Question
Rick, who is single, has been offered a position as a city landscape consultant. The position pays $133,400 in cash wages.Assume Rick has no dependents.
Rick, who is single, has been offered a position as a city landscape consultant. The position pays $133,400 in cash wages.Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. (Use thetax 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.)
Rick, who is single, has been offered a position as a city landscape consultant. The position pays $133,400 in cash wages.Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions and he is not eligible for the qualified business income deduction. (Use thetax rate schedules.)
b-1.Suppose Rick receives a competing job offer of $127,000 in cash compensation and nontaxable (excluded) benefits worth $6,400. 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.)
Which job should he take if taxes are the only concern?
multiple choice
- Landscape consultant
- Competing job
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
