Business, 16.04.2020 01:49 AngstyGroot

Deductions from Adjusted Gross Income, Calculating Tax Liability (LO. 3, 5) Hongtao is single and has a gross income of $89,200. His allowable deductions for adjusted gross income are $4,100, and his itemized deductions are $19,250. The standard deduction for 2019 is $12,200. Round all amounts to the nearest dollar. Refer to the Tax Rate Schedules to answer the following questions. a. Hangtao's taxable income is $ and his tax liability is $ for 2019. b. If Hongtao has $11,000 withheld from his salary during 2019 then Hongtao has of $ . c. Assume the same facts as in part a and part b, except that Hongtao is married. His wife's salary is $30,300, and she has $1,400 withheld from her paycheck. They file jointly. The standard deduction for 2019 is $24,000. Their taxable income is $ and their tax liability is $ for

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 11:10

The green fiddle has declared a $5 per share dividend. suppose capital gains are not taxed, but dividends are taxed at 15 percent. new irs regulations require that taxes be withheld at the time the dividend is paid. green fiddle stock sells for $71.50 per share, and the stock is about to go ex-dividend. what will the ex-dividend price be?

Answers: 2

Answer

Business, 22.06.2019 13:40

Salge inc. bases its manufacturing overhead budget on budgeted direct labor-hours. the variable overhead rate is $8.10 per direct labor-hour. the company's budgeted fixed manufacturing overhead is $74,730 per month, which includes depreciation of $20,670. all other fixed manufacturing overhead costs represent current cash flows. the direct labor budget indicates that 5,300 direct labor-hours will be required in september. the company recomputes its predetermined overhead rate every month. the predetermined overhead rate for september should be:

Answers: 3

Answer

Business, 22.06.2019 17:30

One of your new suppliers, kim, has been hearing rumors about your firm’s lack of capability to deliver high quality products and writes an email asking you to address the claims being made. in replying to her, you want to be sure that you are very clear and leave no room for misinterpretation. which of the following aspects of effective communication should you give the most attention? (a) making sure you understand kim’s areas of expertise. (b) supporting your reply with relevant data and facts. (c) establishing your credibility as an expert. (d) paying attention to implied communications.

Answers: 2

Answer

Business, 22.06.2019 22:20

Who owns a renter-occupied apartment? a. the government b. a landlord c. the resident d. a cooperative

Answers: 1

Answer

You know the right answer?

Deductions from Adjusted Gross Income, Calculating Tax Liability (LO. 3, 5) Hongtao is single and ha...

Questions