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Emily, who is single, has been offered a position as a city landscape consultant. The position pays $125,000 in cash wages. Assume Emily has
Emily, who is single, has been offered a position as a city landscape consultant. The position pays $125,000 in cash wages. Assume Emily has no dependents. Emily deducts the standard deduction instead of itemized deductions, she is not eligible for the qualified business income deduction, and she did not make any charitable donations. (Use the tax rate schedules.) b-1. Suppose Emily receives a competing job offer of $120,000 in cash compensation and nontaxable (excluded) benefits worth $5,000. What is the amount of Emily's after-tax compensation for the competing offer? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Answer is not complete. Description Amount (1) Gross income $ 120,000 (2) For AGI deductions 0 (3) Adjusted gross income $ 120,000 (4) Standard deduction 13,400 (5) Taxable income $ 106,600 (6) Income tax liability After-tax compensation
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