Calculate justin''s tax liability after credits

Assignment Help Accounting Basics
Reference no: EM131803850

Question- Prior to the effect of the tax credits, Justin's regular income tax liability is $200,000 and his tentative AMT is $195,000. Justin has the following credits.

Child tax credit: $800
Adoption credit: $5,000

Calculate Justin's tax liability after credits.

Reference no: EM131803850

Questions Cloud

What steps do you think the consultant could have taken : What do you think went wrong? What steps do you think the Appreciative Inquiry consultant could have taken to make the consulting process go better?
Major differences between business and consumer markets : Explain the major differences between business and consumer markets. In business markets, demand is derived, price-inelastic, joint, and fluctuating.
Identify and research a publicized security breach : For the final project, you are required to identify and research a publicized security breach that occurred within the last five years.
What is the estimate of the process mean : If he uses upper and lower control limits of 22 and 18 ounces, on what day(s), if any, does this process appear to be out of control?
Calculate justin''s tax liability after credits : Calculate Justin's tax liability after credits, Prior to the effect of the tax credits, Justin's regular income tax liability
Project - serial investigation : Develop a series of 3 images to explore an idea or concept you have already started exploring this term - The idea behind this project is to investigate
Describe the seven types of business goods and services : Describe the seven types of business goods and services. Major equipment includes capital goods, such as heavy machinery.
Draw diagrams of the john and sally systems : Draw diagrams of the John’s and Sally’ systems. Who has the higher overall probability (reliability) of getting the homework done?
Discuss the unique aspects of business buying behavior : Discuss the unique aspects of business buying behavior. Business buying behavior is distinguished by five fundamental characteristics.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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