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PSa 5-9 Calculate Self-Employment Tax For each of the following individuals, calculate the applicable self-employment tax. Assume that each individual files tax returns under Single status.NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.   1:Annabelle Jefferson earns net self-employment income of $68,400. She does not work a second job.Self-Employment tax =  2:Alexander Ryan earns net self-employment income of $117,800. He works a second job from which he receives FICA taxable earnings of $55,300.Self-Employment tax =  3:Morgan Cruise earns net self-employment income of $223,400. She works a second job from which she receives FICA taxable earnings of $114,200.00.Self-Employment tax =

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Hello I’m using Cengage chapter 11  What is the social tax deduction on a gross pay of 720 dolars.    Also do you provide entire answer keys ?

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Section 12.2 Assessment QUICK CHECK Calculate Given the informa- tion above, use Form 1040EZ in Figure 12.4 on pages 394 and 395 and the corresponding tax table in Figure 12.5 on page 397 to determine whether Shirley will owe the government money or will obtain a refund. How much money will she owe, 1. Who must file a federal income tax return? 2. What are the three basic tax forms discussed in this section? 3. What documents do you need to begin to prepare your tax return? THINK CRITICALLY or how much will her refund be? 4. Briefly describe situations in which it would be advantageous to use Form 1040A instead of Form 1040EZ. When would you use Form 1040EZ? SOLVE MONEY PROBLEMS 6. Planning for Tax Time Poor Fred. Tax time is drawing near, and he does not know how to begin to prepare his income tax return. He has piles of forms and other paperwork, but he just cannot figure out what to do with them. Fred needs help, USE MATH SKILLS 5. A Taxing Question Last year, Shirley, a single…

Richard Cook Directions Using the tax software, complete the tax return, including Form 1040 and all appropriate forms, schedules, or worksheets. Answer the questions following the scenario. Note: When entering Social Security numbers (SSNs) or Employer Identification Numbers (EINs), replace the Xs as directed, or with any four digits of your choice. Interview Notes • Richard is age 39 and was widowed in 2017. He has a daughter, Isabella, age 5. • Richard provided the entire cost of maintaining the household and over half of the support for Isabella. In order to work, he pays childcare expenses to Busy Bee Daycare. • Richard declined to receive advance child tax credit payments in 2021. • Richard’s earned income in 2019 was $19,000. • Richard and Isabella are U.S. citizens and lived in the United States all year in 2021. • Richard received the third Economic Impact Payment (EIP3) in the amount of $2,800 in 2021. 33. Richard does not qualify to claim a retirement savings contribution…

Question 30: Match each form to its purpose. SS-4 Used to obtain a Social Security number DROP HERE W-4 Provides information to calculate income tax withholding DROP HERE SS-5 Used to obtain an Employer Identification Number DROP HERE 1-9 Verifies employment eligibility DROP HERE Question 12: Which of these is a credit reduction state/territory? Question 15: Union dues are considered a deduction. Answer: Answer: A. O Connecticut A. O cafeteria B. O Ohio B. O insurance C. O Virginia C. O mandatory D. O U.S. Virgin Islands D. O voluntary Question 14: Alejandra owns and operates an appliance store where employees clock in and out for each shift. Per the FLSA, Alejandra rounds employee time worked to the nearest 15-minute increment. On Tuesday this week, Stanley works 4 hours and 9 minutes in the morning and 3 hours and 11 minutes in the afternoon. How does Alejandra record Stanley's time? Answer: A. O 7 hours B. O 7 hours and 15 minutes C. O 7 hours and 20 minutes D. O 7 hours and 30…

PSA 3-6 Calculate Federal Income Tax Withholding Using the Wage-Bracket Method (2020 or Later Form W-4) For each employee listed, use the wage-bracket method to calculate federal income tax withholding for an employee who has submitted a 2023 Form W-4. Refer to Publication 15-T. 1 Noah Singer files as married filing jointly on his tax return and earned weekly gross pay of $927. For each period he makes a 401(k) contribution of 5% of gross pay Noah checked box 2c on Form W-4 and did not enter any information in steps 3-4 Federal income tax withholding = $( X 2 Ashley Laughlin files as single on her tax return and earned weekly gross pay of $625. She does not make any retirement plan contributions. Ashley entered $4,000 on line 4b of Form W-4 and did not enter any information in steps 2 and 3 Federal income tax withholding = $ 3 Zoey Segal files as married filing jointly on her tax return and earned weekly gross pay of $1,200 For each period she makes a flexible spending account…

Module 2: Filing Requirements Question 3 of 15. Joseph and Lorena are married and lived together for the entire year in California. Joseph earned $44,000 in wages, and Lorena eamed $20,000 in wages. They will file separ his separate federal and California tax returns? Ⓡ $20,000 $32,000 $44,000 $54,000 Mark for follow up

Question content area top Part 1 Determine how much the following individual will save in taxes with the specified tax credits or deductions.   Rosa is in the 28% tax bracket and claims the standard deduction. How much will her tax bill be reduced if she makes a $500 contribution to​ charity?

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Problem 3-37 (LO. 3, 7) Question Content Area Taylor, age 18, is claimed as a dependent by her parents. For 2022, she has the following income: $6,250 wages from a summer job, $800 interest from a money market account, and $300 interest from City of Chicago bonds. If an amount is zero, enter "0". Click here to access the 2022 tax rate schedule. a.   Determine the following:Taylor's standard deduction for 2022 is $fill in the blank a3fdd107d05dff8_1. Taylor's taxable income for 2022 is $fill in the blank a3fdd107d05dff8_2.   Question Content Area b.  Compute Taylor's "net unearned income" for the purpose of the kiddie tax.$fill in the blank 03fd17f9ef9a055_1 Compute Taylor's income tax. [Her parents file a joint return and have taxable income of $135,000 (no dividends or capital gains).]$fill in the blank 03fd17f9ef9a055_2

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

PSb 3-7 Calculate Federal Income Tax Withholding Using the Percentage Method (2020 Form W-4) For each employee listed, use the percentage method to calculate federal income tax withholding for an employee who has submitted a 2020 Form W-4. Refer to Appendix A, 2020 Federal Tax Tables in your textbook. Publication 15-T (2020) 1: Julia Jacobsen files as single on her tax return and earned weekly gross pay of 500. For each pay period she makes a 401(k) contribution of 2% of gross pay. Julia checked box 2c on Form W-4, entered $40 on line 4c of the form, and did not enter any information in step 3 of the form. Federal income tax withholding = | 2: Alejandro Wright files as single on his tax return and earned weekly gross pay of 1300. He does not make any retirement plan contributions. Alejandro entered 500 in step 3 of the form and did not enter any information in steps 2 & 4 of the form. Federal income tax withholding = $ Tentative Federal Income Tax Withholding = $ 3: Beatrice Nen files…