User Account

All Pages

Find what is tax liability for miguel

Assignment Help Accounting Basics
Reference no: EM132654221

Problem 1: Miguel is 71 years old and his wife, Carmelita, is 57 years old. Miguel is retired and receives Social Security in the amount of $19,260 per year. Carmelita withdrew $7,500 from her IRA. Miguel and Carmelita are filing a joint return and use the standard deduction; they have no other income to report. What is their tax liability?

Select one:

a. $856
b. $106
c. $750
d. $ 0

Reference no: EM132654221

Questions Cloud

What amount of federal taxes must pay : Doris was 70 ½ on May 20, 2018. Assume that her federal tax rate is 22%. What amount of federal taxes must she pay on her $3,000 withdrawal?
What role did policy and legalities play in the disaster : Conduct a thorough, critical analysis of the article and its points. Support your analysis with critical thinking that clearly demonstrates an informed.
Security and liberty and homeland security bureaucracy : Benjamin Franklin said, "Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety."
Discussion focuses on the transformation of sport television : Discussion focuses on the transformation of sports television and the emergence of new OTT models. How would you respond to the recent subscriber loss trends?
Find what is tax liability for miguel : Find What is their tax liability? Miguel and Carmelita are filing a joint return and use the standard deduction; they have no other income to report.
Why the auditor would be concerned about engagement risk : Discuss why the auditor would be concerned about engagement risk and identify two or more activities the auditors might perform to reduce engagement risk
Difference between being a manager and being a leader : In your opinion, what is the difference between being a manager and being a leader? Read research findings by Kabacoff (1998) that, although men and women.
What is the correct amount of self-employment tax : Kevin operates a floral retail store as a sole proprietorship. During tax year 2019, What is the correct amount of his self-employment tax?
Dedicated to discussion of organizational effectiveness : Dedicated to the discussion of organizational effectiveness. In your own words, define organizational effectiveness and how it is measured?

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