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28 Sep 2019
Rick, who is single, has been offered a position as a citylandscape consultant. The position pays $110,000 in cash wages.Assume Rick files single and is entitled to one personal exemption.Rick deducts the standard deduction instead of itemized deductions.(use the tax rate schedules.) (Do not round intermediatecalculations. Round "Income tax liability" and "After-taxcompensation" to 2 decimal places. Enter deductions as negativeamounts)
Suppose Rick receives a competing job offer of $105,000 in cashcompensation and nontaxable (excluded) benefits worth $4,350. Whatis the amount of Rickâs after-tax compensation and income taxliability for the competing offer?
(1) Gross income $105,000 (2) For AGI deductions 0 (3) Adjusted gross income $105,000 (4) Standard deduction (6,300) (5) Personal and dependency exemptions (4,000) (6) Taxable income $94,700 (7) Income tax liability After-tax compensation
Rick, who is single, has been offered a position as a citylandscape consultant. The position pays $110,000 in cash wages.Assume Rick files single and is entitled to one personal exemption.Rick deducts the standard deduction instead of itemized deductions.(use the tax rate schedules.) (Do not round intermediatecalculations. Round "Income tax liability" and "After-taxcompensation" to 2 decimal places. Enter deductions as negativeamounts)
Suppose Rick receives a competing job offer of $105,000 in cashcompensation and nontaxable (excluded) benefits worth $4,350. Whatis the amount of Rickâs after-tax compensation and income taxliability for the competing offer?
(1) | Gross income | $105,000 | ||
(2) | For AGI deductions | 0 | ||
(3) | Adjusted gross income | $105,000 | ||
(4) | Standard deduction | (6,300) | ||
(5) | Personal and dependency exemptions | (4,000) | ||
(6) | Taxable income | $94,700 | ||
(7) | Income tax liability | |||
After-tax compensation |
Collen VonLv2
28 Sep 2019