subject
Business, 14.03.2020 04:02 BIKRAMlawati9684

Nathan Cohen , age 45, is a single taxpayer who lives at 2245 Mardel St., San Jose, CA 95130. His social security number is 351-42-1961. Nathans earnings and withholdings as a marketing director at a high-tech company for 2014 are:Earnings from Placeware, Inc. $297,000 (this is after subtracting his health insurance premiums see below)Federal Income tax withheld $50,000State income tax withheld $23,500Other facts and possibly useful information:Nathan earns interest on a savings account at Bank of the West of $13,075.Nathan is divorced and pays his ex-wife $4,000 per month. When their 15-year old daughter (who lives 100% with the ex-wife) reaches 18, the payments drop to $2,800 per month. His ex-wifes social security number is 857-51-6438. Nathan does not claim his daughter as a dependent. Nathan paid the following amounts (he has records to prove payment):California DMV renewal taxes (the value based part) : $300Credit card interest expense $1,760Auto Loan interest expense $4,300Property taxes on his home $6,200Blue Cross health insurance premiums $1,800 withheld from his paycheck. Other medical expenses $790Income tax preparation fees for his 2013 income tax return $900Federal 2013 income taxes paid in April 2014 when he filed his 2013 federal income tax return $1,825California 2013 income taxes paid in April 2014 when he filed his 2013 California tax return $500Check to Boy Scouts of America $1,100Check for fundraiser to build a new building at Harker School, where his daughter goes, $8,000. This payment was not related to tuition and neither Nathan nor his family received any specific benefits. Check to St. Andrews Church $10,000Stanford Business School Alumni Association $12,000 (fundraiser to support the business school)Silicon Valley Republican Party Fund $1,000 (2014 campaign fundraiser)Nathan paid $100 to attend a fundraising dinner at the Tech Museum of Innovation, the value of the dinner is $50.Nathan received a Form 1098 Mortgage Interest Statement from Bank of the West indicating $19,700 of interest expense on his mortgage (a qualified acquisition mortgage)Complete Nathans Form 1040, Schedule A and Schedule B. Dont forget he paid state taxes. If you need to make assumptions, they should be realistic. Hint: remember that deductions and exemptions may be limited. Your check figure: Nathans Form 1040 Line 75 is $2,599.

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 11:00
How did the contribution of the goods producing sector to gdp growth change between 2010 and 2011 a. it fell by 0.3%. b. it fell by 2.3%. c. it rose by 2.3%. d. it rose by 0.6%. the answer is b
Answers: 1
question
Business, 22.06.2019 16:40
Determine the hrm’s role in the performance management process and explain how to ensure the process aligns with the organization’s strategic plan.
Answers: 1
question
Business, 22.06.2019 20:20
Levine inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. direct materials (9 pounds at $1.80 per pound) $16.20 direct labor (6 hours at $14.00 per hour) $84.00 during the month of april, the company manufactures 270 units and incurs the following actual costs. direct materials purchased and used (2,500 pounds) $5,000 direct labor (1,660 hours) $22,908 compute the total, price, and quantity variances for materials and labor.
Answers: 2
question
Business, 22.06.2019 20:30
What could cause a production possibilities curve to move down and to the left? a.) a nation loses land after being defeated in a war. b.) an increase in the use of computer technology speeds up production c.) a baby boom 20 years ago results in a large number of young adults in the population today. d.) thousands of investors from overseas invest money in a nations economy.
Answers: 1
You know the right answer?
Nathan Cohen , age 45, is a single taxpayer who lives at 2245 Mardel St., San Jose, CA 95130. His so...
Questions
question
Biology, 30.10.2020 07:40
question
English, 30.10.2020 07:40
question
English, 30.10.2020 07:40
question
English, 30.10.2020 07:40
Questions on the website: 13722363