Questions from General Taxation

Q: Go to the IRS website (www.irs.gov)

Go to the IRS website (www.irs.gov) and redo Problem 7 using the most recent Form 6252, Installment Sale Income. Print out the completed Form 6252.

Q: Phan Mai is single with two dependent children under age 17.

Phan Mai is single with two dependent children under age 17. Phan estimates her wages for the year will be $36,000, will have $5,700 of dependent care expenses, and her itemized deductions will be $11...

Q: Ralph and Kathy Gump are married with one 20-year-

Ralph and Kathy Gump are married with one 20-year-old dependent child. Ralph earns a total of $39,000 and estimates their itemized deductions to be $16,000 for the year. Kathy is not employed. Use For...

Q: Is land allowed to be depreciated? Why or why not?

Is land allowed to be depreciated? Why or why not?

Q: Sophie is a single taxpayer. For the first payroll period in

Sophie is a single taxpayer. For the first payroll period in October 2016, she is paid wages of $3,280.50 monthly. Sophie claims three allowances on her Form W-4. a. Use the percentage method to calcu...

Q: Big Bull restaurant employs twenty-three employees who receive tips.

Big Bull restaurant employs twenty-three employees who receive tips. During the current year, Big Bull has $410,000 in gross revenues, and its employees do not report any tip income. In what ways may...

Q: Alice West (Social Security number 785-23-9873)

Alice West (Social Security number 785-23-9873) lives at 13234 Madison Street, Milwaukee, WI 53214, and is self-employed for 2016. She estimates her required annual estimated tax payment for 2016 to b...

Q: Go to the IRS website (www.irs.gov)

Go to the IRS website (www.irs.gov) and redo Problem 5 using the most recent interactive Form 1040-ES. Print out the completed Form 1040-ES.

Q: Jenny earns $44,500 in 2016. Calculate the FICA

Jenny earns $44,500 in 2016. Calculate the FICA tax that must be paid by:

Q: Yolanda earns $123,000 in 2016. Calculate the FICA

Yolanda earns $123,000 in 2016. Calculate the FICA tax that must be paid by: