a. How much is Cooper's total deduction on his Schedule C for special clothing and uniforms? %$4 b. How much is Brandy's total deduction on her Schedule C for special clothing and uniforms? %$4 %24 %24
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- Problem 9-13----2019The FUTA Tax (LO 9.6) Thomas is an employer with two employees, Patty and Selma. Patty's wages are $12,450 and Selma's wages are $1,310. The state unemployment tax rate is 5.4 percent. Calculate the following amounts for Thomas: Round your answer to two decimal places. a. FUTA tax before the state tax credit $ b. State unemployment tax $ c. FUTA tax after the state tax credit $Problem 9-6 Estimated Payments (LO 9.2) Kana is a single wage earner with no dependents and taxable income of $168,700 in 2021. Her 2020 taxable income was $155,000 and tax liability was $31,375. Calculate Kana's 2021 income tax liability and the minimum required 2021 annual payment necessary to avoid any penalty. Round your answers to two decimal places. Click here to access the income tax rate schedules. Kana's 2021 income tax liability: Kana's minimum required 2021 annual payment necessary to avoid any penalty:4. Mahmood buys a commodity from the wholesaler at OMR 1,200 and was charged by VAT at the rate prescribed of 10%. He fixes the price of this commodity at OMR 1,500 for the customer and in turn he charges VAT at the same rate. Calculate the amount of Value Added tax (VAT) paid by Mahmood to the government. A. OMR 120 B. OMR 270 C. OMR 150 D. OMR 30
- Problem 6-16 The Nanny Tax (LO 6.6) Sally hires a maid to work in her home for $400 per month. The maid is 25 years old and not related to Sally. During 2022, the maid worked ten months for Sally. Do not round immediate computations and round your final answers to two decimal places. a. What is the employer's share of Social Security tax Sally must pay? b. What is the employer's share of Medicare tax Sally must pay? Sally's employer's Medicare tax: $ c. What is the amount of Social Security and Medicare tax which must be withheld from the maid's wages? Sally should withhold for Social Security and Medicare tax of:Question 3 of 10 Calvin received bimonthly paychecks of $2007.25 last year. If 17.1% of his yearly income got withheld for federal income tax, how much got withheld for federal income tax from each of Calvin's paychecks last year? O A. $82.38 O B. $34.32 O C. $343.23 O D. $823.78 LISubject:acocuting
- Question 8 Jerrod Smith's gross earnings this pay period were $1350. Jerrod is paid weekly and he is single with 2 withholding allowances. His year-to-date is $59,875. Find his social security, medicare, and federal income tax deduction for this pay period.CENU COC Marty and Dee have 2 qualifying children for the child and dependent care credit. They paid $5,200 for their eligible work-related expenses. Marty's W-2 shows $56,720 in wages box 1. Dee was a full-time student for 10 months. The dollar limit for their work-related childcare expenses is. Select one: O a $2,500 b. $3,000 c. $5,200 d. $8,000 - e. None of these 4 ~nd bör danskt- Pinde ---- to non Powered by TOPY 2008-2023 Interactyx Limited. All rights reserved. Statement of Rights and Responsibilities41-Jasmin is the owner of a food store in Central London. She made a purchase of food items worth £30,000 in the month of May 2019. How much VAT shall be paid by Jasmin on her purchases as per UK tax laws? O a. £0 O b. Exempted from VAT O c. £2,400 O d. £2,800
- QUESTION 2 Ann's average income tax rate is 30%, and her marginal income tax rate is 37%. Her property tax bill for 2015 was $12,000 and her annual interest payment on her mortgage was $9,500. Based on this information, what is Ann's total income tax shield (i.e. how much is Ann saving on her income taxes)? O A. $3,515.00 O B. $6,450.00 OC. $7,955.00 O D. $4,400.002 O c. $5,000 od. $10,000 4. BigBroker, Inc., an employer with 200 employees, offers health insurance coverage to its employees and dependents and pays one-half of employee premiums. For what tax penalty would it be liable if two of its employees obtained insurance coverage through an exchange in 2022 and received a premium subsidy for the entire year if the applicable annual penalty amount is $4,120? (Search Chapter 1) O a. $0 O b. $4,120 O C. $8,240 O d. $40,600 4 5. What is the Social Security taxable earnings limit applicable to wages received in 2022? Search Chapter 11 e LA A+ F3 x F4 -0-- F5 → Search + F6 09 F7 F8 F9 99+ F10 F11 W 1 F12 < X Insert $ PrtSc Delete1. Which of the following must be included in the gross income of the recipient in 2021? a.Unemployment compensation b.Child support payments c.Welfare payments d.Gifts e.All of these choices are included in gross income. 2. All of the following must be included in gross income, except: a.Gambling winnings b.Jury duty fees c.Dividends d.Gifts e.Partnership income 3. All of the following amounts are excluded from gross income, except: a.Gifts b.Veterans' benefits c.Tips and gratuities d.Child support payments e.Scholarship grants for tuition