User Account

All Pages

Compute the amount of ginas tax liability

Assignment Help Taxation
Reference no: EM13846507

Gina Lewis, age 12, is claimed as a dependent on her parent's return. She is their only child. During 2014, she earned $2,300 from a summer job. She also earned interest of $2,750. Her parents' marginal tax rate is 28 percent.

Required: a. Compute the amount of Gina's tax liability for 2014. b. Can Gina's parents take a child tax credit for her?

Reference no: EM13846507

Questions Cloud

Compare paiges current income tax : Required: Compare Paige current income tax assuming she operates the business as a proprietorship, an S corporation, and a C corporation. Ignore payroll and other taxes.
Completing the managerial roles gap analysis : What did you learn from completing the "Managerial Roles Gap Analysis" and which of Mintzberg's managerial roles are most important for managing in complex, changing workplace environme Why?
Differences between childbearing practices : Submit a 1,000-1,500-word essay on the differences between childbearing practices. These can include hypnobirthing, medical childbirth, cesarean, and others
How you would implement such a program logistically : Finally, you will discuss how you would implement such a program logistically (e.g., who specifically would you target for your program and why? Where would this program be based?)
Compute the amount of ginas tax liability : Gina Lewis, age 12, is claimed as a dependent on her parent's return. She is their only child. During 2014, she earned $2,300 from a summer job. Compute the amount of Gina's tax liability for 2014.
Specific factors model-heckscher-ohlin model : Consider a country that produces shirts and autos. Shirts are produced with sewing machines (specific factor) and labor while autos are produced using robots (specific factor) and labor. Labor is mobile between industries. The country is initially..
Increasing of ageing population : The increasing of ageing population might lead to certain issues; the first one we need to face will be the public debt. Ageing population when they retired, the consumption exceeds income and investments will exceed Savings.
Create a plan for reducing sti or hiv transmission : Create a plan for reducing STI or HIV transmission. The plan should address: The variables your group will try to affect. The target audience. The methods your group would use
What is erin and adams tax liability : What is Erin and Adam's tax liability if they file a joint return? What is Erin and Adam's total tax liability if they file separate returns and Adam's parents claim him as a dependent?

Reviews

Write a Review

Taxation Questions & Answers

  Foundation''s request for tax exemption

the proceeds of that auction returned to unique donors to the Foundation, would this alternative provision affect the Foundation's request for tax exemption and how?

  Create a scenario where a like-kind exchange transaction

Create a scenario where a like-kind exchange transaction occurs between two (2) family members for dissimilar types of property.

  Difference between tax payable and tax effect method

Explain the difference between the 'tax payable' and 'tax effect' methods of accounting for income tax and discuss  the 'balance sheet' approach to accounting for income tax.

  What is the tax savings from the special tax treatment

If Daniel's marginal tax rate is 35 percent and he has $120,000 of other capital gains (taxed at 15 percent), what is the tax savings from the special tax treatment?

  Qbarkins moving company specializes in hauling heavy goods

qbarkins moving company specializes in hauling heavy goods over extended distances. the companys expenses and revenues

  Identify any relevant statutory and regulatory

Jennifer Woods is 32 years old and for the last six years has been employedas a manager by Ski USA, a distributor of ski equipment and boots. In thepast two years as a professional bicycle racer she has participated inapproximately 50 races annual..

  What are the tax implications of these two alternatives

Ricardo is a professional football player. In negotiating his contract for the upcoming season, Ricardo is given two options. He can receive (1) twelve monthly checks of $325,000 with no deferred payments.

  Factsjohn alan kelly and rosalyn elaine kelly a married

factsjohn alan kelly and rosalyn elaine kelly a married couple live at 3822 robin lane houston texas 77049-7236.nbsp

  What is kellys deductible theft loss in current year

What is Kelly's deductible theft loss in the current year and what is Kelly's deductible theft loss in the current year if the theft is not discovered, until January of the following year?

  In the market for air filters demand is represented by the

in the market for air filters demand is represented by the function p110-4qd and supply is represented by the function

  Transactions on the taxable business income

Discuss business with Joe during this visit, but Joe wants to maintain good relations to encourage additional business next year - Determine the effect of each of the transactions on the taxable business income.

  Determine the net income after taxes

Determine the net income after taxes if the leases are treated as capital leases and determine the return on assets under the (a) operating lease assumption and (b) capital lease assumption.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd