1. Daniel Simmons amivbd at the following tax informatian: Croan salary, 36? 250 Interest eictings $75 Drvidend incomit, 5140 Adjrstmeets to income, $550 Stamdert dnductice, 512,600 What amount woold Daniel report as taxable incomie? (L.O3.2) 2. If Samantha Jonet kad the fotlowing itemised dedoctions, should she ose Schedule A ar the landard dedaction? The atandard dedoctioe for her trx situation is $12,400, (LO3.2) Denatioes to chureh aod other charities, $5,050 Medical and dental experses exceeding 10 proent of adjusted gross income, 52,450 Mortgage ietcreat, 53,100 State innome trx, 52,920 3. What would be the average tas rate for a person who paid taxes of 44,706ca tamble income of 510,780 ? (2032) 4. Based oe the following dnta, would Beth and Poger Summont teceive s refind or owe additheal tuxes"? (LO3.2) 5. If 54,323 wre withheld churing the zear and taxer owed were $4,122, woeld the person owe a additional amount or zective a trfathd? What is the amour? (LO3 2) 6. Nooe Patel has had a besy year' She decided to take a crows-country adventure. Along the way, abe won a mew car on 1 we bp fur a credit card to start the trip and wan gaves a aigm-ep bonua of $100. How mach from thrat anill the hare to inchade in her federsl tatable income? (L0O. ?) 7. Uring th: (rible ca page 100 , determine the ambunt of texes for the following aituations: (LO3 3) 6. Woce Patel hax had a basy yearl Sthe decided to take a cross conantry atventure. Aloog the way, the won a sew car on the op for a credit card to atart the trip and was given a sign-up bouns of 5100 . Flow mach froen these wall ahe lave fa inclale in her fedent tuable income? (LO3.2) 7. Uning the tax table on pape 100 , detemine the amount of taxes for the following nituaticas: (L03 3) a A bead of bousehold with tarable income of 555,000 b. A single perso with taxable income of $35,000. c. Maried tapuyen files jointly with taxble income of 572,000 8. If 300,000 people eack receive an average refhnd of 52,900 , based on an annal inlerest tale of 3 percent, what would be the last annme income from savings on those refunde? (L.03.2) 9. Urisg the tax table in Fixilit 3-5, detrraine the amcuet of taxes for the following aituatioes: (LO3.3) \&. A bead of hooveluld with taxable inceme of 589,525 . 6. A single persou with taxable inceete of 589,001 c. A murried person fling a separate tehirn with gaxable income of $59365. 10. Wendy Broois preparen ber own incoane tas reburn each yeat A ax preparer would charge ber 575 for this yervice. Over a Feciod of 10 years, thow enuch does Wendy gain from prepariag her oum tax retam? Amzume she can eam 3 percent da ber swing (L033) 11. Jula Siata has 530,000 of adjauted grous isceme and 55,000 of modical experaed. Sbe expects to itemice her tas deductions this yeat. The most recent tex year has a =edical expentes floor of 10 pereeat. How much of a tax dedoetice for mindeal erpenser arll ful-a be able so take? (LO3 3) 12. Atlioce has crtareed to ackoel at er five yearn set of the mork foce. Sbe is taking obe ccurse at the local maikersity for a Whume a 24 petceer tas rake) Why? (L03.4) fin modical exponien will Jala be able fo take? (LU33) eost of 51,500 To minieni (Asume a 24 pescrat tas ralt) Wlay? (LO3.4) 14. Oa December 30 , yon make a $3,000 chatitable donation (LO,4) a. If you are in the 24 percent tas bracket, how enuch will you save in taxes for the curreet year? b. If you deposit that tax aviega in a saviegs acoount for the neat five yeara at 8 perceat, what will be the future valar of that account? 15. Reginald Sima deporits 55,500 each ycar in a tax-defared retiremeet account. If be is in a 22 percent tax brachet, by ahat amount would his tas be reduced over a 20 -year time peried? (LO3.4) 16. If a persen in a 32 percent tas bracket makra a deposit of 55.000 to a tas-deferred retirement account, what amocat woald be savind ca current taves? (1.03,4) connect mhediacstich com. 1. Daniel Simmons amivbd at the following tax informatian: Croan salary, 36? 250 Interest eictings $75 Drvidend incomit, 5140 Adjrstmeets to income, $550 Stamdert dnductice, 512,600 What amount woold Daniel report as taxable incomie? (L.O3.2) 2. If Samantha Jonet kad the fotlowing itemised dedoctions, should she ose Schedule A ar the landard dedaction? The atandard dedoctioe for her trx situation is $12,400, (LO3.2) Denatioes to chureh aod other charities, $5,050 Medical and dental experses exceeding 10 proent of adjusted gross income, 52,450 Mortgage ietcreat, 53,100 State innome trx, 52,920 3. What would be the average tas rate for a person who paid taxes of 44,706ca tamble income of 510,780 ? (2032) 4. Based oe the following dnta, would Beth and Poger Summont teceive s refind or owe additheal tuxes"? (LO3.2) 5. If 54,323 wre withheld churing the zear and taxer owed were $4,122, woeld the person owe a additional amount or zective a trfathd? What is the amour? (LO3 2) 6. Nooe Patel has had a besy year' She decided to take a crows-country adventure. Along the way, abe won a mew car on 1 we bp fur a credit card to start the trip and wan gaves a aigm-ep bonua of $100. How mach from thrat anill the hare to inchade in her federsl tatable income? (L0O. ?) 7. Uring th: (rible ca page 100 , determine the ambunt of texes for the following aituations: (LO3 3) 6. Woce Patel hax had a basy yearl Sthe decided to take a cross conantry atventure. Aloog the way, the won a sew car on the op for a credit card to atart the trip and was given a sign-up bouns of 5100 . Flow mach froen these wall ahe lave fa inclale in her fedent tuable income? (LO3.2) 7. Uning the tax table on pape 100 , detemine the amount of taxes for the following nituaticas: (L03 3) a A bead of bousehold with tarable income of 555,000 b. A single perso with taxable income of $35,000. c. Maried tapuyen files jointly with taxble income of 572,000 8. If 300,000 people eack receive an average refhnd of 52,900 , based on an annal inlerest tale of 3 percent, what would be the last annme income from savings on those refunde? (L.03.2) 9. Urisg the tax table in Fixilit 3-5, detrraine the amcuet of taxes for the following aituatioes: (LO3.3) \&. A bead of hooveluld with taxable inceme of 589,525 . 6. A single persou with taxable inceete of 589,001 c. A murried person fling a separate tehirn with gaxable income of $59365. 10. Wendy Broois preparen ber own incoane tas reburn each yeat A ax preparer would charge ber 575 for this yervice. Over a Feciod of 10 years, thow enuch does Wendy gain from prepariag her oum tax retam? Amzume she can eam 3 percent da ber swing (L033) 11. Jula Siata has 530,000 of adjauted grous isceme and 55,000 of modical experaed. Sbe expects to itemice her tas deductions this yeat. The most recent tex year has a =edical expentes floor of 10 pereeat. How much of a tax dedoetice for mindeal erpenser arll ful-a be able so take? (LO3 3) 12. Atlioce has crtareed to ackoel at er five yearn set of the mork foce. Sbe is taking obe ccurse at the local maikersity for a Whume a 24 petceer tas rake) Why? (L03.4) fin modical exponien will Jala be able fo take? (LU33) eost of 51,500 To minieni (Asume a 24 pescrat tas ralt) Wlay? (LO3.4) 14. Oa December 30 , yon make a $3,000 chatitable donation (LO,4) a. If you are in the 24 percent tas bracket, how enuch will you save in taxes for the curreet year? b. If you deposit that tax aviega in a saviegs acoount for the neat five yeara at 8 perceat, what will be the future valar of that account? 15. Reginald Sima deporits 55,500 each ycar in a tax-defared retiremeet account. If be is in a 22 percent tax brachet, by ahat amount would his tas be reduced over a 20 -year time peried? (LO3.4) 16. If a persen in a 32 percent tas bracket makra a deposit of 55.000 to a tas-deferred retirement account, what amocat woald be savind ca current taves? (1.03,4) connect mhediacstich com