Tax form 1040...12a, 12b...how do you compute those numbers 13a,
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Tax form 1040...12a, 12b...how do you compute those numbers
13a, 13b is the child tax credit..is it $3000 for each child and eligible dependent
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- PERSONAL TAXES Joe and Jane Keller are a married couple who file a joint income tax return, where the tax rates are based on the tax tables presented in the chapter. Assume that their taxable income this year was 165,000. a. What is their federal tax liability? b. What is their marginal tax rate? c. What is their average tax rate?need help calculatin Earned Income Credit, for the year 2022. taxpayer has 3 qualifying children which are going to be claimed and her AGI is $20, 034 with $1.75 of interest received. her taxable income in $1,636. federal income tax withheld is $2, 103. our additional child tax credit from form 8812 is $2,780. how can we calculated EIC? in the irs page is saying it would be $ 6, 935 but its not correct. please help i need correct calculation of eicBased on the following data, would Beth and Roger Simmons receive a refund or owe additional taxes? (LO3.2) Adjusted gross income, $42,140 Credit for child and dependent care expenses, $400 Amount for personal exemptions, $12,150 Itemized deductions, $11,240 Federal income tax withheld, $6,686 Tax rate on taxable income, 10 percent
- Herschel needed form 8863 Education Credits is shown below,Assuming they meet all the requirements , what amount can Jake and Nicole claim for the American opportunity tax credit when they file their 2021 return They're gross income is 47,000 amount of tax report online 1618 other form 10 AveThey're gross income is 47,000 amount of tax report online 1618 other form 1040 is $2233. No additional taxesIf Ana chose to be taxed at an 8 percent rate, how much is her overall income tax? (based on the provided photo) P321,500 P342,500 P351,500 P358,000c. Compute Charlotte's child and dependent tax credit.Charlotte's child tax credit is $8,000, of which $ ______ may be refundable and her dependent tax credit is $1,000 of which $0 may be refundable. I understand where the $8,000 comes from and the where the $1000 comes from, However the one blank, nothing seems to work, )1000, 500, 2000, etc.)
- For tax year 2023Cindy has work-related dependent care expenses of $3,200 for the care of one qualifying person, and work-related dependent care expenses of $3,800 for another qualifying person. What amount of these work-related expenses may Cindy use when figuring the Child and Dependent Care Credit? A) $2,800 B) $3.000 C) $7,000 D) $6,000Determine the Income Taxes Responsibility for this taxpayers, remember to present procedure in any taxpayer. Taxpayer(s) Filing Status Income Itemized Deductions income Taxes LiabilityArturo Single $29,239 $2,000 ___________Belize HOH $53,129 $14,500 ___________Carmine Qualifying Widow 89,000 $12,490 ___________Family Rivas MFJ $139,000 $23,000 ___________Give typing answer with explanation and conclusion Based on the 2021 tax brackets, If Brian and his wife have a taxable income of $70,000 and they receive a $7200 child credit (because they have 2 children under the age of 5), what is their total income tax liability? a. $6280 b. $802 c. $21,000
- What is the amount of the tax liability for a single person having taxable income of $59,200? Use the appropriate Tax Tables and Tax Rate Schedules 2022 Note: All answers should be rounded to the nearest dollar. Multiple Choice $7,326. $7,147. $8,647. $6,696.Using the following table, calculate the taxes for an individual with taxable income of $25,800. 10% Up to $9,875 12% $9,876–$40,125 22% $40,126–$85,525 24% $85,526–$163,300 32% $163,301–$207,350 35% $207,351–$518,400 37% Over $518,401*adjusted gross income is $18,000* Determine your tax liability if you are filing single using the standard deduction of $12,000, have a child tax credit of $500, and have no other adjustments, deductions or credits.
