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 $141,800 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 Rick's 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 (1 Gross income $ 141,800 (2) For AGI deductions djusted gross income (4) Standard deduction (5) Taxable income $141,800 (12,000) $ 129,800 $ 25,442 $ 104,358 (6) Income tax liability After-tax compensation 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 $141,800 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 $134,000 in cash compensation and nontaxable (excluded) benefits worth $7,800 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). Description Amount (1) Gross income (2) For AGI deductions (3) Adjusted gross income $ 134,000 (4) Standard deduction (5) Taxable income (6) Income tax liability 134,000 (12,000) $ 122,000 Total after-tax compensation $ 92,502 Required information [The following information applies to the questions displayed below.] Jasper and Crewella Dahvill were married in year O. They filed joint tax returns in years 1 and 2.In year 3their relationship was strained and Jasper insisted on filing a separate tax return. In year 4, the couple divorced. Both Jasper and Crewella filed single tax returns in year 4. In year 5, the IRS audited the couple's joint year 2 tax return and each spouse's separate year 3 tax returns. The IRS determined that the year 2 joint return and Crewella's separate year 3 tax return understated Crewella's self-employment income, causing the joint return year 2 tax liability to be understated by $8,900 and Crewella's year 3 separate return tax liability to be understated by $10,650. The IRS also assessed penalties and interest on both of these tax returns. Try as it might, the IRS has not been able to locate Crewella, but they have been able to find Jasper. a. What amount of tax can the IRS require Jasper to pay for the Dahvill's year 2 joint return? mount of tax Required information The following information applies to the questions displayed below. Jasper and Crewella Dahvill were married in year O. They filed joint tax returns in years 1 and 2. In year 3, their relationship was strained and Jasper insisted on filing a separate tax return. In year 4, the couple divorced. Both Jasper and Crewella filed single tax returns in year 4. In year 5, the IRS audited the couple's joint year 2 tax return and each spouse's separate year 3 tax returns. The IRS determined that the year 2 joint return and Crewella's separate year 3 tax return understated Crewella's self-employment income, causing the joint return year 2 tax liability to be understated by $8,900 and Crewella's year 3 separate return tax liability to be understated by $10,650. The IRS also assessed penalties and interest on both of these tax returns. Try as it might, the IRS has not been able to locate Crewella, but they have been able to find Jasper b. What amount of tax can the IRS require Jasper to pay for Crewella's year 3 separate tax return? mount of tax
