taxpayers does not have to file a tax return

Q: Naomi uses the filing status of Single for 2021. Her taxable income is $612.353, which includes…

A: Question 1 For 2021 When single tax payers  As total taxalable income is  Then qualified dividend…

Q: had, a single taxpayer, has taxable income before the QBI deduction of $186,500. Thad, a CPA,…

A: Qualified business income (QBI) can be determined by subtracting wage (W-2) income, annuity…

Q: The taxpayer is a resident citizen who is married. The spouse had a gross compensation income of…

A: Gross compensation income It  is the  taxable income, that is  arising from an employer/employee…

Q: Angelena files as a head of household. In 2019, she reported $53,450 of taxable income, including a…

A: Step 1 The taxable regular income is $43,450. It is obtained by subtracting the dividend with a…

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

A: As of the year 2021, the self-employment tax rate is 15.3% consisting of 12.4% of social security…

Q: If Emily earns wages of $26,000 for 2020, calculate the total amount of the FICA tax that must be…

A: Payroll taxes The employer is required to pay a certain percentage to the government on the behalf…

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

A: Greater of standard deduction and itemized deduction will be used for tax benefit. Standard…

Q: For the following taxpayers determine which one is not required to file a tax return in 2018. a.…

A: Return filing Status: It is the status given to the taxpayers for determining their threshold for…

Q: tina, who is single. Adrian and Carol, who are filing a joint return. Their son is blind. Peter and…

A: Standard deduction refers to that section of the income of an entity that is not subject to tax and…

Q: Using the tax table in Exhibit 4-6, determine the amount of taxes for the following situations:…

A: Table used:

Q: For each of the following situations, indicate whether the taxpayer(s) is (are) required to file a…

A: Monica received $ 500 as unreported tip and owes Social Security taxes on these tips. Total income…

Q: Corine is filing as head of household and has 2020 taxable income of $35,000 which includes $23.000…

A: Taxable income refers to the base income on which the tax is imposed and it involves all the income…

Q: the 2 questions below are wrong can youble check them plaese  For Addison's filing status, the…

A: Here discuss about the details of calculation of total amount of taxable income with the net tax due…

Q: Should this person file for a standard deduction or itemized deduction? They are filing MFJ for the…

A: For 2020 Tax Year, Standard Deduction for 2020 Tax Year => $ 24,800 Itemized Deductions are…

Q: Use the 2016 marginal tax rates to compute the tax owed by the following couple. A married couple…

A: A tax liability seems to be a payment owing to a federal, state, or municipal tax body by a person,…

Q: Mark files as a head of household in 2020 and has taxable income of $130,000, including the sale of…

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

Q: Taylor, a single taxpayer, has taxable income before the QBI deduction of $193,300 in 2020.  Taylor,…

A: Taxable income:-These is that income that is liable for tax payment after providing deductions as…

Q: Each of the following taxpayers received a state income tax refund in 2020. In all cases, the…

A: While making the taxation there is standard / itemized deduction which are allowed for the total…

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

A: The federal government or taxing authority levies taxes on the different entities is known as…

Q: A married couple made the following tax payments in 2020. Property tax on real estate $7,000 State…

A: Tax deduction is the deduction that lowers the tax liability of an individual or a married couple.

Q: Compute the 2019 tax liability and the marginal and average tax rates for the following taxpayers…

A: Tax liability seems to be the sum of money owed to tax authorities within the manner of tax debt.…

Q: Assuming they all meet the income requirements, which of the following taxpayers qualify for the…

A: The earned-income credit (EIC) is a refundable tax credit that is intended to augment low-income…

Q: Use the 2016 marginal tax rates to compute the tax owed by the following couple. A married couple…

A: Calculate the tax liability for 2016 on Taxable income of $357,000 if the individuals filing the tax…

Q: Use the 2015 tax table to find the income tax for a taxpayer with taxable income of $25,156 filing…

A: Income tax is the tax imposed on the income earned by the individual or entities. In following…

Q: Jorge Gomez is a single taxpayer. His SSN is 412-34-5670, and he lives at 5037 Circle Court,…

A: 1040 for a Single taxpayer with no dependents 1040 PG 1 1040 PG 2 Schedule 1 Schedule B Schedule…

Q: In 2021, Sonny earns $47,900 and is unemployed for $10,000. What is Sonny's taxable income if he…

A: As per Income tax act 1961 (endian no any other detail given for other country tax that why)

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

A:

Q: A)If a married couple files separate returns, both must claim the standard deduction (rather than…

A: Standard deduction is a fixed amount that reduces the taxable income . The standard deduction amount…

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

A: Income given           $56,120  Less: Adjustments to Income as           - $1,760…

Q: is she required to file a tax return

A: Given: Helen, a single taxpayer, earns an interest income of $ 8750.

Q: Alicia, age 27, is a single, full-time college student. She earns $13,200 from a part-time job and…

A: Taxable income is money earned that is subject to taxes by federal or state authorities. Wages,…

Q: If during the year, a taxpayer voluntarily opted to pay VAT even though his sales and receipts are…

A: A taxpayer voluntarily opted to pay VAT even though his sales and receipts are not expected to…

Q: 1. Meredith owns her own business. In 2020, she had business revenue of $268,450 and business…

A: Self employment tax is defined as the tax imposed that the small business owner need to pay to the…

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: In 2019, Miranda records net earnings from self-employment of $146,000. She has no other income.…

A: The profitability of the company can be arrived from the income statement prepared by the management…

Q: Determine the amount of the standard deduction allowed for 2021 in the following independent…

A: Taxpayer is the person who is responsible for payment of taxes to the government. Government allows…

Q: Using the standard deduction table above, complete the following table (in $). Name Filing Status…

A: Income=$56,320 standard deduction =$24,000

Q: Juanita is a single and is self-employed. Juanita owed $1,300 in taxes on her 2019 return and…

A: Answer with explanation are as follows.

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: 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: nnie, age 70 and single, is claimed as a dependent on her daughter's tax return. During 2021, she…

A: Taxable Income = Gross Income - Deductions

Q: , Martin had two employers during the year. Both employers withheld Social Security tax from his…

A: When an employee has social security tax which is more or RRCT tier 1 withheld , they can claim the…

Q: Taylor, a single taxpayer, has taxable income before the QBI deduction of $194,900 in 2021. Taylor,…

A:

Q: Calculate the total 2017 tax liability for a surviving spouse with one dependent child with a gross…

A: Tax Liability: It is total  amount of money due to tax authorities in the form of tax debt.

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: Using the appropriate tax tables or tax rate schedules, determine the amount of tax liability in…

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

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.