Question 1

a. Roella AGI is $97,000. Her current tax liability is $14,300. Last year, her tax liability was $11,100. She will not owe underpayment penalties (safe harbor provision) if her total estimated tax payments are at LEAST which of the following (rounded) amounts (assume she makes the required payments each quarter)?

b. Sal earned a $60,520 salary as an employee in 2019. How much should his employer have withheld from his paycheck (employee portion) for FICA taxes (rounded to the nearest whole dollar amount)?

c. Cali is single and in 2019, he reported $600,000 of taxable income, including a long-term capital gain of $10,000. What is his gross tax liability, rounded to the nearest whole dollar amount (use the tax rate schedules)?

d. If your tentative alternative minimum tax for 2019 was $10,000 and your regular tax liability was $9,000.

What would be the amount of your total tax due? ____________

How much regular tax would you be paying? __________

How much AMT would you be paying?_________