Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Carlos is thinking about getting a new job, and is reviewing his financial situation. a. Carlos decided to review his NC State 2011 tax bill.

Carlos is thinking about getting a new job, and is reviewing his financial situation. a. Carlos decided to review his NC State 2011 tax bill. He located a draft of his tax form and line item #17 from tax form D400 without tax credits. This showed that his NC state taxable income was $15,283. In 2011 he was filing as a single taxpayer. Determine the amount of 2011 NC tax due.

b. Carlos and Gabriela are considering getting married and Carlos wondered what their tax bill would be together. He texted her to look up her tax information and find her NC state taxable income. She replied that it was $23,414. Determine the amount of 2011 NC tax due if Carlos and Gabriela would have filed jointly as a married couple.

c. That answer in (b) seemed high to Carlos, so he calculated Gabrielas individual tax assessment. Determine the amount of 2011 NC tax due if Gabriela filed as an individual.

d. Carlos did not trust the calculation so he went online and found the NC Tax Rate Schedule and used the online tax calculator.

Record the values found with a calculator: - Carlos, filing single:

-Gabriela, filing single:

-Sum of taxes paid with each filing single:

-Carlos & Gabriela, married, filing jointly:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Internal Auditing Handbook

Authors: K. H. Spencer Pickett

1st Edition

0471969117, 978-0471969112

More Books

Students also viewed these Accounting questions