Father, mother, son and daughter are each 25% shareholders and father and mother wish to be redeemed in a complete redemption of their shares. a. What Code Section(s) apply? Give 3 most applicable. §____________ b. Briefly (one sentence each) list the 3 requirements for father and mother’s most desirable tax treatment.

Problem 2.  Scott Taxpayer is an Attorney who operates his own law firm. As a single-member LLC, Scott reports his firm operations as a sole proprietor. Scott has QBI from his law firm of $450,000, he reports paying W–2 wages of $140,000, and the unadjusted basis of property used in the LLC is $350,000. Scott is married and will file a joint tax return with his spouse.  Their taxable income before the QBI deduction is $425,000, including $20,000 of capital gains.  Determine the taxpayer’s QBI deduction for 2020

Question 13: Louisa is an employee of Maroon Corp. Louisa files as Married Filing Jointly on her tax return. Over what amount will Maroon Corp. begin to withhold the additional Medicare tax from her earnings? Answer: A. SO В. O $125.000 C. O $200,000 D. $250,000

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| Problem 1-16 Filing Status and Tax Computation, Qualifying Dependents (LO 1.5, 1.6) For each of the following taxpayers, indicate the filing status for the taxpayer(s) for 2022 using the following legend: A - Single B - Married filing a joint return C - Married filing separate returns Case a. b. C. d. e. D - Head of household E - Surviving spouse [qualifying widow(er)] Linda is single and she supports her mother (who has no income), including paying all the costs of her housing in an apartment across town. Frank is single and claims his unrelated significant other as a qualifying relative as the significant other lives in the home Frank pays for and the significant other has no income. Arthur is single and he supports his 30-year-old brother, who lives in his own home. Leslie's spouse died in 2022. She has no dependents and did not remarry. Lester's spouse died in 2021. He has one 17-year-old dependent child that lives with him in the home Lester pays for. Filing Status

If line 43 (taxable Income) Is- And you are- At least But less than Single Married Married Head filing jointly of a house- rafely hold filing sepa- Your tax is 65,000 65,000 65,050 12,600 65,050 65,100 12,613 65,100 65,150 12.625 65,150 65,200 12,638 65,200 65,250 12,650 65,250 65,300 65350 12,675 65,350 65,400 12,688 8,951 12,600 11.319 8,959 12,613 11,331 8,969 12,625 11,344 8,981 12,638 11,356 8,994 12,650 11,369 9,006 12,663 11,381 9,019 12,675 11,394 9,031 12,688 11,406 65,300 12,663 Alexis and Ashley are married, filing jointly. Their combined taxable income is $65,230. Every week, a total of $198 is withheld from their pay. Based on the table, what can Alexis and Ashley expect when their taxes are due? (1 Point) O They will receive a refund of $1,302 Thế will receive a refund of $8,994 O They will owe an additional $1,302

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Required information [The following information applies to the questions displayed below.] Lacy is a single taxpayer. In 2023, her taxable income is $52,800. What is her tax liability in each of the following alternative situations? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. c. Her $52,800 of taxable income includes $9,800 of qualified dividends. Tax liability