Mattola Company is giving each of its employees a holiday bonus of $100 on December 13, 20-- (a nonpayday). The company wants each employee's check to be $100. The supplemental tax percent is used. Nobody has capped for OASDI prior to the bonus check. As we go to press, the federal income tax rates for 2023 are being determined by budget talks in Washington, and are not available for publication. For this edition, the 2022 federal income tax tables for Manual Systems with Forms W-4 from 2020 or Later with Standard Withholding and 2022 FICA rates have been used. a. What will be the gross amount of each bonus if each employee pays a state income tax of 2.8% (in addition to the other payroll taxes)? You may need to add one penny to the gross so that net bonus is exactly $100.00. Round your calculations and final answers to the nearest cent. b. What would the net amount of each bonus check be if the company did not gross-up the bonus? Round your intermediary calculations to the nearest cent.

Sean and Jenny own a home in Boulder City, Nevada, near Lake Mead. During the year, they rented the house for 40 days for $3,200 and used it for personal use for 18 days. The house remained vacant for the remainder of the year. The expenses for the house included $14,150 in mortgage interest, $3,560 in property taxes, $1,200 in utilities, $1,340 in maintenance, and $11,000 in depreciation. What is the deductible net loss for the rental of their home (without considering the passive loss limitation)? Use the Tax Court method for allocation of expenses.

FV(Quar.) = $100(1.03)20 = $

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