Ekiya, who is single, has been offered a position as a city landscape consultant. The position pays $150,200 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. What is the amount of Ekiya's after-tax compensation (ignore payroll taxes)? Solve for sub-questions 2, 4, and 6.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Ekiya, who is single, has been offered a position as a city landscape consultant. The position pays $150,200 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.

What is the amount of Ekiya's after-tax compensation (ignore payroll taxes)?

Solve for sub-questions 2, 4, and 6.

 

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
$ 150,200
$ 150,200
$ 150,200
Transcribed Image Text: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 $ 150,200 $ 150,200 $ 150,200
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