Ekiya, who is single, has been offered a position as a city landscape consultant. The position pays $149,000 in wages. Assume Ekiya has no dependents. Ekiya deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business income deduction. (Use the tax rate schedules) Problem 4-32 Part-a (Algo) a. What is the amount of Ekiya's after-tax compensation (ignore payroll taxes)?
Ekiya, who is single, has been offered a position as a city landscape consultant. The position pays $149,000 in wages. Assume Ekiya has no dependents. Ekiya deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business income deduction. (Use the tax rate schedules) Problem 4-32 Part-a (Algo) a. What is the amount of Ekiya's after-tax compensation (ignore payroll taxes)?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Problem 4-32 (LO 4-1) (Algo)
[The following information applies to the questions displayed below.]
Ekiya, who is single, has been offered a position as a city landscape
consultant. The position pays $149,000 in wages. Assume Ekiya has
no dependents. Ekiya deducts the standard deduction instead of
itemized deductions, and she is not eligible for the qualified business
income deduction. (Use the tax rate schedules.)
Problem 4-32 Part-a (Algo)
a. What is the amount of Ekiya's after-tax compensation (ignore payroll taxes)?
Note: Round your intermediate calculations and final answers to the nearest whole
dollar amount.
Answer is not complete.
Description
(1) Gross income
(2) For AGI deductions
(3) Adjusted gross income
(4) Standard deduction
(5) Taxable income
(6) Income tax liability
After-tax compensation
Amount
$ 149,000
0
$ 149,000
16,290
$ 132,710](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6e6cceeb-9ae9-437d-b0c8-71dc538b5f6a%2F694eeead-0b2e-4d0a-a714-5fc72fea1efb%2F9g51na_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
Problem 4-32 (LO 4-1) (Algo)
[The following information applies to the questions displayed below.]
Ekiya, who is single, has been offered a position as a city landscape
consultant. The position pays $149,000 in wages. Assume Ekiya has
no dependents. Ekiya deducts the standard deduction instead of
itemized deductions, and she is not eligible for the qualified business
income deduction. (Use the tax rate schedules.)
Problem 4-32 Part-a (Algo)
a. What is the amount of Ekiya's after-tax compensation (ignore payroll taxes)?
Note: Round your intermediate calculations and final answers to the nearest whole
dollar amount.
Answer is not complete.
Description
(1) Gross income
(2) For AGI deductions
(3) Adjusted gross income
(4) Standard deduction
(5) Taxable income
(6) Income tax liability
After-tax compensation
Amount
$ 149,000
0
$ 149,000
16,290
$ 132,710
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