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Ms. Mikayla Van Home is employed by a large publicly traded corporation and her 2021 salary is $125,600. In addition to her annual salary,
Ms. Mikayla Van Home is employed by a large publicly traded corporation and her 2021 salary is $125,600. In addition to her annual salary, she received a performance bonus of $24,500, one-half of which was paid in 2021, with the remaining one-half not due until July 1, 2022. In addition to her salary, she earns commissions of $31,600 during 2021. She has an employment contract with the employer that requires her to pay for her own travel and other expenses subject to limited reimbursement. i (Click the icon to view the withholdings.) Required i (Click the icon to view more information.) Requirement A. Determine Ms. Van Horne's minimum Net Income for Tax Purposes for 2021. (Round your answer to the nearest dollar.) Ms. Van Horne's minimum employment income is $ Requirement B. Determine Ms. Vincent's minimum Taxable Income for 2021. (Round your answer to the nearest dollar.) Ms. Vincent's minimum taxable income is Requirement C. Based on your answer in Requirement B, determine Ms. Vincent's federal income Tax Payable or refund for 2021. Indicate any carry forwards available to her and her dependents and the carry forward provisions. Ignore any amounts that might have been withheld by her employer or paid in instalments. (Round your answer to the nearest dollar.) Ms. Vincent's federal income Tax Payable is
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