Calculation of federal Tax liability as per for 1040 for jonathan hales for the year 2018
|
Particulars |
Amount($) |
|
|
Gross wages |
9700 |
the colony =3675 rock climbing= 1790 community pool =4235 Total =9700 |
|
Interest |
12 |
|
|
Income before exemption and deduction |
9712 |
|
| Less standard deduction | (9712) | Total standard deduction allowed per single status filer s upto 12000 , so in this case it is allowed upto 9712 as taxable income is$ 9712 |
|
Tax liability |
0 |
|
|
Federal Income tax withholding |
405 |
=165+240 |
| refund | $405 |
Total refund jonathan will be getting $ 405
Jonathan is above 19 years and living with his parents and getting a support from his parents of $16500 for his education ,clothing , health insurance etc as this is assumed that he his getting full support and fully dependent on his parents
as he above 19 years and and he is part time student so his parents are only liable of 500 child tax credit in section other dependent credits as per federal tax laws Jo
jonathan will not be eligible for any education credits also .
Tax Return-Individual Number One (after Chapter 4) Instructions: Please complete the 2018 federal income tax return...
Please complete the 2017
federal income tax return for Jonathan Hales.
Tax Return-Individual N er Chapter 4) Instructions Please complete the 2017 federal income tax return for Jonathan Hales. Be sure to include only required tax forms when completing the tax return. Ignore the requirement to attach the form(s) to the front page of the Form 1040. If required information is missing, use reasonable assumptions to W-2 fill in the gaps Jonathan Hales attended State University as a part-time student...
Brian and Kim have a 12-year-old child, Stan. For 2018, Brian
and Kim have taxable income of $52,000, and Stan has interest
income of $4,500.
Click here to access the income tax rate schedules.
If Stan’s parents elected to report Stan’s income on his
parents’ return, what would the tax on Stan’s income be?
2018 Tax Rate Schedules The tax is: of the amount over- Schedule X-If your filing status is Single If your taxable income is: But not Over-...
Instructions: Please complete the 2018 federal income tax return for Bill Hales. Be sure to include only required tax forms when completing the tax return. Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040. If required information is missing, use reasonable assumptions to fill in the gaps. Bill Hales attended State University as a part-time student during the year. Bill lived at home with his parents while working a part-time job. The following...
2018 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $ 9.525 10% of taxable income $ 9,525 $ 38,700 5952.50 plus 12% of the excess over $9,525 $ 38,700 $ 82,500 $4,453.50 plus 22% of the excess over $38,700 $ 82,500 $157,500 $14.089.50 plus 24% of the excess over $82,500 $157,500 $200,000 $32.089.50 plus 32% of the excess over $157,500 $200,000 $500,000 $45.689 50 plus 35% of the excess...
Charlotte (age 40) is a surviving spouse and provides all of the
support of her four minor children, who live with her. Charlotte
also maintains the household in which her parents live, and she
furnished 60% of their support. Besides interest on City of Miami
bonds in the amount of $5,500, Charlotte’s father received $2,400
from a part-time job. Charlotte earns an $80,000 salary, a
short-term capital loss of $2,000, and a cash prize of $4,000 at a
church raffle....
Geronimo files his tax return as a head of household for year
2018. If his taxable income is $225,000, what is his average tax
rate? (Use Tax rate schedules)
Multiple Choice
23.58%
25.51%
28.23%
35.00%
None of the choices are correct.
2018 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 9,525 10% of taxable in $ 9,525 $ 38,700 $952.50 plus 12% of the excess over $9,525 $ 38,700 $...
2018 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is $ 9,525 10% of taxable income $ 9,525 $ 38,700 S 82,500 $952.50 plus 12 % of the excess over $9,525 38,700 S S2,500 $4,453.50 plus 22% of the excess over $38,700 $14,089.50 plus 24% of the excess over $82,500 $157,500 $32,089.50 plus 32% of the excess over $157,500 $157,500 $200,000 $200,000 $500,000 $45,689.50 plus 35% of the excess over S200,000 $150,689.50...
2018 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $ 9.525 10% of taxable income $ 9,525 $ 38,700 5952.50 plus 12% of the excess over $9,525 $ 38,700 $ 82,500 $4,453.50 plus 22% of the excess over $38,700 $ 82,500 $157,500 $14.089.50 plus 24% of the excess over $82,500 $157,500 $200,000 $32.089.50 plus 32% of the excess over $157,500 $200,000 $500,000 $45.689 50 plus 35% of the excess...
Ing Your laxes Estimating taxable income, tax liability, and potential refund Arabella Cunningham is 24 years old and single, lives in an apartment, and has no dependents. Last year she earned $42,100 as a sales representative for Planning Associates; $3,368 of her wages was withheld for federal income taxes. In addition, she had interest income of $169. The standard deduction in 2018 was $12,000 for single. The appropriate tax rate schedule is shown below: EXHIBIT 3.3 Sample Tax Rate Schedules...
Problem 3-37 (LO. 1, 2, 3, 4, 5, 6, 8) Morgan (age 45) is single and provides more than 50% of the support of Rosalyn (a family friend, age 36), Flo (a niece, age 18), and Jerold (a nephew, age 18). Both Rosalyn and Flo live with Morgan, but Jerold (a citizen of France) lives in Canada. Morgan earns a $95,000 salary, contributes $5,000 to a traditional IRA, and receives sales proceeds of $15,000 for an RV that cost $60,000...