asked 17 minutes ago -
calculare the standard deviation of a portfolio that contains 40%
of one stock with a standard...
asked 15 minutes ago -
When exposed to sunlight, a hole in a sheet of copper expands in
diameter by 0.160...
asked 32 minutes ago -
Economists believe that there are many nonmonetary gains from
further trade opening. Which of the following...
asked 34 minutes ago -
For message exchange over the Internet, the specific processes
that send and receive packets are identified...
asked 27 minutes ago -
How would
you create a group that promotes multicultural
understanding?
Should a
session conducted with youth...
asked 34 minutes ago -
A 2-kg block sits on a horizontal table. There is a hole in the
table directly...
asked 47 minutes ago -
If the rate law for the reaction A ⟶ Products is rate = k[A]2 ,
calculate...
asked 51 minutes ago -
A
projectile is shot horizontally at 23.4 m/s from the roof of a
building 55 m...
asked 1 hour ago