Phan Mai is single with two dependent children under age 17. Phan estimates her wages for the year will be $42,000 and her itemized deductions will be $14,000. In the previous year, Phan had a small tax liability. Assuming Phan files as head of household, use Form W-4 to determine the number of withholding allowances Phan should claim.

Q: Andrew​, who is​ single, retired from his job this year. He received a salary of $22,000 for the…

A: Adjusted gross income (AGI) is calculated by deducting deductions for AGI from the gross income.

Q: Jacquiline is unmarried and age 32. Even though she participates in an employer-sponsored retirement…

A: Given: Contribution = $3,000 Marginal tax rate = 12%

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A: Annual Income - $81400 Single Standard Tax Deduction - $6300 Personal Exemption Amount - $4050

Q: Lucy is 17 years old and a dependent of her parents. She receives $9,000 of wages from a​ part-time…

A: Lucy is 17 years below 19 years of age and hence qualified for children tax rate  Wages =9000…

Q: Kamryn Brown is single and earns $50,000 in taxable income and will use the following tax rate…

A: The question is related to the taxation of single individual as per the tax slab given.

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A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

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Q: Jacob, age 42, and Jane Brewster, age 44, are married and file a joint return in 2020. The Brewsters…

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Q: Paquito, a university instructor, earns a gross monthly salary of ₱46,200.00. Paquito is married and…

A: Net income is the final income received the employee from the employer after deducting all…

Q: Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In…

A: After tax cost is the amount of expenditure that is incurred during the year and that expenditure is…

Q: Samuel, married to John, with two children as dependents, has 2020 wages of $60,000, paid alimony of…

A: Income tax is the tax levied by the state and central government on the income earned by the firm or…

Q: llene rents her second home. During the year, llene reported a net loss of $15,700 from the rental.…

A: correct answer is $10,450

Q: Sally, age 44, has 3 dependent children between age 6 and 17. The children live with her and qualify…

A: As Sally can file return as Head of Household, she can avail standard deduction.  For persons filing…

Q: Patricia, an unmarried taxpayer who is head of household, has adjusted gross income of \$42 ,800 and…

A: Answer: If Patricia elects to participate in the employer provided program and has her expenses…

Q: Natasha is a 21 year old,unmarried student who lives alone. Last year her taxable income was…

A: Gross income is the income which a taxpayer has earned during the year means all money which the…

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A: Given that : Harry and Wilma paid qualifying expense for child care $17,000 for 2 children. So as…

Q: Clarita is a single taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000 in…

A: Standard deduction refers to the non-taxable portion of income. It is based on the age, filing…

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Q: Brian and Kim have a 12-year-old child, Stan. For 2018, Brian and Kim have taxable income of…

A: Taxable Income:Taxable income refers to the base upon which an income tax system imposes tax.…

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A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Ray, who is single and 22 years old, was unemployed for a few months during 2020. He earned $6,700…

A: Answer: Option A. $0

Q: orest is a full-time employee in Marlboro, South Dakota, who earns $58,450 annually, paid biweekly.…

A: Garnishment : It is the legal process for collecting monetary judgement on behalf of debtor and…

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

A: Smallest amount of withholding is 90% of the tax for current year or 100% of tax shown on return in…

Q: Tinh Tran is a physical therapist. He earns $49,830 a year and is single with no dependents. The…

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Q: Jeremy earned $100,400 in salary and $6,400 in interest income during the year. Jeremy’s employer…

A:

Q: Karen most had a federal tax levy of 2100.50 against her. If Most is single with two personal…

A: Take home Pay = $ 499 per week Personal Exemption = $ 4,050

Q: Rex and Dena are married and have two children, Michelle (age seven) and Nancy (age five). During…

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Q: In 2021, Ivanna, who has three children under age 13, worked full-time while her spouse, Sergio, was…

A: Sergio is in full-time employment for a period of 9 months So it is deemed that he earned $500 per…

Q: Karen Most has a federal tax levy of $2,100.50 against her. If Most is single with two personal…

A: Federal tax levy: The amount of taxes levied on an employee's take-home pay, based on the levy rate…

Q: Xialu is a single taxpayer who is under age 65 and in good health. For 2020, she has a salary of…

A: (a) The allowable standard deduction of $12,400 is higher than itemised deduction of $7,000…

Q: Kyle Struck's filing status is single, and he has earned gross pay of $2,360. Each period he makes a…

A: Given information: Gross pay = $2,360.

Q: Rachel is single and has wages of $150,000 and dividend income of $90,000. She has no investment…

A: Net investment income tax is part of income tax which is charged on the investment income like,…

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Q: Greg earned $25,500 in 2021 and had $1,500 of federal income taxes withheld from his salary.…

A: It is given that, Greg earned $25,500 in 2021 and had $1,500 of federal income taxes withheld from…

Q: Kendra is a self-employed taxpayer working exclusively from her home office. Before the home office…

A: The correct answer is option (d)Only $6,000 home office expenses may be deducted, resulting in net…

Q: Jayana, a calendar-year taxpayer, uses the cash method of accounting for a sole proprietorship. In…

A: Under the cash basis of accounting, the expenses are accounted for in the period in which they are…

Q: Kamryn Brown is single and earns $65,000 in taxable income and will use the following tax rate…

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Q: Lisa is a member of Bigfoot LLC, which runs a retail business in which she is active. For the…

A: Lisa income are as follows : Guaranteed payment = $40000 Here guaranteed payment is the amount…

Q: Andrew​, who is​ single, retired from his job this year. He received a salary of $24,000 for the…

A: Gross income: It is the total of income of the individual from all the sources of income earning.

Q: Paige had $100,000 of income from wages and $3,650 of taxable interest. Paige also made…

A: Calculation of Paige's total income: Particulars Amount Income from Wages $100,000 Add:…

Q: Caroline has a net income of 80000. she has received her T4 in the middle of February and she knows…

A: Tax Credit: A tax credit is a measure of credit that citizens can take away straightforwardly from…