Yanni, a single individual, reports the following information for the tax year. Salary .............................................$80,000 State income taxes
Question:
Salary .............................................$80,000
State income taxes .................................6,800
Mortgage interest expense ........................6,200
Charitable contributions ..........................1,500
Interest income ....................................1,300
Personal exemption ...............................4,050
Compute the following for Yanni.
a. Regular taxable income.
b. AMT income.
c. Tentative minimum tax.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 52% (17 reviews)
In 2016 Yannis taxable income a is 62750 his AMTI b ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
South Western Federal Taxation 2017 Comprehensive
ISBN: 9781305874169
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
Question Posted:
Students also viewed these Business Law questions
-
The Wright Company reports the following information for the year ended December 31, 2007: Pretax income from continuing operations ...........$160,000a Pretax gain from sale of investment...
-
The Wharf (Holdings) Limited (Wharf) is a Hong Kong listed Real Estate Development Company. Exhibit 1, below, offers a brief description adapted from the companys 2010 and 2011 annual reports and...
-
Wright Company reports the following information for the year ended December 31, 2016: Pretax income from continuing operations .......... $160,000a Pretax income from operations of discontinued...
-
1. How far can an economist contribute to this normative debate over the desirability of an excise tax? 2. What is the excess burden of a lump-sum tax? (For a clue, see Figure 12.14.)
-
During 2010, Carter Company acquired three assets with the following costs, estimated useful lives, and estimated salvage values: The company uses the straight-line method to depreciate all assets...
-
Learn how to increase your listening eff ectiveness
-
Identify the benefits that companies receive from global sourcing. Why do firms outsource to foreign suppliers? 1239
-
Kate is having a difficult time differentiating all of the account names. My head is spinning when all the accounts sound the same to me! Does unearned revenue belong on the income statement or the...
-
thank s In the current year, a corporate firm has reported a profit of Rs. 65 lakh, after paying taxes @ 35 percent. On close examination, the analyst ascertains that the current year's income...
-
Slater & Gordon (S&G) became the worlds first listed law firm in 2007. The company is headquartered in Melbourne, where it was founded in 1935, by William Slater and Hugh Gordon....
-
Kiki, who incurred intangible drilling costs (IDC) of $94,000 during the year, deducted that amount. Her net oil and gas income for the year was $110,000. Compute Kiki's AMT preference for IDC.
-
Elijah, who is single, holds a $12,000 AMT credit available from year 1. For year 2, Elijah's regular tax liability is $28,000, and his TMT is $24,000. Does Elijah owe any AMT for year 2? If so, how...
-
How can trust affect the success of an alliance? Why is trust more important in an alliance than in a solely owned firm?
-
Haley Romeros had just been appointed vice president of the Rocky Mountain Region of the Bank Services Corporation (BSC). The company provides check processing services for small banks. The banks...
-
Draw a simple but complete hydraulic circuit diagram to drive two actuators, one of which must be connected to a pressure reducing valve to control its pressure because of the delicacy of the task...
-
1. What specific skills would a person have to be a successful director for a parks and recreation position? 2. What experience would a person have working with an elected board for parks and...
-
Required labor time per unit ( hours ) Maximum demand ( units ) Contribution margin per unit Product M 2 6 , 5 0 0 $ 5 . 0 0 Product N 3 8 , 0 0 0 $ 5 . 7 0 If Bush uses the most effective approach...
-
ansewr pls Repeat Exercise 5.8.1 using (a) one rectangle; (b) four rectangles. Data From Exercise 5.8.1 A square plate size \(100 \mathrm{~cm} \times 100 \mathrm{~cm}\) is subjected to an isothermal...
-
Draw the pipeline execution diagram for this code, assuming there are no delay slots and that branches execute in the EX stage. This exercise is intended to help you understand the relationship...
-
For the vector whose polar components are (Vr = 1, Vθ = 0), compute in polars all components of the second covariant derivative Vα;μ;ν. To find...
-
Quanti Co., a calendar year taxpayer, purchased small tools for $5,000 on December 21, 2017, representing the companys only purchase of tangible personal property that took place during 2017. On its...
-
Oleander Corporation, a calendar year entity, begins business on March 1, 2017. The corporation incurs startup expenditures of $64,000. If Oleander elects 195 treatment, determine the total amount...
-
Dennis Harding is considering acquiring a new automobile that he will use 100% for business. The purchase price of the automobile would be $48,500. If Dennis leased the car for five years, the lease...
-
Your company produces a health magazine. Its sales data for 1 - year subscriptions are as follows: Year of Operation Subscriptions Sold % Expired at Year End 2 0 2 0 $ 3 0 0 , 0 0 0 5 2 0 2 1 $ 6 4 7...
-
Problem 3 - 2 0 ( Static ) Calculate profitability and liquidity measures LO 3 - 3 , 3 - 4 , 3 - 6 Presented here are the comparative balance sheets of Hames Incorporated at December 3 1 , 2 0 2 3...
-
3 Required information [The following information applies to the questions displayed below) John and Sandy Ferguson got married eight years ago and have a seven-year-old daughter. Samantha. In 2020,...
Study smarter with the SolutionInn App