Required Information Problem 4-32 (LO 4-1) (Algo) [The following information applies to the questions displayed below.] Eklya, who is single, has been offered a position as a city landscape consultant. The position pays $151,400 in wages. Assume Ekiya has no dependents. Ekiya deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business Income deduction. (Use the tax rate schedules.) Problem 4-32 Part-a (Algo) a. What is the amount of Ekiya's after-tax compensation (ignore payroll taxes)? Note: Round your Intermediate calculations and final answers to the nearest whole dollar amount. Description (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Taxable income (6) Income tax liability After-tax compensation Amount $ 151,400 0 S 151,400 $ 151,400

Required Information Problem 4-32 (LO 4-1) (Algo) [The following information applies to the questions displayed below.] Eklya, who is single, has been offered a position as a city landscape consultant. The position pays $151,400 in wages. Assume Ekiya has no dependents. Ekiya deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business Income deduction. (Use the tax rate schedules.) Problem 4-32 Part-a (Algo) a. What is the amount of Ekiya's after-tax compensation (ignore payroll taxes)? Note: Round your Intermediate calculations and final answers to the nearest whole dollar amount. Description (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Taxable income (6) Income tax liability After-tax compensation Amount $ 151,400 0 S 151,400 $ 151,400

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter26: Tax Practice And Ethics

Section: Chapter Questions

Problem 13DQ

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Required information [The following information applies to the questions displayed below.] Ekiya, who is single, has been offered a position as a city landscape consultant. The position pays $151,400 in wages. Assume Ekiya has no dependents. Ekiya deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business income deduction. (Use the tax rate schedules.) a. What is the amount of Ekiya's after-tax compensation (ignore payroll taxes)? Note: Round your intermediate calculations and final answers to the nearest whole dollar amount. X Answer is not complete. Description (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Taxable income (6) Income tax liability After-tax compensation Amount $ 151,400✔ $ 151,400 (20,800) X $ 130,600
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