Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please fill out a 1040 form along with all schedules associated with the problem (itemized deductions schedule A, Schedule E, schedule C, etc) 54. David
Please fill out a 1040 form along with all schedules associated with the problem (itemized deductions schedule A, Schedule E, schedule C, etc)
54. David R. and Ella M. Cole (ages 39 and 38, respectively) are husband and wife who live at 1820 Elk Avenue, Denver, CO 80202. David is a regional sales manager for Wren Industries, a national wholesaler of plumbing and heating supplies, and Ella is a part-time dental hygienist for a chain of dental clinics . David is classified by Wren as a statutory employee with compensation for 2016 (based on commissions) of $95,000. He is expected to maintain his own office and pay for all business expenses from this amount. Wren does not require him to render any accounting as to the use of these funds. It does not withhold Fed- eral and state income taxes but does withhold and account for the payroll taxes
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