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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.

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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. The position pays $125,000 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions. (Use the tax rate schedules: b-1. Suppose Rick receives a competing job offer of $120,000 in cash compensation and nontaxable (excluded) benefits worth $5,000. What is the amount of Rick's after-tax compensation for the competing offer? (Round your intermediate calculations and final answer to the nearest whole dollar amount. Enter deductions as negative amounts). Amount Description (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Taxable income (6) Income tax liability Total after-tax compensation b-2. Which job should he take if taxes are the only concern? O Landscape consultant O Competing job If taxable income is over: But not over: The tax is: $ 0 $ 9,525 10% of taxable income $ 9,525 $ 38,700 952.50 plus 12% of the excess over $9,525 $ 38,700 $ 82,500 $4.453.50 plus 22% of the excess over $38.700 $ 82,500 $157,500 $14.089.50 plus 24% of the excess over $82,500 $157,500 $200,000 $32.089.50 plus 32% of the excess over $157,500 $200,000 $500,000 $45,689.50 plus 35% of the excess over $200.000 $500,000 $150,689.50 plus 37% of the excess over $500.000 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: $ 0 $ 19,050 10% of taxable income $ 19,050 $ 77,400 $1,905 plus 12% of the excess over $19.050 $ 77,400 $165,000 $8.907 plus 22% of the excess over $77.400 $165,000 $315,000 $28.179 plus 24% of the excess over $165,000 $315,000 $400,000 S64.179 plus 32% of the excess over $315,000 $400,000 $600,000 $91,379 plus 35% of the excess over $400.000 $600,000 $161,379 plus 37% of the excess over $600.000 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $ 0 $ 13,600 10% of taxable income $ 13,600 $ 51,800 $1.360 plus 12% of the excess over $13.600 $ 51,800 $ 82,500 $5,944 plus 22% of the excess over $51.800 $ 82,500 $157,500 $12.698 plus 24% of the excess over $82,500 $157,500 $200,000 S3 598 plus 32% of the excess over $157,500 $200,000 $500,000 $44.298 plus 35% of the excess over $200.000 $500,000 $149,298 plus 37% of the excess over $500,000 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: $ 0 $ 9,525 10% of taxable income $ 9,525 $ 38,700 $952.50 plus 12% of the excess over $9,525 $ 38,700 $ 82,500 $4.453.50 plus 22% of the excess over $38.700 $ 82,500 $157,500 S14,089.50 plus 24% of the excess over $82,500 $157,500 $200,000 $32,089.50 plus 32% of the excess over $157,500 $200,000 $300,000 S45,689.50 plus 35% of the excess over $200.000

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