User Account

All Pages

Define additional state income tax estimated payment

Assignment Help Accounting Basics
Reference no: EM131746508

Colin (age 40) is single, itemizes his deductions, and has AGI of $100,000. Colin provided the following information about his cash expenditures for 2016:

Interest on American Express card 1,200
Points to refinance his home for 10 years at the end of December 2,600
Mortgage interest payments on $250,000 principal amount 11,800
Real estate taxes 2,100
State income taxes withheld on salary 5,400
Additional state income tax estimated payment 1,200
Contribution to Republican Party 2,000
Contribution to United Way 500

If Colin itemizes, what are his total itemized deductions in 2016:

a. $18,100
b. $21,000
c. $24,200
d. $27,000

Reference no: EM131746508

Questions Cloud

Define general ledger account purchases : Records all its inventory acquisitions in a General Ledger account Purchases
Define how much can sebastian and kaitlin deduct : How much can Sebastian and Kaitlin deduct for interest expense for 2016
What arguments made as to why african-americans should have : What arguments are made as to why African-Americans should have their own, separate institutions?
What is the probability that there will be no missing pieces : What is the probability that there will be no missing pieces in the package - What is the probability that each will have no more than one missing piece
Define additional state income tax estimated payment : If Colin itemizes, what are his total itemized deductions, Define Additional state income tax estimated payment
Describe at least three policy implementation approaches : Evaluate issues related to student protection, protected freedoms and rights, government necessity, and other influences;
Discuss recorded cash on the balance sheet : What is the difference between recorded revenues on the income statement and recorded cash on the balance sheet
Discuss your chosen business idea for amazon : Discuss your chosen business idea, product, or service for Amazon and why you think it will be successful in the marketplace in the face of global competition.
Compute labor productivity under each system : Compute labor productivity under each system. Use traps per worker per hour as the measure of labor productivity.

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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