Question
1) Yasmeen, who is single, 37 years of age, and does not itemize her deduction, works in a foreign branch of her employers business. She
1) Yasmeen, who is single, 37 years of age, and does not itemize her deduction, works in a foreign branch of her employers business. She worked the entire year of 2019 in the foreign branch and earned $135,000.
A. | Some other answer. | |
B. | Yasmeens taxable income for 2019 is $16,900. | |
C. | Since she worked the entire year in the foreign branch, Yasmeen is allowed to exclude only $104,900 from her income. | |
D. | Since she worked the entire year in the foreign branch, Yasmeen is allowed to exclude only $103,900 from her income. | |
E. | Since she worked the entire year in the foreign branch, Yasmeen is allowed to exclude $130,000 from her income. |
2) Which of the following is true about FICA?
A. | It provides a modest source of income in the event of loss of employment. | |
B. | It is administered by both state and Federal governments. | |
C. | It applies when a 19-year-old son works for his parents. | |
D. | some other answer. | |
E. | It is imposed only on the employer. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started