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

Q: Agnes, a resident taxpayer, has a taxable income of $50,000 for the income tax year ended 30 June…

A: PAYG is pay as you go is amount  of tax deducted by employer  at source. After filing income  tax…

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A: calculation of  adjusted gross income and taxable income and other requirement are as follows

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Q: estate amounting to 125,000,000. This includes

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A: Pay as you Go [PAYG] is the amount of tax withheld by the employer from the pay out of the employee…

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A: Taxable income is the portion of a person's or a company's income that is used to calculate how much…

Q: Brooke, a single taxpayer, works for Company A for all of 2021, earning a salary of $64,000. a.…

A: The question is related to Federal Insurance Contribution Act shared equally by employer amd…

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Q: In 2019, Gloria, a single taxpayer, receives a Schedule K-1 from a partnership she is invested in.…

A: QBI deduction:   QBI is the net number of qualified items of income, gain, deduction and loss from…

Q: Huy, single, operates a sole proprietorship. In 2020, Huy's QBI is $74,348, and his modified taxable…

A: It is the deduction available on the qualified business income subject to the provisions of IRS.…

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A: Tax: It is the amount that is paid for the services the government has rendered to the public. It is…

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A: Salary: Its a compensation to be paid to employees for contributing their time and providing…

Q: Leslie is a single taxpayer who is under age 65 and in good health. For 2018, she has a salary of…

A: Requirement 1: Determine the amount of adjusted gross income. Individual taxpayers compute their tax…

Q: Brooke, a single taxpayer, works for Company A for all of 2020, earning a salary of $66,000. Assume…

A: Gross pay: It is the total amount of wages earned by employees without deducting any taxes or…

Q: n. What is the amount of Roberta's self employment tax (Social Security and Medicare taxes)…

A:

Q: Assume Edgar (age 45), a single taxpayer, has total itemized deductions of $19,252 for 2019, which…

A: Income tax:    It is the amount a person is liable to pay on the earned amount in an accounting…

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A: A tax is a mandatory contribution or financial fees levied by the government on the income generated…

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

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Q: Jane is a single taxpayer with a current year AGI of $181,000 and current year income tax liability…

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A: Hello, I am only answering first three sub parts of the question as per the policy and if you want…

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Q: What is the other dependent credit Mr. and Mrs. Vonce may claim on their 2019 tax return?

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A: Taxes are the amount of dues or liabilities that needs to be paid by individual on account of…

Q: Alice is single and self-employed in 2021. Her net business profit on her Schedule C for the year is…

A: Self-employment tax: It is a tax that includes social security tax and medicare tax for calculating…

Q: Paulina Morales, a single taxpayer, had wage income of $68,950 in 2019. Her only other income was…

A: Given that, Paulina Morales is as single tax payer wage income = $68950 Her only other income =…

Q: Whitney received $77,200 of taxable income in 2021. All of the income was salary from her employer.…

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

Q: Diego, age 28, married Dolores, age 27, in 2019. Their salaries for the year amounted to $80,000 and…

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Q: Sheila and Joe Wells are married with no dependent children. During 2021, they have gross income of…

A: This question deals with the calculation of tax refund for year 2021. As per US tax code, First we…

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: Ramon, a single taxpayer with no dependents, has adjusted gross income for 2019 of $98,000 and his…

A: Calculation of Taxable income:

Q: William is not married, nor does he have any dependents. He does not itemize deductions. His taxable…

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.