A single taxpayer, age 67, with an AGI of $237, 500 gets what amount of the Exemption credit for TY2022? Select one: a. $385 b. $280 c. $433 d. $232
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- During 2019, Carl (a single taxpayer) has a salary of $91,500 and interest income of $11,000. Calculate the maximum contribution Carl is allowed for an educational savings account. $0 $400 $1,000 $2,000 Some other amountLisa records nonrefundable Federal income tax credits of 65,000 for the year. Her regular income tax liability before credits is 190,000, and her TMT is 150,000. a. What is Lisas AMT? b. What is Lisas regular income tax liability after credits?A single taxpayer, age 67, with an AGI of $187,500 gets what amount of the Exemption credit? $228 $222 $98 $114
- DogIf a single taxpayer had self-employment income (from all sources) of $243,638, then $______ would be subject to an additional Medicare tax of .9% The answer is 25,000, but how?8. Youngstown Decking is an accrual basis taxpayer. On July 1, 2022, Youngstown paid $22,800 cash for a comprehensive liability and property insurance policy that covers a 24-month period. The deduction for insurance expense for 2022 is: a.$11,400. b.$22,800. c.$6,650. d.$5,700. e.$950.
- Subject - account Please help me. Thankyou.Yanni, who is single, provides you with the following information for 2021: Salary State income taxes Mortgage interest expense on principal residence Charitable contributions. 2,564 Interest income 1,923 Click here to access the exemption table. If required, round your answers to the nearest dollar. Compute the following: a. Yanni's taxable income: b. Yanni's AMT base: $128,200 12,820 11,538 c. Yanni's tentative minimum tax: X Incorrectneed help calculatin Earned Income Credit, for the year 2022. taxpayer has 3 qualifying children which are going to be claimed and her AGI is $20, 034 with $1.75 of interest received. her taxable income in $1,636. federal income tax withheld is $2, 103. our additional child tax credit from form 8812 is $2,780. how can we calculated EIC? in the irs page is saying it would be $ 6, 935 but its not correct. please help i need correct calculation of eic
- a. the taxpayer effective tax rate woulb be 16% if they ware a single taxpaye with income of 75,000 that is taxable true or fales b. a single taxpayer earning 50,000 taxable income will pay more in federal taxes than a taxpayer filing head of the household with the same taxable income true of falseN8. Account15. that's the following scenario correctly describes income limitations on credit for the tax year 2023. A. Married filing jointly couple has two qualifying children age 6 and 8 the taxpayer has a a W-2 and the spouse has been a full-time volunteer with a local charity they have child care expenses of $4,500 for the year they can take the child and dependent Care credit. B. A head of the household taxpayer has three qualifying dependent age 6 9 and 19. C. Their Magi is 115,000 and their tax liability is $21,774.50 the child tax credits will be $6,000