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What would question 1 look like on the correct tax form? Problem 1 Matthew B. (age 42) and Courtney & Cage 41) Mumford are married
What would question 1 look like on the correct tax form?
Problem 1 Matthew B. (age 42) and Courtney & Cage 41) Mumford are married and live at 11426 W. Antelope Drive, Sioux Falls, SD 57107. Matthew is the manager for The Pour House, a popular bar and grill in Sioux Falls. Courtney is a self-employed architect. They are calendar year, cash basis taxpayers. 1. Matthew's annual salary from The Pour House is $98,000. He also earns an annual bonus. The amount is determined in late December based on performance during the year and is paid in January of the following year. Matthew's 10:18 bonus was $6,000 (received in 2010), and his 2010 bonus was $7.000 (received in 2020). Matthew participates in his employer's group health insurance plan to which he contributed $7,200 in 2000 for medical coverage. These contributions are made with after-tax dollars. The health plan covers Matthew, Courtney, and their two dependent children. The Pour House does not provide any retirement benefits, but it has established as 401(k) plan to enable its employees to save for-retirement. Matthew.contributed $19,000 to the plan in 2019. Matthew commutes to and from work 6 days a week (a roundtrip of 18 miles) in the family SUV. During 8070, Matthew drove the SUV a tota! of 12,700 miles. 2 Courtney is a licensed architect who works part time as an architectural consultant. Her professional activity code is 541310. Her major clients are real estate developers (both residential and commercial) for whom she prepares structural designs and construction plans. She also advises on building code requirements regarding the renovation and remodeling of existing structures of the Courtney does some of her work at client locations and the remainder in her oncasat bome (see item 3 below). $12poo rent Problem 1 Matthew B. (age 42) and Courtney & Cage 41) Mumford are married and live at 11426 W. Antelope Drive, Sioux Falls, SD 57107. Matthew is the manager for The Pour House, a popular bar and grill in Sioux Falls. Courtney is a self-employed architect. They are calendar year, cash basis taxpayers. 1. Matthew's annual salary from The Pour House is $98,000. He also earns an annual bonus. The amount is determined in late December based on performance during the year and is paid in January of the following year. Matthew's 10:18 bonus was $6,000 (received in 2010), and his 2010 bonus was $7.000 (received in 2020). Matthew participates in his employer's group health insurance plan to which he contributed $7,200 in 2000 for medical coverage. These contributions are made with after-tax dollars. The health plan covers Matthew, Courtney, and their two dependent children. The Pour House does not provide any retirement benefits, but it has established as 401(k) plan to enable its employees to save for-retirement. Matthew.contributed $19,000 to the plan in 2019. Matthew commutes to and from work 6 days a week (a roundtrip of 18 miles) in the family SUV. During 8070, Matthew drove the SUV a tota! of 12,700 miles. 2 Courtney is a licensed architect who works part time as an architectural consultant. Her professional activity code is 541310. Her major clients are real estate developers (both residential and commercial) for whom she prepares structural designs and construction plans. She also advises on building code requirements regarding the renovation and remodeling of existing structures of the Courtney does some of her work at client locations and the remainder in her oncasat bome (see item 3 below). $12poo rentStep by Step Solution
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