12 Answered Questions for the topic tax preparation

Tax Preparation Accounting Tax Accounting

09/03/20

Are the LT capital gains tax rates based off gross income or AGI?

Say a single filer has 2019 wages of $50,000 and LT capital gains of $10,000. Would I use $60,000 to determine my capital gains tax rate or $47,800 ($60,000 less the 2019 standard deduction)? I... more
Tax Preparation Tax Accounting

04/22/20

What tax form scheduale can be used for MACRS

·       If I have assets placed in service before 2019 on Form 4562, line 17. What Supporting Schedule can be used to show the depreciation?
Tax Preparation Tax Accounting

11/19/18

Filing status exemptions and eitc?

Karla is 25, unmarried and was a full-time student from January through June. Karla worked part time but did not provide more than 50% support for herself or her son Sam, who is 1. Karla and Sam... more
Tax Preparation Functions

10/19/18

Piece Wise Function for Taxes

The total income is $35000The tax rate on all taxable income is 15% which makes the taxable income is $24600 (I think)Write a function to model the total tax paid, T(x), with a total income of x... more
Tax Preparation Tax Accounting

09/17/18

Tax preparation

Elise worked for 30 years for her employer. She has decided to retire. Elise is 60 years old. She contributed $15,000 pre-tax to her qualified employee pension plan. Elise will receive from the... more
Tax Preparation

01/17/18

There is a big difference between improvements and repairs. The cost of property improvements generally must be capitalized and depreciated over several years (

a. Improvements are actions that marginally add to the value of the property and does not substantially prolong its life. b. Improvements are actions that brings a property back to its original... more
Tax Preparation

02/06/17

tax rate??

Find the amount of tax and the tax rate. If necessary, round to nearest tenth of a percent. Cost of item: $156 Selling price: $183.30 a. Find the Tax. Include the dollar sign in your answer. b.... more
Tax Preparation

07/23/16

where do you report the "interest on allied savings" when filing individual tax return?

also where do you report "withholding", "FICA/Medicare" when filing individual income tax return?
Tax Preparation

06/24/16

Tax Credit

Sam and Melissa are in the 10% tax bracket and itemize their deductions. How much will their tax bill be reduced if they qualify for a $1100 tax credit?
Tax Preparation

01/13/15

what is 9 line other income on a wage use for

I would like to know what this line is use for line 9 other income  on a wage form I don't want to put my income in the wrong place 
Tax Preparation

06/10/14

Please help me the question is in the description box it was to long

Shana wants to buy a new bicycle that has a retail price of 259.99. She knows that it will be on sale next week for 30% off the retail price. If the tax rate is 7%, find the total amount, to the... more
Tax Preparation Business Law Tax Accounting

01/18/14

What can I file for?

I have been currently unemployed for the whole 2013 year, and tax season is coming up here soon and I was wondering what I could file for? During the year I purchased a 2013 TDI Jetta, can I get... more

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