How much would be the tax credit if the amount of donation is $2,500 in 2023? Taxable income is $80,000.
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- If you live in a state that needs to collect $18 million in property taxes and has a tax rate of 2.77%, what is that states taxable valueK20.What is Thomas's proportional tax rate for 2023? His information is below: 2022 Tax Rate 20% 2023 Tax Rate 30% Average Tax Rate 25 % 2022 Tax Base $ 100,000 2023 Tax Base $130,000 2023 Tax Base Average $125,000
- for tax year 2023, a taxpayer has the following income items: $200,000 wages, sales of primary residence for $250,000, $40,000 alimony paid, $25,000 life insurance proceeds, $4,500 traditional ira contribution. What is the adjusted gross income for the taxpayer?How much does he need before tax of this financial accounting question?In 2020, Shelly had net earnings from her business of $160,000. What is the amount of Shelly’s self-employed tax? Round answer to nearest dollar.
- 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 amountWe already know that Ian and Isabella’s (federal) gross income for 2020 is $101,000 and their AGI is $99,000 Please Loot at the image and find out 1. What is the amount of Ian and Isabella’s total itemized deductions in 2020 (including the deductible taxes of $10,000 and all other itemized deductions)? (*Note: the answer is not $13,000 or $15,000) 2. What is Ian and Isabella's 2020 taxable income? They have no QBI deduction.If you live in a state that needs to collect $18 million in property taxes and has a tax rate of 2.77%, what is that state’s taxable value? $650 million $65 million $6 million $499,000
- Michel has heard of some Canadians that are millionaires with their TFSA’s. If that were the case and they withdrew $1 million dollars from their TFSA account in 2023, how much tax would they pay on the withdrawn funds if they were in a 53.31% marginal tax bracket? Tax calculation on $1 million TFSA withdrawal:Suppose a taxpayer can time when they receive a $100,000 distribution from a pre-tax 401(k) retirement account (this tax year or next). If they wait until next year, they will earn 10% on the account. The distribution is fully taxable at the marginal tax rate of the taxpayer, which is 24% for this year. What would be the marginal tax rate NEXT YEAR to just make the distribution financially advantageous this tax year? Enter your response as a whole number percent without the "%" sign and using 5/4 rounding (25.67% = 26).If a person with a 24 percent tax bracket makes a deposit of $6,500 to a tax-deferred retirement account, what amount would be saved on current taxes? Current tax savings