Monte Lion and Ella Funt are a married couple with two children. Wages totaled $141,600 with itemized deductions of $33,400. Interest income was $2,100. The couple sold stock for $32,000 which had been purchased three years earlier for $26,000. They also sold stock for $8,000 which had been purchased nine months earlier for $6,000. For the year, the couple has paid $19,500 in federal taxes. They are also eligible for a $1,000 tax credit. How large of a refund will they receive? $3015.00 $ 3762.50 $ 5172.00 $ 5684.00

George and Peggy Fulwider bought a house from Sally Sinclair for $225,500. In lieu of a 10% down payment, Ms. Sinclair accepted 5% down at the time of the sale and a promissory note from the Fulwiders for the remaining 5%, due in four years. The Fulwiders also agreed to make monthly interest payments to Ms. Sinclair at 10% interest until the note expires. The Fulwiders obtained a loan from their bank for the remaining 90% of the purchase price. The bank in turn paid the sellers the remaining 90% of the purchase price, less a sales commission of 6% of the purchase price, paid to the sellers' and the buyers' real estate agents. (d) Find the Fulwiders' monthly interest-only payment to Ms. Sinclair. (Round your answer to the nearest cent.)$ (e) Find Ms. Sinclair's total income from all aspects of the down payment (including the down payment, the amount borrowed under the promissory note, and the monthly payments required by the promissory note).$ (f) Find Ms. Sinclair's net income from the…

Bruce and Amanda are married during the tax year. Bruce is a botanist at Green Corporation. Bruce earns a salary of $56,000 per year. Green Corporation has an accountable reimbursement plan. During the year, Bruce has $5,000 of employee expenses. Green Corporation reimburses Bruce for only $4,000 of expenses.Bruce decides to put $5,500 into a Traditional IRA. Amanda owns a financial consulting firm as a sole proprietor (it qualifies as a full trade or business). Amanda generates $80,000 of revenues during the year. She has the following business payments associated with her firm:● Utilities: $2,000● Office Rent: $14,000● Self-Employment Tax: $5,000● Salary for her secretary: $20,000● Fines/Penalties: $8,000● Payroll Taxes (Employer Portion): $1,000● Business Meals: $2,000● Bribe to police officer to forgive parking violation $1,500Due to the income and expenses above, Amanda has $39,500 of Qualified Business Income. Also, during the year a tornado damaged the roof of their personal…

Janice earns $85,000 working as an administrative assistant in a public company based in New York. The company provides a matching contribution in the 401(k) plan of 50% up to a maximum contribution of 4% of compensation. Her 401(k) plan account had $20,000 in it at the beginning of the year. She contributed $5,000 to the plan this year and the employer made the matching contribution before year end. The ending balance of the account is $30,000. What is her return on her investments this year for the 401(k) account? A. 8.8%. B. 9.9%. C. 12.5%. D. 25%.