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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 6 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
| Dawn, a single, cash method taxpayer, paid the following in the current year: | ||||||
| Â | Â | Â | Â | Â | Â | Â |
| Â | Item | Amount | ||||
| Â | Federal income tax (employer withheld) | $ 5,400 | ||||
| Â | State income tax (employer withheld) | 2,000 | ||||
| Â | FICA (employer withheld) | 3,800 | ||||
| Â | Sales tax on a new car | 600 | ||||
| Â | License for new car | 70 | ||||
| Â | Â | Â | Â | |||
| Dawn's new car has a FMV of $20,000 and it weighs 3,000 pounds. The county also assessed a property tax on the car. The tax was 2% of its FMV and $10 per hundred weight. The car is used 100% of the time for personal purposes. Dawn sold her house in the current tax year on April 15th. The county's property tax on the home for the tax year was $1,850, payable on February 1st of the following year. The county's property tax year is the calendar year. Dawn's AGI for the current tax year is $50,000 and her other itemized deductions exclusive of taxes are $4,000. | ||||||
Hospital bills 9,400
Legal fees in suit against ski resort 3,000
Angela is single and has no dependents. During the current year, her salary is $58,00...
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