Vanida received workers' compensation due to an injury on the job. When Vanida files her tax return, her workers' compensation income will be: Fully taxable. Nontaxable. Partially taxable. Taxable at the discretion of the employer.
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- What portions of an employees take-home pay are exempt from a federal tax levy?If an employee does not complete a Form W-4, the employer must withhold tax as if the employee were single with no exemptions? True or FalseExpenditure incurred by an employee in performing their employment may be deductible under s 8-1. Which of the following is correct (ignoring any substantiation requirements)? Select one:Employees are generally able to claim all employment-related expenses as deductions under s 8-1Travel to and from work is tax deductible for the employee under s 8-1, if the car is provided by an employer as part of a salary package arrangement.Laundry costs are deductible for protective clothing when it is related to income producing activities.None of theseAll clothing costs are normally tax deductible for employees under s 8-1.
- If an individual is claimend as a dependent by another taxpayer, qualified tuition and expenses paid by that individual during the tax year are instead treated as paid by the taxpayer who is allowed the dependency deduction for purposes of?Which of the followings is included in taxpayer’s gross income (i.e., taxable)? a.Compensatory damage payments received from physical injury by accident caused by other party. b.Punitive damage payments received. c.Accident and health insurance payments received as loss of income under the policy purchased by the taxpayer. d.Qualified employee discount up to the gross profit percentage for goods. It is nondiscriminatory and employees work for the line of business in which the goods are being sold. e. Employee’s salary during the year, which is contributed to employee’s qualified pension plan.Which of the following employees would not be exempt from Social Security and Medicare taxes on wages paid for household work? The taxpayer's 16 -year-old daughter The taxpayer's wife The taxpayer's 20 -year-old sister The 14 -year-old babysitter from down the street
- Justin Holmes, an ex-employee, is entitled to a taxable fringe benefit during the first part of this year. Because he wasnt paid any wages this year, can his employer report the taxable fringe benefit on Form 1099?In choosing between taking the standard deduction and itemizing deductions from AGI, what effect, if any, does each of the following have? a. The age of the taxpayer(s). b. The health (i.e., physical condition) of the taxpayer. c. Whether taxpayers rent or own their residence. d. Taxpayers filing status (e.g., single, married, filing jointly). e. Whether married taxpayers decide to file separate returns. f. The taxpayers uninsured personal residence was recently destroyed by a wildfire (the region was declared a disaster area by the Federal government). g. The number of dependents the taxpayer can claim.Which of the following is a true statement? Multiple Choice Rental expenses are deducted for AGI but all other business expenses must be itemized. To deduct expenses associated with any profit motivated activity taxpayers must maintain a high level of involvement or effort in the activity throughout the entire tax year. Business activities cannot require a relatively high level of involvement or effort from the taxpayer. Congress allows self-employed taxpayers to deduct the employer portion of their self-employment tax for AGI. All of the choices are true.
- 1Which one of the following conditions must be satisfied in order for a married taxpayer to be taxed on only his income if he resides in a community property state? a.The husband and wife must live apart for the entire year. b.The husband and wife must live apart for more than half the year. c.The husband and wife must be in the process of filing for a divorce. d.Only one of the spouses can be working and earning an income. e.None of these choices are correct.A single taxpayer, under age 65, who is a dependent of another taxpayer, has to file a tax return if their unearned income exceeds more than which amount?
