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Required information [The following information applies to the questions displayed below.] Rick, who is single, has been offered a position as a city landscape consultant.
Required information
[The following information applies to the questions displayed below.]
Rick, who is single, has been offered a position as a city landscape consultant. The position pays $137,000 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions. (Use the tax rate schedules.)
a. What is the amount of Ricks after-tax compensation (ignore payroll taxes)? (Round your intermediate calculations and final answer to the nearest whole dollar amount. Enter deductions as negative amounts).
Description Amount $ 137,000 $ 137,000 (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Taxable income (6) Income tax liability $ 137,000 After-tax compensation Description Amount $ 137,000 $ 137,000 (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Taxable income (6) Income tax liability $ 137,000 After-tax compensation
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