Questions from Individual Taxation

Q: Matt and Meg Comer are married. They do not have any

Matt and Meg Comer are married. They do not have any children. Matt works as a history professor at a local university and earns a salary of $64,000. Meg works part-time at the same university. She ea...

Q: Reba Dixon is a fifth grade school teacher who earned a salary

Reba Dixon is a fifth grade school teacher who earned a salary of $38,000 in 2016. She is 45 years old and has been divorced for four years. She received $1,200 of alimony payments each month from her...

Q: John and Sandy Ferguson got married eight years ago and have a

John and Sandy Ferguson got married eight years ago and have a seven-year old daughter Samantha. In 2016, John worked as a computer technician at a local university earning a salary of $52,000, and Sa...

Q: In 2016, Jack and Diane Heart are married with two children

In 2016, Jack and Diane Heart are married with two children, ages 10 and 12. Jack works full-time and earns an annual salary of $80,000, while Diane works as a substitute teacher and earns approximate...

Q: Matt and Carrie are married, have two children, and file

Matt and Carrie are married, have two children, and file a joint return. Their daughter Katie is 19 years old and was a full-time student at State University. During 2016, she completed her freshman y...

Q: When a taxpayer works as an employee and as a self-

When a taxpayer works as an employee and as a self-employed independent contractor during the year, how does the taxpayer determine her employment and self-employment taxes payable?

Q: What are the primary factors to consider when deciding whether a worker

What are the primary factors to consider when deciding whether a worker should be considered an employee or a self-employed taxpayer for tax purposes?

Q: How do the tax consequences of being an employee differ from those

How do the tax consequences of being an employee differ from those of being self-employed?

Q: Jim files single and has three dependent children. Calculate his deductible

Jim files single and has three dependent children. Calculate his deductible total personal and dependency exemptions under the following independent conditions: a. Jim has AGI of $150,000. b. Jim...

Q: Mike wanted to work for a CPA firm but he also wanted

Mike wanted to work for a CPA firm but he also wanted to work on his father’s farm in Montana. Because the CPA firm wanted Mike to be happy, they offered to let him work for them as an independent con...