Michele Walsh is considering an additional charitable contribution of $4,200 to a tax-deductible charity, bringing her total itemized deductions to $12,500. If Michele is single, is in a 35 percent tax bracket, and is not subject to a phase out of deductions, how much will this $4,200 contribution reduce her taxes? (Round your answer to the nearest whole number.) Multiple Choice $1,595 $4,375 $4,200 $1,470 $0

Which one of the following costs is most likely NOT fully deductible? Group of answer choices Jose, a local business owner, pays $30,000 in Self-Employment taxes. Sandra owns a mini golf course. She pays her employer portion of payroll taxes because of her employees, which totals to $12,000. Travis owns a CPA firm and pays his son Joe as an associate. Joe is a CPA and is paid the same salary as the other associates. X-Corp writes off a $12,000 business debt owed by Sam because he has not responded to their numerous requests for payment.

Nicole is a student at USB Law School; she receives a $52,000 scholarship for 2018. Of the $52,000, $40,000 is used for tuition, $5,000 is used for books, and $7,000 is used for room and board. How much of the scholarship is excluded from taxable income for Nicole in 2018? Select one: a. $52,000 b. $47,000 c. $7,000 d. $5,000 e. $45,000

Question 8 of 75. Linda, age 54, takes a $12,500 distribution from her traditional IRA. She uses the distribution to pay qualified education expenses for her husband's grandson, Noah. Noah is attending a state university, and his tuition expenses alone were more than $20,000 in 2022. Neither Linda nor her husband will claim him as a dependent. How much of Linda's distribution is subject to the 10% additional tax on early distributions? $0 $2,500 $10,000 $12,500

None

If the executor needs to pay a debt at the time of a decedent's death, which of the following options will cost the least?     Use the decedent's cash     Sell something     Borrow money     Special IRS extension provisions     Life insurance   If your estate has to pay an estate tax, what is the tax rate?     40% of the unified credit.     40% of the equivalent exemption.     The amount of the unified credit in the year of death     40%.

Subject: acounting

John and Charlotte are considering contributing $1,000 to their church. This contribution will bring their total itemized deductions to $2,000. Assuming the standard deduction is $10.000 per person and they are in the 15% marginal tax bracket, how much will they save in taxes by contributing this $1,000 to their church? Type your answer here

Rosa is in the 35% tax bracket and itemizes her deductions. How much will her tax bill be reduced if she makes a $800 contribution to​ charity?  Her tax bill will be reduced by ​$enter your response here. ​(Simplify your​ answer.)

Vishnu