Carson Smart (married filing jointly) is paid $1,200 every two weeks plus a taxable lodging allowance of $100. He is a participant in the company 401(k) plan and has $150 deducted from his pay for his contribution to the plan. How much would be deducted from his pay for federal income tax (using the wage-bracket table)?   please use 2022 tax rates

Sherina Smith (Social Security number 785-23-9873) lives at 536 West Lapham Street, Milwaukee, WI 53204, and is self-employed for 2020. She estimates her required annual estimated income tax payment for 2020 to be $8,468. She was required to pay $254 when she timely filed her prior year tax return. Complete the first quarter voucher below for Sherina for 2020. Form1040-ESDepartment of the TreasuryInternal Revenue Service 2020 Estimated Tax Payment Voucher 1 OMB No. 1545-0074 File only if you are making a payment of estimated tax by check or money order. Mail this voucher with your check or money order payable to “United States Treasury.” Write your social security number and “2020 Form 1040-ES” on your check or money order. Do not send cash. Enclose, but do not staple or attach, your payment with this voucher. Calendar year—Due April 15, 2020 Amount of estimated tax you are paying by check or money order. Dollars Cents fill in the blank 1

n 2020, Juergen made after-tax contributions of $24,300 to his employer's qualified plan. In August 2021, he requested a nonperiodic distribution. At that time, his account balance was $78,000 and he received a one-time distribution of $13,000. How much of the distribution is tax-free?    $0  $4,050  $11,300  $13,000

Compute the amount of salaries tax payable (excluding provisional tax and tax reduction) by the taxpayer with the following data, if Mr. and Mrs. Ho elect joint assessments Assessment Year: 2020/21 Age: Mr. Ho: 44; Mrs. Ho: 40 Occupation: Mr. Ho: Certified Accountant & Mrs. Ho: Part-time Secretary Marital status: Married Child: Aged 10 Mr. Ho’s Parents: Aged 78 and 74 (both parents live with the taxpayer) Monthly salary: Mr. Ho: $72,000 & Mrs. Ho: $12,000 Donation: $50,000 cash MPF contributions: 5% mandatory Qualifying Annuity: Mr. Ho: $3,000 per month Home property: Current value at $8,500,000, purchased 5 years ago. Mortgage repayments: $17,325.00 per month. Mortgage interest: $100,378 paid during the assessment year.

Kyle Struck's filing status is single, and he has earned gross pay of $2,360. Each period he makes a 403(b) contribution of 8% of gross pay; and makes a contribution of 2% of gross pay to a cafeteria plan. His current year taxable earnings for Social Security tax and Medicare tax, to date, are $199,800.Social Security tax = $0.00Medicare tax = $ Please explain how the problem is solved?

Sophie is a single taxpayer. For the first payroll period in July 2022, she is paid wages of $1,100 semimonthly. Sophie claims one allowance on her pre-2020 Form W-4. Click here to access the withholding tables. IRS Publication 15-T, Federal Income Tax Withholding Method Pay period 2022 Allowance Amount Weekly $ 83 Biweekly 165 Semimonthly 179 Monthly 358 Quarterly 1,075 Semiannually 2,150 Annually 4,300 Round intermediate computations and your final answer to two decimal places. a. Use the percentage method to calculate the amount of Sophie's withholding for a semimonthly pay period. Sophie's withholding: $ 921 X

please explain in step to step on how to get this answer. answer is 95,259.00   Jason graduated in 2017 and landed a job after graduation in Orlando for Finance. If his taxable income for 2019 is $68000, how much federal income tax will he owe given the 2019 federal income tax brackets below? 15% on the first $47,630 of taxable income, plus 20.5% on the next $47,629 of taxable income (on the portion of taxable income over 47,630 up to $95,259), plus 26% on the next $52,408 of taxable income (on the portion of taxable income over $95,259 up to $147,667), plus 29% on the next $62,704 of taxable income (on the portion of taxable income over 147,667 up to $210,371), plus 33% of taxable income over $210,371

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[The following information applies to the questions displayed below.] In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in each of the following alternative circumstances? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for reference. Note: Input all values as positive. Leave no answer blank. Enter zero if applicable. Problem 8-59 Part a (Algo) a. Her AMT base is $111,000, all ordinary income. Description (1) AMT base (2) Dividends taxed at preferential rate (3) Tax on dividends (4) AMT base taxed at regular AMT rates (5) Tax on AMT base taxed at 26% rate (6) Tax on AMT base taxed at 28% rate Tentative minimum tax Amount

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