Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2022. During that time, he earned $58,000 of self-employment income. On April 1, 2022, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle Incorporated From April through the end of the year, Kyle earned $172,000 in salary. What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year?

Rachel is a part-time sales associate for Bob Ridings Chevrolet. She works on commission. On December 25, 2022, Rachel received $15,500 of income from commissions, plus an advance of $1,500 on future commissions. She also received a $1,350 check for expense reimbursements from her employer after turning in her receipts as part of her employer’s tuition reimbursement plan. How much taxable income should Rachel report on her 2022 return?

Jack is a commission salesperson. Jack is required to pay his own expenses and does not receive an allowance from his employer. During the year his gross salary was $60,000 and he received $20,000 in commissions. He incurred and paid the following expenses earning the income: Description Advertising Client entertainment Travel Costs Amount $10,000 11,000 10,000 What is Jack's maximum employment expense deduction under section 8 for 2022? Do not use commas or dollar signs. A/ What is Jack's maximum employment expense deduction under section 8 for 2022, if Jack does not receive commission income?

Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2023. During that time, he earned $74,000 of self-employment income. On April 1, 2023, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle Incorporated From April through the end of the year, Kyle earned $168,000 in salary. What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year? Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Self-employment/FICA tax

Mr. Joplin sells a line of computer software for a company in Western Canada. In 2023, he was paid a base salary of $56,000 and received sales commissions of $88,200. He did not receive an allowance, nor was he reimbursed by his employer for any of his expenses. During the year, Mr. Joplin has the following employment-related expenses. View the expenses. View the additional information. Required Determine Mr. Joplin's employment income for 2023. Ignore all GST/HST and PST implications. k First, calculate the deductible CCA on the automobile used by Mr. Joplin. Enter the employment-related usage proportion as a percentage. Full capital cost allowance Employment-related usage proportion Deductible CCA on automobile Expenses Airline tickets Office supplies and shipping expenses Purchase of laptop computer Client entertainment Cost of new automobile (not zero-emission) Operating expenses of automobile $ 2,380 420 2,095 1,770 47,000 10,700 C X Additional Information Assume that $390 of the…

Rick is employed by UT. In 2023 UT withheld $7,650 of payroll taxes from Rick's salary. What is the total combined employee and employer payroll tax that UT will be required to remit to the U.S. Treasury Department in 2023 as a result of employing Rick?   Hint: The correct answer should be $15,300

Mahmet earned wages of $148,800 during 2022. Mahmet qualifies to file as head of household and claims two dependents under the age of 17. How much FICA tax is Mahmet's employer responsible to remit in 2022? Multiple Choice   $21,935.40.   $21,123.20.   $22,543.20

Ali and Alex Arnaud are married with no dependent children. Ali worked for Smart Tech Corporation January through March and for Computer Associates the remainder of the year. Alex completed a degree in November and immediately began as an associate with Smith and Weber. They report the following information for 2022. Use Individual Tax Rate Schedules and Standard Deduction Table.Alis salary from Smart Tech$ 32,000Alis salary from Computer Associates 142, 000Alex's salary from Smith and Weber15, 550 Interest from savings account700ltemized deductions9, 000Dividends eligible for 15% rate2, 200 Required:Compute AGI.Compute taxable income.Compute net tax liability (after credits).

Morgan is paid $2,849.50 per week. What is the amount of federal income tax withheld from Morgan's paycheck under the following conditions? Assume that Morgan has only one job or that step 2 of Form W-4 is not checked. Also, her employer uses the Percentage Method Tables for Automated Systems. Use percentage method tables for automated systems. Required: a. Morgan is single and no dependents b. Morgan is married (spouse does not work) and claims two dependents who are under the age of 17 c. Morgan is single, claims no dependents, but wants $70 in additional withholding Note: For all requirements, round your intermediate computations and final answers to 2 decimal places. Amount a. Federal income tax withholdings b. Federal income tax withholdings c Federal income tax withholdings

An employee works 47 hours (47 - 40 were overtime hours) during a workweek in October of 2023. The employee earns $46/hour, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $1163,050 during the present year. He has requested that his employer withhold 7% of gross pay, which is to be contributed to a 401(k) plan. Taxable income for federal income tax withholding = $ Taxable income for social security tax = $ Taxable income for medicare tax = $