An individual earns $10,000 in eligible dividends during 2020. What is the amount of taxable income that must be reported as a result of this dividend? $0 $13,800 $12,500 $10,000
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- Determine from the tax table in Appendix A the amount of the income tax for each of the following taxpayers for 2019:During 2019, Carl (a single taxpayer) has a salary of $91,500 and interest income of $11,000. Calculate the maximum contribution Carl is allowed for an educational savings account. $0 $400 $1,000 $2,000 Some other amountHow much is the total income tax expense recorded for the year ended December 31, 2019? a. P246,000 b. P270,000 c. P540,000 d. P786,000
- How much is the income tax payable assuming the taxable year is 2021? a. 330,000 b. 775,000 c. 800,000 d. 3,180,000How much is the gross income under accrual basis? * A. 2019:P1,400,000; 2020: P1,200,000 B. 2019: P1,400,000; 2020: P1,720,000 C. 2019: P500,000; 2020: P720,000 D. 2019: P800,000; 2020: P920,000Which one of the following amounts represents the maximum amount that you may deduct for moving expenses on your 2020 personal income tax return? A) $ 8,800. B) $ 9,700. C) $10,200. D) $11,250.
- Marty has the following net § 1231 results for each of the years shown: Tax Year 2017 2018 2019 2020 Net § 1231 Loss $10,000 3,000 12,000 Net § 1231 Gain What would be the nature of the net gains in 2020? $29,000Assuming Carding uses the OSD, how much is the total income tax due on his income in 2021? a. 202,000 b. 246,000 c. 265,000 d. 268,000A single person has taxable income of $85,000 per year. She earns $1,800 in interest from a certificate of deposit. How much federal income tax expense will be calculated on these earnings? Tax year 2019. Deduction amount 12,200. Tax rate 24%
- 2023 TAXABLE INCOME FIRST $53,359 OVER $53,359 TO $106,717 OVER $106,717 TO $165,430 OVER $ $165,430 TO $237,675 OVER $235,675 FILL IN THE BLANK TAX RATE 15.00% 20.50% 26.00% 29.32% 33.00% C) The total income tax burden if your salary is $85,000. type your text here Based on the Canadian Federal Income Tax Brackets for 2023 shown above, calculate and input the numeric answers to the questions below. Round off your answers to the nearest dollar. Do not use $, decimals or comma. For example, instead of $23,486.52, write 23487. For answers requiring a tax rate, enter only the numeric value with two decimal places, with "%" symbol. For example, 20.50%).Compute the income tax due in 2021. A. 50,000B. 800,000C. 290,000D. 400,000In 2020, Mohamed receives the following income: Employment income of £ 80,000 Bank interest of £ 20,000 net of 20% tax suffered at source 9,000 net of 10% tax suffered at source What is Mohamed's taxable income for 2019, note that the personal allowance is £10,600, Dividends of £
