a.   Mark is single with no dependents and has a taxable income of $62,600. He has $9,500 withheld from his salary for the year.         b.   Harry and Linda are married and have taxable income of $62,600. Harry has $5,270 withheld from his salary. Linda makes estimated tax payments totaling $2,600.         c.   Aspra is single. His 20-year-old son, Calvin, lives with him throughout the year. Calvin pays for less than one-half of his support and his earned income for the year is $2,980. Aspra pays all costs of maintaining the household. His taxable income is $62,600. Aspra’s withholdings total $8,300.

Karen is single. Last year she earned $36,300 in wages. Additional tax information for the year is as follows:interest earned: $125; capital gains from sale of stock: $1,650; penalty on early withdrawal of savings: $300;contributions to Keogh retirement fund: $1,900; real estate taxes paid: $3,000; mortgage interest paid: $3,100.Find the taxable income for the year.  Group of answer choices $26,075 $35,275 $29,175 $37,475

Rasheed works for Company A, earning $404,000 in salary during 2020. Assuming he is single and has no other sources of income, what amount of FICA tax will Rasheed pay for the year? (Round your intermediate and final answer to the nearest whole dollar amount.) Amount of FICA tax

Ee.8.

Compute the additional Medicare tax for the following taxpayers. If required, round your answers to the nearest dollar. a. Mario, who is single, earns wages of $450,600. His additional Medicare tax is $ b. George and Shirley are married and file a joint return. During the year, George earns wages of $242,300, and Shirley earns wages of $363,450. Their additional Medicare tax is $ c. Simon has net investment income of $54,360 and MAGI of $271,800 and files as a single taxpayer. Simon's additional Medicare tax is $

Gadubhai

Rachel is single and has wages of $175,550 and dividend income of $105,330. She has no investment expenses. Calculate the amount of the 3.8 percent net investment income tax she must pay. Round your answer to the nearest whole dollar.

Melody and Todd are married and have employee wages of $250,000 each in 2019. They have no other income. How much additional 0.9% Medicare tax will Melody and Todd have to pay or receive as a refund when they file their 2019 income tax return? a.$1,350 will be refunded with their return. b.$900 will be refunded with their return. c.$1,350 will be due with their return in addition to amounts withheld. d.$3,600 will be due with their return in addition to amounts withheld.

This year Lloyd, a single taxpayer, estimates that his tax liability will be $13,000. Last year, his total tax liability was $17,0 He estimates that his tax withholding from his employer will be $9,700. Required: a. How much does Lloyd need to increase his withholding by (for the year), in order to avoid the underpayment penalty b. Assuming Lloyd does not make any additional payments, what is the amount of his underpayment penalty? Assume short-term rate is 5 percent. Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Complete this question by entering your answers in the tabs below. Required A Required B Assuming Lloyd does not make any additional payments, what is the amount of his underpayment penalty? Assume the federal short-term rate is 5 percent. Note: Do not round intermediate calculations. Round your final answers to 2 decimal places. Required Withholding Penalty Per Quarter Dates April 15th June 15th September 15th January 15th Total…

Susan and Stan Britton are a married couple who file a joint income tax return, where the tax rates are based on the tax table 3.5. Assume that their taxable income this year was $320,000. Do not round Intermediate calculation. a. What is their federal tax liability? Round your answer to the nearest dollar. $ b. What is their marginal tax rate? Round your answer to the nearest whole number. % c. What is their average tax rate? Round your answer to two decimal places. %