User Account

All Pages

What is the amount of state income taxes joyce may include

Assignment Help Accounting Basics
Reference no: EM131915395

Questions -

1. Why are expenses related to tax-exempt income disallowed?

2. Deduction of Taxes. Joyce is a single, cash-method taxpayer. On April 11, 2012, Joyce paid $120 State income taxes with her 2011 state income tax return. During 2012, Joyce had $1,600 in state income taxes withheld. On April 13, 2013, Joyce paid $200 with her 2012 state tax return. During 2013, she had $2,100 in state income taxes withheld from her paycheck. Upon filing her 2013 tax return on April 15, 2013, she received a refund of $450 for excess state income taxes withheld. Joyce had total AGI in 2013 and 2014 of $51,000 and $53,500, respectively. In 2013, Joyce also paid $5,500 in qualified residence interest.

a. What is the amount of state income taxes Joyce may include as an itemized deduction for 2012?

b. What is the allowed itemized deduction for state income taxes for 2013?

c. What is her taxable income for 2013?

d. What is her AGI for 2014?

Reference no: EM131915395

Questions Cloud

Write a paragraph on why you are a patriot : Write a paragraph on why you are a Patriot and write a paragraph trying to persuade a moderate to become a Patriot.
Discuss about the certification in human subjects protection : Certification in Human Subjects Protection is required for anyone who wishes to work on research studies at an institution with an institutional review board.
What is the real rate of return on bond : What is the real rate of return on this bond? 1.04 percent 2.42 percent 3.00 percent 4.13 percent 10.25 percent
Analysis on remuneration package of international assignees : Analysis on the remuneration package of the international assignees. The remuneration package of the international assignees taking into consideration.
What is the amount of state income taxes joyce may include : Deduction of Taxes. Joyce is a single, cash-method taxpayer. What is the amount of state income taxes Joyce may include as an itemized deduction for 2012
Assess marketing concepts and situations : Discuss how the concepts help align the organization's values with your values. Explain the reasoning leading to these conclusions.
Average of that implied by two outstanding debt issues : Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues.
Analyze what you are seeing on the map : Analyze what you are seeing on the map. You will make a well-organized argument, support that through research, and then write a conclusion for your findings.
Briefly discuss the istanbul stock market : Briefly discuss the Istanbul Stock Market?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Here are 2 hypothetical examples of manufacturing

here are 2 hypothetical examples of manufacturing companiesltbr gt1. williams watches builds fine watches by hand sell

  Determine the net present value of alternative 1

Interstate Manufacturing is considering either replacing one of its old machines, Determine the net present value of alternative 1

  Prepare statement showing how cash distribution should made

X, Y and Z are partner sharing profits and losses in the ratio of 5:3:2 respectively. Prepare a statement showing how the cash distribution should be made

  Journalize the transactions for reconciliation transactions

Journalize the transactions. For reconciliation transactions, entries should be made in chronological order of account creation from receipts

  Imposes a tax on the operation of slot machines

Can Iowa charge a higher maximum rate to racetrack owners than it does to riverboat owners without violating the equal protection clause of the U.S. Constitution?

  Savallas company is highly automated and uses computers to

savallas company is highly automated and uses computers to control manufacturing operations. the company uses a

  Should be on 2012 forms and done in pencil it should

should be on 2012 forms and done in pencil. it should include a schedule that shows the fiduciary income calculation

  On february 12 6000 shares of lucas company are acquired at

on february 12 6000 shares of lucas company are acquired at aprice of 22 per share plus a 240 brokerage fee. on april22

  Compute the npv if the minimum rate of return desired is 18

the jackson city park department is considering the purchase of a new more efficient pool heater for its moorcroft

  Johnny bravo company began operations in 2012

Johnny Bravo Company began operations in 2012 and has provided the following information.1. Pretax financial income for 2012 is $100,000. 2. The tax rate enacted for 2012 and future years is 40%.

  Prepare an incremental analysis for the special order

Leno Company manufactures toasters. For the first 8 months of 2014, the company reported. Prepare an incremental analysis for the special order.

  Using the following purchases journal

Using the following purchases journal, identify each of the posting references, indicated by a letter, as representing

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