1.Blaine Phillips files a s married filing jointly on his tax return and earned weekly gross pay of $385. He does not make any retirement plan contributions.  B checked box 2c on Form W-4 and did not enter any information in steps 3-4 of the form. Federal income tax withholding=$

Q: n 2021, Sheryl is claimed as a dependent on her parents' tax return. Her parents report taxable…

A: Kiddie tax is applicable when the taxpayer's age is less than 18 years old.  Another condition is…

Q: Marco and Tatiana are married and file separate returns for 2021. Tatiana itemizes her deductions on…

A: Marco’s adjusted gross income = $18,000 Less: itemized deductions = $2,400 Taxable income =…

Q: c Belanger (married; 4 federal withholding allowances) earned weekly gross pay of $1,275. He does…

A: The amount of federal income tax deducted from an employee's paycheck is referred to as…

Q: A married couple files a joint return. The couple has no net capital gain or qualified dividend…

A: For AMT calculation, there is an exemption upto $ 114600 in case of joint return. Till $ 199900,…

Q: 3. Maria Moore files as married filing jointly on her tax return and earned weekly gross pay of…

A: There are 2 methods for calculating the federal tax withholding:- Wage bracket method or Percentage…

Q: As a tax return preparer for The Fernando Rodriguez Tax & Accounting Service, you have information…

A: Solution:

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: Amount of AMT Deduction phases out or decreases 25% for every increase in AMTI above $1,047,200…

Q: 1 Blaine Philips files as married fing jointly on his tax return and earned weekly gross pay of $385…

A: The table used for calculation is as follows:

Q: nswer to 2 decimal places.) A. Her $44,600 of taxable income includes $3,600 of qualified…

A: Calculation of tax liability in A. Qualified dividend are taxed as capital gains. Therefore, total…

Q: Blaine Philips files as married filing jointly on his tax return and earned weekly gross pay of 385.…

A: There are 2 methods for calculating the federal tax withholding:- Wage bracket method or Percentage…

Q: In 2021, Sheryl is claimed as a dependent on her parents' tax return. Her parents report taxable…

A: In this case 7000 $ is an unearned income,and it exceeded 2200 limit.

Q: Status and Tax Computation, The Standard Deduction (LO 1.3, 1.5, 1.8) Jonathan is a 35-year-old…

A: Adjusted gross income =47000 Standard deductions =12400 Taxable income =47000-12400=34600 Taxable…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: In the given case, Olga is married and files joint return with her Husband. Hence the phase out…

Q: Jackson, age 35, and Peggy, age 34, are married and file a joint income tax return for 2020. Their…

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: 14. Which of the following statements disqualify someone from using Form 1040EZ to file a tax…

A: To use the form, a taxpayer had to have taxable income of less than $100,000, less than $1,500 of…

Q: During the 2021 financial year, Kate (a resident taxpayer) received wages from her employment…

A: Since the income exceeds $18,200 , the income will be taxable. Employer withholds Pay as you go…

Q: None

A: *Answer:  Using the tax rate schedule, tax is caluclated as below

Q: Emily and Juan are married and filed jointly. Their combined wages were $130,000 and they had no…

A: (a) Tax Payer - Emily and Juan (b) Status - Married Filing Jointly (MFJ) (c) Combined Wages = $…

Q: 2. Chloe Fineman files as single on her tax return and earned weekly gross pay of $920. For each pay…

A: There are 2 methods for calculating the federal tax withholding:- Wage bracket method or Percentage…

Q: Lacy is a single taxpayer. In 2021, her taxable income is $44,600. What is her tax liability in each…

A: Taxable income would be any remuneration received by an individual or corporation that would be used…

Q: n 2021, Sheryl is claimed as a dependent on her parents' tax return. Her parents report taxable…

A: In this question, we have to compute Tax liability

Q: Lacy is a single taxpayer. In 2021, her taxable income is $42,800. What is her tax liability in each…

A: a) 10% x $9950 + 12% x ( $40525 - $9950) + 22% x ($42800 - $40525) =$995 + $3669 + $500.5 =$5164.5…

Q: As a tax return preparer for The Fernando Rodriguez Tax & Accounting Service, you have been asked to…

A: Gross income:  Gross income is the sum of all forms of income of the taxpayer before claiming any…

Q: Xavier and his wife Maria have total W-2 income of $95,102. They will file their tax return as…

A: Tax Liability: the tax liability is the amount of money owed to the IRS in the form of tax debt.…

Q: Calculate the AGI, Taxable Income and Tax Liability for 2021 for Samantha age 63 and Bob age 64 who…

A:

Q: Jane Doe is single and claims 2 withholding allowances. If her weekly gross earning is $1,450, then…

A: Federal Withholding Tax: It is the tax which one pays to the government of their respective country…

Q: Alejandro Wright files as single on his tax return and earned weekly gross pay of 1330. He does not…

A: Given: Gross Pay = $1330 Tax Credit = $500

Q: n 2021, Lisa and Fred, a married couple, had taxable income of $305,200. If they were to file…

A: Taxable income: When one individual earns income from a country then he or she has to pay tax as per…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: Since Olga is married and files Joint Return, the appropriate exemption would be $114,600. However,…

Q: William and Maria Smith are married couple filing jointly. They have no children and report the…

A: Alternative Minimum Tax (AMT) Liability is the excess of Alternative Minimum Tax (AMT) over the…

Q: As a tax return preparer for The Fernando Rodriguez Tax & Accounting Service, you have been asked to…

A: As per the Tax Laws, you can either claim Standard deduction or itemized deduction. Standard…

Q: 1: Julia Jacobsen files as single on her tax return and earned weekly gross pay of 510. For each pay…

A: As you have posted multiple independent questions, we are answering the first question. Please…

Q: The Tax Formula for Individuals, Filing Status and Tax Computation, The Standard Deduction (LO 1.3,…

A: Taxable income: It is the income of the individual used to determine the tax liability. It is…

Q: Marlin and Teri are married and will file a joint return. They live in a state that does not impose…

A: Itemized deductions are the one which are deducted from the gross income of the tax payer so that…

Q: Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt…

A: Following are the income brackets applicable for the year 2019:

Q: 3. Danielle Curtain files as married fing jointly on her tax retum and earned weekly gross pay of…

A: The wage bracket method can be used by employees who are claiming a maximum of 10 allowances. The…

Q: In 2018, Lisa and Fred, a married couple, had taxable income of $337,500. If they were to file…

A: Compute the tax liability - separate filing   Lisa [$14,089.50 + ($137500-$82500) x 24%]…

Q: Required: Calculate Roberta's net tax payable or refund due for 2018.   Assume a qualifying…

A: Transaction between related parties: The code imposes limitations on the recognition of losses from…

Q: As a tax return preparer for The Fernando Rodriguez Tax & Accounting Service, you have been asked to…

A: WORKING NOTE:   Adjusted Gross Income $ 53160 Add : Adjustments to Income          $3,340…

Q: Susan and Stan Britton are a married couple who file a joint income tax return, where the tax rates…

A: Federal Income Tax There are different category which are provided to pay the federal income tax…

Q: Seth and Vanessa are married and filing jointly. Their taxable income is $140,526. Use the Tax Rate…

A: Tax A tax may be defined as an involuntary contribution from individuals or corporations as required…

Q: Eric Belanger (married; 4 federal withholding allowances) earned weekly gross pay of $1,275. He does…

A: Given: Eric Belanger (married; 4 federal withholding allowances) Weekly gross pay = $1,275 The city…

Q: a taxpayer’s spouse died on march 31, 2020. he has no qualifying child. which status should the…

A: Tax refers to the amount charged by the government to the individuals and organizations on the…

Q: As a tax return preparer for The Fernando Rodriguez Tax & Accounting Service, you have been asked to…

A: Introduction: The word standard deduction represents the percentage of your income that is not taxed…

Q: n 2019, Cheryl, who is single and not a dependent of another taxpayer, has taxable income of…

A: Every Individual who is earning more than the limit prescribed then person has to pay tax amount to…

Q: In 2021, Lisa and Fred, a married couple, had taxable income of $321,000. If they were to file…

A: Tax liability couple:-  Total income = $321,000 $19,900 ×10%                      = $1,990 $61,149 ×…

Q: Calculate Social Security and Medicare tax for the below-listed employees of TCLH Industries, a…

A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…

Filing Federal Income Tax Return

A tax is the amount of money paid to the government on the revenue earned by the individual or business organization. It acts as an income for the government and an expense for the individual or business organization. There are different regulations regarding filing an income tax return in other countries.