Victoria Bassett is from you Claire Wisconsin and she has $61,000 gross income in 2016 what amount of taxes on gross income will she pay.

Q: 2. In 2016, the maximum taxable income for Social Security was S118,500 and the tax rate was 6.2%.…

A: The federal government uses Social Security levies to pay Social Security payments. Social Security…

Q: a. What is the minimum amount of income Stephanie should recognize for tax purposes this year if she…

A: Accrual Method of Accounting means that revenue should be recognized when it is earned but not when…

Q: Used the 2016 FICA tax rates from below to answer the following question. if a taxpayer is not…

A: Using 2016 FICA tax rates:Tax rate is:7.65% on first $118500 of Income1.45% on Income in excess of…

Q: In 2015, Fred and Elizabeth, who are married and filing jointly, received $29,000 in social security…

A: For married and filing jointly taxpayers, the tax slab rate for $36,000 (AGI) is $1,845 + 15% of…

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.

Q: Teresa is getting ready to do her taxes. She is single and lives in San Francisco. Teresa earned…

A: Federal Income tax: Federal income tax is a tax on income and is imposed by the United State federal…

Q: Leena's marginal federal tax rate is 28%. She lives in a province where her provincial marginal tax…

A: Dividend Tax credit :                In various provinces of Canada, the tax paid by the taxpayers…

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: Phil Cousteau is an accountant. Phil is 47 years old and is married to Claire who is 45 years old.…

A: Tax refers to the compulsory charge levied by the government over the money gained by an entity.

Q: Use the 2016 marginal tax rates to compute the tax owed by the following person. A single woman with…

A: Here in this question, we are required to calculated tax owed. For calculating that, we will go slab…

Q: Jennifer made $74,900 last year. She pays 6% state income tax, 15% federal income tax, 6.2% for…

A: Gross monthly income is the amount that is paid by an employer to the employee monthly before…

Q: Tony, age 15, is claimed as a dependent by his grandmother. During 2016, Tony had interest income…

A: Given: Interest income = $ 1,000 Earnings from part-time job = $ 850

Q: Ms. Nelson is a single mom with three children who live at home. She earned less than $40,000 in…

A: Ms. Nelson earned in 2018 ⩽$40,000. Ms. Nelson is a single mom with three children.

Q: Your adjusted gross income is $9,438. If you are single, how much tax do you owe?

A: Tax is the charge which is to be paid to the government on having the income above the income…

Q: Jean Dixon and her spouse, Roger have 2020 medical expenses which totaled $4,340. While Jean has net…

A: Medical tax credit refers to the eligible deductions which are unreimbursed medical expenses that…

Q: Skylar is single and earns $410,000 in salary during 2018. What is the amount of 0.9 percent…

A: Employers are required to withhold additional Medicare tax, above the 1.45% Medicare tax rate, at a…

Q: John Adams has a $95,000 adjusted gross income from Apple Corp. and allowable itemized deductions of…

A: The tax payable by J as unmarried individuals is as follows: Resultant table:

Q: Steve and Claire are married, and both lived and worked in North Carolina for the entire 2013 tax…

A: Taxable income= Adjusted gross income-Standard deduction-Exemption=$80,000-$6,000-$2,500×2=$69,000

Q: A couple with four dependent children has an annual AGI of $179,000. Calculate the total dollar…

A: A personal exemption is an amount for which one could deduct as tax exemption against the personal…

Q: What is her tax due liability in her 1st quarter return?

A: 1. An individual who has an income source purely from self-employment and their turnover of gross…

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…

Q: Janet is getting ready to do her taxes. She is single and lives in Denver. Janet earned $110,000 in…

A: Given: Janet is getting ready to do her taxes. The earning includes $110,000 in 2015. The IRS tax is…

Q: Jill lived and worked in North Carolina for the entire 2013 tax year. Her adjusted gross income was…

A: Taxable income: It specifies the basis on which the income system sets the tax. In other words, the…

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.…

Q: Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 in interest from an…

A: The effective tax rate is a % of tax paid to income earned. The average rate of tax is a % of tax…

Q: Marisa is 16 years old and a dependent of her parents.  She earned $5,000 of income from wages…

A: Kid’s tax: The tax cuts and jobs act made some significant changes in the way a child’s income is…

Q: Marco Leopizzi earns £45,000 in tax year 2021-22. He also received bonus of £20,000 in a year, house…

A: Introduction:- Marco Leopizzi will be paid £45,000 in the fiscal year 2021-22. He also earned a…

Q: Rose works as a quality in-charge in an equipment manufacturing firm in the UK. During the tax year…

A: Tax liability is the dutiful debt you owe to the government from the amount of money of an…

Q: Arno and Bridgette are married and have combined W-2 income of $78,917. They paid $389 when they…

A: Given information: A and B are filing married jointly return.Income as per W-2 - $78,917Taxes paid…

Q: Joseph graduates from High School and enrolls in college in the Fall. Her parents pay $4,000 for his…

A: American opportunity tax credit The american opportunity tax credit (AOTC) is a reduction that…

Q: armen owns a cornershop. During the 2020 tax year, Carmen bought trading stock worth $77,000 and…

A: Trading Stock bought   $          77,000 Trading Stock Sold   $        125,000 All Items…

Q: Jill lived and worked in North Carolina for the entire 2013 tax year. Her adjusted gross income was…

A: Taxable income: It is the gross total income on which the taxes are imposed by the government for a…

Q: In 2020, Courtney, 16 and a dependent of her mother, had earned income of $4,000 and interest income…

A: Federal income tax liability is the tax on the earned income that is to be paid to the federal…

Q: tax liability, marginal tax rate, and average tax rate

A: Taxable income $45,000 Tax rate on first $9,525 10% Tax rate on $9,525 to $38,700 12% Tax rate…

Q: If Ana chose to be taxed at an 8 percent rate, how much is her overall income tax? (based on the…

A: SOLUTION- COMPUTATION OF TAX DUE -   GROSS SALES  2800000 LESS- TAX EXEMPT INCOME (250000)…

Q: Ms. Anna Frozen operates an ice cream store while she offers bookkeeping services to her clients. In…

A: "Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Rasheed works for Company A, earning $360,000 in salary during 2020. Assuming he is single and has…

A: Federal Insurance Contribution Act (FICA) is a tax levied un US taxable persons for social security…

Q: Mr. Lebron is a mixed income earner. In year 2020, he earned gross compensation income of…

A: As per the Graduated tax table of philippines if any person who is employed and have business income…

Q: Mr. Juan Dela Cruz operates a mini bakeshop while he offers cleaning services to his clients. In…

A:

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…

Q: Ann's average income tax rate is 30%, and her marginal income tax rate is 37%. Her property tax bill…

A: Solution:- Given, Average tax rate = 30% Marginal tax rate = 37% Tax bill = 12,000 Interest payment…

Q: Calculate the amounto of self -employment tax that Aaron will be required to pay for the tax year…

A: Sepf employment tax rate 2020 = 15.3% Income = 345000-150000= 195000

Q: Campbell, a single taxpayer, earns $428,000 in taxable income and $3,400 in interest from an…

A: The tax liability of a taxpayer depends upon the taxable income and the filing status. The tax…

Q: 1. Ms. Anna Frozen operates an ice cream store while she offers bookkeeping services to her clients.…

A: Answer:-  Tax Liability:- Tax liability can be defined as the payment owing to a union, state, or…