Rick, who is single, has been offered a position as a city landscape consultant. The position pays $147,800 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 $139,000 in cash compensation and nontaxable (excluded) benefits worth $8,800. What is the amount of Rick’s after-tax compensation for the competing offer?

Individual Income Taxes
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Chapter4: Gross Income: Concepts And Inclusions
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Rick, who is single, has been offered a position as a city landscape consultant. The position pays $147,800 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 $139,000 in cash compensation and nontaxable (excluded) benefits worth $8,800. What is the amount of Rick’s after-tax compensation for the competing offer?

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