Cemex
November 6, 2019
commercial buildings
November 6, 2019

dollars withheld

Using the tax form, instructions and info attached, answer the following questions.

  1. Assume you are a single person with no dependents who made $35,000.00  from your primary job and an additional $5,500.00 from a part time position.  You had a total of $7,700 dollars withheld in taxes (from both jobs combined) and will take the standard deduction.

Will you get a refund or will you have to pay more tax?  (5 pts.)

What is the amount of the refund/payment?  (5 pts.)

  1. Using the tax tables on page 90 of the instructions, assume a single person has a taxable income of $382,000.00.

What will the single person’s total tax be?  (5 pts.)

What is the single person’s effective tax rate?  (5 pts.)

Submission Format

  1. The length of your response is conditional on the question. Answer fully, but concisely.
  2. Your submissions should be submitted via the assignment dropbox in .doc or .docx format, using 12 pt type and double spacing.
  3. Late submissions will not be accepted, absent documented circumstances that made submission impossible.

Due DateFeb 18, 2018 11:59 PMAttachments2016 1040 Instructions.pdf (3.05 MB)2016 Form 1040.pdf (188.03 KB)Download All Files

 

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dollars withheld was first posted on September 25, 2019 at 1:37 pm.
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dollars withheld was first posted on September 25, 2019 at 1:38 pm.
©2019 "Essay Associates". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at admin@essayassociates.com

 

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