Please help me
Joe and Piper are married, file jointly, and have one dependent (12-year old qualifying child). Joe receives a $88,000 salary. Piper is self-employed. Her sole proprietorship's revenues are $111,000, and its expenses are $51,000. Joe and Piper each make a $6,000 deductible contribution to a traditional IRA. Their itemized deductions are $26,500. Federal income taxes of $7,200 are withheld from Joe's paychecks, and Piper makes $3,500 of estimated tax payments. (Click the icon to view the standard deduction and child credit amounts.) (Click the icon to view the 2019 tax rate schedule for the Married filing jointly filing status.) Read the requirement. First, compute their gross income. Gross income Next, compute their adjusted gross income. Adjusted gross income Next, compute their taxable income. (Assume that Piper qualifies for the qualified business income deduction.) Taxable income Now compute their additional tax due (refund). (Use the 2019 tax rate schedule for all tax calculations. Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Remember to ignore any self-employment tax. Enter a refund with parentheses or a minus sign.) Additional tax due (refund) Choose from any list or enter any number in the input fields and then continue to the next question. A Reference STANDARD DEDUCTION $ $ $ Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. 24,400 18,350 12,200 12,200 $1,300* $1,650* * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. 2019 Child Tax Credit = $2,000 per qualifying child Print Print Done X i Reference Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: Not over $19,400.. ...... 10% of taxable income. Over $19,400.but not over $78,950........$1.940.00 + 12% of the excess over $19,400. Over $78,950.but not over $168,400.......$9,086.00 + 22% of the excess over $78,950. Over $168,400.but not over $321,450...... $28.765.00 +24% of the excess over $168,400. Over $321,450.but not over $408,200. . . . . . $65,497.00 + 32% of the excess over $321,450. Over $408,200.but not over $612,350......$93.257.00 + 35% of the excess over $408,200 Over $612,350.........................$164,709.50 + 37% of the excess over $612,350. Print Done * Requirements Determine the additional tax due or refund when Joe and Piper file their 2019 income tax return. Ignore any self-employment tax. Print Print Done Done Joe and Piper are married, file jointly, and have one dependent (12-year old qualifying child). Joe receives a $88,000 salary. Piper is self-employed. Her sole proprietorship's revenues are $111,000, and its expenses are $51,000. Joe and Piper each make a $6,000 deductible contribution to a traditional IRA. Their itemized deductions are $26,500. Federal income taxes of $7,200 are withheld from Joe's paychecks, and Piper makes $3,500 of estimated tax payments. (Click the icon to view the standard deduction and child credit amounts.) (Click the icon to view the 2019 tax rate schedule for the Married filing jointly filing status.) Read the requirement. First, compute their gross income. Gross income Next, compute their adjusted gross income. Adjusted gross income Next, compute their taxable income. (Assume that Piper qualifies for the qualified business income deduction.) Taxable income Now compute their additional tax due (refund). (Use the 2019 tax rate schedule for all tax calculations. Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. Remember to ignore any self-employment tax. Enter a refund with parentheses or a minus sign.) Additional tax due (refund) Choose from any list or enter any number in the input fields and then continue to the next question. A Reference STANDARD DEDUCTION $ $ $ Filing Status Married individuals filing joint returns and surviving spouses Heads of households Unmarried individuals (other than surviving spouses and heads of households) Married individuals filing separate returns Additional standard deduction for the aged and the blind; Individual who is married and surviving spouses Additional standard deduction for the aged and the blind; Individual who is unmarried and not a surviving spouse Taxpayer claimed as dependent on another taxpayer's return: Greater of (1) earned income plus $350 or (2) $1,100. 24,400 18,350 12,200 12,200 $1,300* $1,650* * These amounts are $2,600 and $3,300, respectively, for a taxpayer who is both aged and blind. 2019 Child Tax Credit = $2,000 per qualifying child Print Print Done X i Reference Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: Not over $19,400.. ...... 10% of taxable income. Over $19,400.but not over $78,950........$1.940.00 + 12% of the excess over $19,400. Over $78,950.but not over $168,400.......$9,086.00 + 22% of the excess over $78,950. Over $168,400.but not over $321,450...... $28.765.00 +24% of the excess over $168,400. Over $321,450.but not over $408,200. . . . . . $65,497.00 + 32% of the excess over $321,450. Over $408,200.but not over $612,350......$93.257.00 + 35% of the excess over $408,200 Over $612,350.........................$164,709.50 + 37% of the excess over $612,350. Print Done * Requirements Determine the additional tax due or refund when Joe and Piper file their 2019 income tax return. Ignore any self-employment tax. Print Print Done Done
