Lucas, a single U.S. citizen, works in Denmark for MNC Corp during all of 2019. His MNC salary is $87,000. Lucas may exclude from his gross income wages of:a. $0b. $40,000c. $87,000d. $105,900

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

Fred currently earns $10,100 per month. Fred has been offered the chance to transfer for three to five years to an overseas affiliate. His employer is willing to pay Fred $11,100 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $112,000. Required: a-1. How much U.S. gross income will Fred report if he accepts the assignment abroad on January 1 of next year and works overseas for the entire year? a-2. If Fred's employer also provides him free housing abroad (cost of $21,100), how much of the $21,100 is excludable from Fred's income? b. Suppose that Fred's employer has offered Fred a six-month overseas assignment beginning on January 1 of next year. How much U.S. gross income will Fred report next year if he accepts the six-month assignment abroad and returns home on July 1 of next year? c-1. Suppose that Fred's employer offers Fred a permanent overseas assignment beginning on March 1 of next year. How much U.S. gross income…

oseph works for Northwest Gaskets in Alberta. He earns $33,800.00 per year and is paid biweekly. His TD1 federal and provincial claim codes are 3. In March 2020, Joseph receives a production bonus for meeting his 2019 targets. The bonus of $4, 940.00 is paid separately from his regular pay. Calculate the income tax on Joseph's bonus payment.

Fred currently earns $10,700 per month. Fred has been offered the chance to transfer for three to five years to an overseas affiliate. His employer is willing to pay Fred $13,700 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $120,000. c-2. If Fred's employer also provides him free housing abroad (cost of $20,850 next year), how much of the $20,850 is excludable from Fred's income? Assume that Fred will be abroad for 305 days out of 365 days next year. Note: Round your intermediate calculations and final answer to the nearest whole dollar amount.

Please explain proper steps by Step and Do Not Give Solution In Image Format ? And Fast Answering Please ?

Of the following individuals, who is most likely to be considered a part-year resident of Canada for the current taxation year? Helga had lived and worked in Canada for 10 years. She was transferred by her employer to its flagship hotel in Switzerland on March 1 of the current year for a 1 year training assignment. Her husband remained in Canada to complete his MBA. Ravi is a citizen of India, where he was born and lived until moving to Canada on March 1 of the current year with his wife and child. He was transferred by his employer to its Canadian head office. Billy Bob is a U.S. Marshall on loan to the RCMP detachment in Nunavut. It is a 9 month assignment. Marc is a French citizen who lives in Paris. On March 1 of the current year he begins work as a translator in Ottawa. It is a 1 year assignment.

Fred currently earns $10,400 per month. Fred has been offered the chance to transfer for three to five years to an overseas affiliate. His employer is willing to pay Fred $11,400 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $112,000. - If Fred’s employer also provided him free housing abroad (cost of $21,400), how much of the $21,400 is excludable from Fred’s income?

Beam Hines is a translator who works for a consulting firm in Mississauga. Her 2020 salary is $73,500, from which her employer, a Canadian controlled private company, deducts maximum CPP and EI contributions. Also deducted is an RPP contribution of $2,600. The employer makes a matching contribution ($2,600). Her employment compensation does not include any commission income. Other Information:1. To reward Beam for her outstanding work, and as an incentive to stay with the company, her employer has awarded her a bonus of $10,000 that will be paid in August 2021. 2. Beam received options to purchase 200 shares of her employer’s stock at a price of $72 per share last year. At the time the options were granted, the fair market value of the shares was $74 per share. During May 2020, when the shares had a fair market value of $90 per share, Beam exercises all of these options. She is still holding these shares at the end of the year. (Note: please mention the result of stock options benefit…

An employer in The U.S. Virgin Islands employs two individuals, whose taxable earnings to date (prior to the current pay period) are $8,500, and $3,400. During the current pay period, these employees earn $870 and $525, respectively. FUTA tax = $ What is the FUTA tax? The FUTA rate is for year 2022 The FUTA rate for this problem is 0.042%