a. What is Nicole's after-tax benefit if she
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am.201.
![Required information
Problem 12-38 (LO 12-3) (Algo)
[The following information applies to the questions displayed below]
Nicole's employer, Poe Corporation, provides her with an automobile allowance of $36,000 every other year. Her marginal
tax rate is 32 percent. Answer the following questions relating to this fringe benefit
Problem 12-38 Parta (Algo)
a. What is Nicole's after-tax benefit if she receives the allowance this year?
After-tax benef
$ 11,520
Required information
Problem 12-38 (LO 12-3) (Algo)
[The following information applies to the questions displayed below]
Nicole's employer, Poe Corporation, provides her with an automobile allowance of $36.000 every other year Her marginal
tax rate is 32 percent. Answer the following questions relating to this fringe benefit.
Problem 12-38 Part b (Algo)
b. What is Poe's after-tax cost of providing the auto allowance?
Answer is complete but not entirely correct.
After-tax cost
$ 24,480](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F784bc175-30f0-46d1-b9e4-d468f16a735d%2F1e039fd5-3bf6-4ee7-8f64-ea78acf91497%2Fncy57ic_processed.jpeg&w=3840&q=75)
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- Nicole's employer, Poe Corporation, provides her with an automobile allowance of $30,000 every other year. Her marginal tax rate is 32 percent. Answer the following questions relating to this fringe benefit. Required: What is Nicole's after-tax benefit if she receives the allowance this year? What is Poe's after-tax cost of providing the auto allowance? Plz don't copy answer plz help i give up voteProblem 13-67 (LO 13-4) (Algo) (The following information applies to the questions displayed below.] In 2023, LeSean (age 54 and single) has earned income of $3,600. He also has $32,200 of unearned (capital gain) income. Problem 13-67 part a (Algo) a. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution LeSean can make in 20237 Maximum deductible IRA contributionUse the following information Molly has collect to help her determine her taxable income for the year: Salary from her job 115,100 Interest earn from 1,280 savings Interest paid on student loans Your Answer: Answer 905 Standard deduction 12,950 Itemized deductions 842 Child tax credit 2000
- Subject :- Accounting Required information [The following information applies to the questions displayed below.] Nicole's employer, Poe Corporation, provides her with an automobile allowance of $24,000 every other year. Her marginal tax rate is 32 percent. Answer the following questions relating to this fringe benefit. b. What is Poe's after-tax cost of providing the auto allowance? X Answer is complete but not entirely correct. wrong answers - $16,320 - $15,600 - $7,320Required information [The following information applies to the questions displayed below] Allie received a $50,000 distribution from her 401(k) account this year that she established while working for Big Stories, Incorporated. Assume that her marginal ordinary tax rate is 24 percent. c. Allie is 67 and retired. How much tax and penalty will Allie pay on the distribution? Tax and penalty 3Income Tax Credits (LO. 6) Refer to Exhibit 8-5 and 8A-1 SCHEDULE EIC (EARNED INCOME CREDIT) 2018 EARNED INCOME CREDIT TABLE to answer the following questions. Determine the total allowable 2018 earned income credit in each of the following situations: a. Rina is single and earns $6,800 in salary for the year. In addition, she receives $2,200 in unemployment compensation during the year. b. C. Lachlan is single with one dependent child. During the year, he earns $8,000 as a waiter and receives alimony of $10,000 and child support of $5,000. Zorica is a single parent with two dependent children. She earns $19,000 from her job as a mechanic. She also receives $3,000 in child support from her ex-husband. d. Elliot and Pam are married and have three dependent children. Elliot and Pam earn $12,000 and $9,000 from their jobs, respectively. They receive $800 in interest and $1,000 in dividend income. Assume the taxpayer files a joint return.
- 26.Gina receives a $2,900 distribution from her educational savings account. She uses $1,500 to pay for qualified higher education expenses and $1,400 on a vacation. Immediately prior to the distribution, Gina’s account balance is $5,000, $3,000 of which is her contributions. What is Gina’s taxable income (after any exclusion) from the distribution? $1,400 $560 $840 $0 27. Which of the following is correct for Qualified Tuition Programs (Section 529 plans)? Contributions are deductible, and qualified educational expense distributions are tax free. Contributions are not deductible, and qualified educational expense distributions are tax free. Contributions are deductible, and qualified educational expense distributions are taxable. Contributions are not deductible, and qualified educational expense distributions are taxable.Required information [The following information applies to the questions displayed below.] In 2023, Susan (44 years old) is a highly successful architect and is covered by an employee-sponsored plan. Her husband, Dan (47 years old), however, is a Ph.D. student and unemployed. Compute the maximum deductible IRA contribution for each spouse in the following alternative situations. Note: Leave no answers blank. Enter zero if applicable. a. Susan's salary and the couple's AGI before any IRA contribution deductions is $224,000. The couple files a joint tax return. Answer is complete but not entirely correct. Maximum deductible IRA contribution $ Susan 0 $ Dan 2,400Required information [The following information applies to the questions displayed below.] In 2023, Susan (44 years old) is a highly successful architect and is covered by an employee-sponsored plan. Her husband, Dan (47 years old), however, is a Ph.D. student and unemployed. Compute the maximum deductible IRA contribution for each spouse in the following alternative situations. Note: Leave no answers blank. Enter zero if applicable. d. Susan's salary and her AGI before the IRA contribution deduction is $85,000. Dan reports $5,000 of AGI before the IRA contribution deduction (earned income). The couple files separate tax returns. Maximum deductible IRA contribution Susan Dan
- 52. Subject : - Accounting Rachel receives employer provided health insurance. The employer's cost of the health insurance is $6,100 annually. What is her employer's after-tax cost of providing the health insurance, assuming that the employer's marginal tax rate is 21 percent and is profitable?What is the amount of self-employment tax that would be paid by Andy for the year assuming he earned $128,100 while working as an employee of the University and another S20,000 from a sales business he owns? Select one: a. S1,190.40 b. S1,726.03 C. $535.63 d. $2,825.91 e. None of theseRequired information [The following information applies to the questions displayed below.] William is a single writer (age 35) who recently decided that he needs to save more for retirement. His 2021 AGI before the IRA contribution deduction is $67,000 (all earned income). (Leave no answer blank. Enter zero if applicable.) b. If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2021? Maximum deductible IRA contribution
