etermine the Income Taxes Responsibility for this taxpayers, remember to present procedure in any taxpayer.
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Determine the Income Taxes Responsibility for this taxpayers, remember to present procedure in any taxpayer.
Taxpayer(s) Filing Status Income Itemized Deductions income Taxes Liability
Arturo Single $29,239 $2,000 ___________
Belize HOH $53,129 $14,500 ___________
Carmine Qualifying Widow 89,000 $12,490 ___________
Family Rivas MFJ $139,000 $23,000 ___________
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- Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer. Name Filing Status Taxable Income Tax Liability Rua head of household $165,400 $ %24Question A Determining a Refund or Taxes Owed. Based on the following data, will Ann Wilton receive a federal tax refund or owe additional taxes in2019? LO2Net income, $48,190Deductions to determine net income, $11,420Federal income tax withheld, $6,784Total non-refundable tax credit amounts, excluding medical expenses, $12,069Medical expenses, $2,300 Don't work in Excel Full explainthe this question very fast solution sent me step by step Don't ignore any part all part work u Text typing work only not allow paper workUse the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer. Name Filing Status Taxable Income Tax Liability Williams single $65,200 $
- *adjusted gross income is $18,000* Determine your tax liability if you file as head of household using the $18,000 deduction and have no adjustments, itemized deductions, or tax credits.Compute the income tax payable, if any. PURELY SELF-EMPLOYED INDIVIDUALS WHO AVAILED 8% Relevant information: YOU are engaged solely in the business of selling goods and merchandise in TY 2021. In compliance with the existing rules in doing business, you applied for your TIN where your home BIR RDO (select the BIR which has jurisdiction over the place of your residence) assigned you Taxpayer Identification No. 123-456-789-0000. Additional information: For the year 2021, you chose 8% tax rate Your financial records showed the following: Gross Sales – Php2,000,000 Cost of Sales – Php 1,000,000 Expenses – Salaries and wages of staff – Php 360,000 Depreciation of car used in delivery – Php 100,000 Representation expense – Php 10,000 Office Rent expense – Php 360,000 Rent expense on your condominium – Php – 240,000 Utilities in office – Php 120,000 Electricity expenses in condominium – Php 60,000 Registration fees of delivery car and other taxes – Php 5,000 Gas and oil – Php 120,000…Franklin Stewart arrived at the following tax information: Gross salary Interest earnings Eligible dividend income Basic personal amount Union dues Moving expense (58 km for employment) $ 52,00€ 330 128 3,650 8,470 2,950 What amount will Franklin report as taxable income? (Round your answer to the nearest dollar amount. Omit the "S" sign in your response) Taxable income
- -S Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $58,000. Tax amount b. A single person with taxable income of $36,200. Tax amount c. Married taxpayers filing jointly with taxable income of $72,600. Tax amountFranklin Stewart arrived at the following tax information: Gross salary Interest earnings Eligible dividend income Basic personal amount Union dues Moving expense (50 km for employment) $ 47,780 225 100 12,069 3,890 1,150 What amount will Franklin report as taxable income? (Round your answer your response.) Taxable income $Using the information provided, determine the taxpayer's tax liability. Filing status Married filing jointly Gross income: Compensation income $235,000 For AGI deductions None From AGI deductions: Itemized deductions $23,000 Qualified business income deduction None Type your answer.
- K Use the 2021 marginal tax rates to compute the income tax owed by the following couple. Filing status: married filing jointly Gross income: $153,000 Adjustments: $21,500 Deductions: $4590 state taxes $10,700 mortgage interest $5400 property taxes $16,500 charitable contributions Tax credit: $7400 Click the icon to view the 2021 marginal tax rates The income tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)only typed answer You and your spouse have earned salary and wages of $41,750. In addition, you have corporate bond interest income of $600 and savings account and certificate of deposit interest income of $800. Using only this information, what is your adjusted gross income for tax purposes?Use the following information and the flow chart from the module to calculate: Adjusted gross income ( AGI) Taxable income Show your work for each calculation to receive full credit. An individual has the following information for the current tax year. Assume they do not itemize and they file as head of household. Income from wages, $80,000 Interest earned on savings, $150 IRA contribution, $5,000 Checking account interest earned, $75 Standard deduction for Head of Household: $20,800 Child and Dependent Care Tax credit, $3,000 Filing status: Head of Household
