(SOLVED) In January Ms NW projects that her employer

will withhold
In January, Ms. NW projects that her employer will withhold $25,000 from her 2016 salary.
However, she has income from several other sources and must make quarterly estimated tax
payments. Compute the quarterly payments that result in a 2016 safe- harbor estimate
assuming that: a. Her 2015 AGI was $176,000, […]

Jaclyn Biggs, who files as a head of household, never paid AMT before 2015. In 2015, her
$197,900 taxable income included $178,000 ordinary income and a $19,900 capital gain taxed
at 15 percent. Her 2015 AMTI in excess of her exemption amount was $218,175. a. Compute
Jaclyn’s total income tax […]

In each of the following cases, compute AMT (if any). For all cases, assume that tax-able
income does not include any dividend income or capital gain. a. Mr. and Mrs. BH’s taxable
income on their joint return was $200,000, and their AMTI before exemption was $203,000. b.
Mr. CK’s taxable […]

Mr. and Mrs. Coulter have four dependent children, ages 1, 4, 7, and 11. Mr. Coulter’s salary
was $21,400, Mrs. Coulter’s wages totaled $16,200, and the couple had no other income or
above-the-line deductions this year. The Coulters paid $3,600 for day care and after-school
child care. a. Compute the […]

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Mr. and Mrs. OP have two dependent children. They paid $7,200 wages to a housekeeper to
care for the children and $549 employer payroll tax on her wages. Mr. and Mrs. OP file a joint
return. In each of the following cases, compute their dependent care credit: a. One child […]

Ms. GW, an unmarried taxpayer, had the following income items: Salary …………………………………..
$33,400 Net income from a rental house ……….. 3,200 Ms. GW has a four-year-old son, who
attends a day care center while she is at work. Ms. GW paid $4,380 to this center and has no
itemized deductions. […]

Mr. M’s salary was $177,000, and Mrs. M’s salary was $114,000. They had no other income
items, no above-the-line or itemized deductions, and no dependents. a. Compute their tax on a
joint return. b. Compute their combined tax if they file separate returns (married filing
separately). c. Compute their marriage […]

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