About the tax liability

Assignment Help Financial Accounting
Reference no: EM131286725

Tax Liability:

Julie 26 years old with one 4 year old child she adopted two years ago. She is not married. ( she was a child actress, and has some investments.) She was divorced last year and receives $862 Monthly child support from ex husband (child lives with her) She claims child as a dependent.

$51,720 Her salary as nanny for a local lawyer. Her child comes with her when she is working.

$56,720 Inheritence she received when Aunt July died

$131 Bond interest on City of Atlanta Bonds She bought some series EE bonds this year…They mature in 10 years She will use funds for retirement savings.

$431 Interest accrued this year

$1,724 Interest received when 2 year CD matured this year

$775.8 Interest earned last year

$948.2 Interest earned on CD this year

$28,360 Principal received on CD at maturity

$2,586 Price she paid for stock she bought in 2014

$3,879 Amount she received on sale of the stock

$1,293 Price she paid for Atlanta bonds she bought in November 2015

$1,810.2 Amount she received on sale of the bonds in September 2016

$10,344 Price she paid for some land she bought in 2013

$7,758 Amount she received on sale of the land in 2016

Question: Compute Julie's tax liability for 2016.

Reference no: EM131286725

Questions Cloud

Compute daniels tax liability : Daniel is 23 years old. He works off and on as an actor. The rest of the time he works about 300 hours a year for the Red Cross a charity. He is a volunteer and isn't paid, but if he was paid the Red Cross would pay him: Compute Daniel's tax liabilit..
Complete the article about buy a remeron : Complete the Article about buy a Remeron.Looking for a remeron? Not a problem! Buy remeron online
Role of government in regulating ethical behavior : There are a topic about business ethic :"During this class, we have discussed the role of government in regulating the ethical behavior of companies. We have called it the institutionalization of ethics.
Process groups and the project life cycle structure : Research the project management process groups and the project life cycle structure in the PMBOK® Guide, then respond to the following:
About the tax liability : Tax Liability: Julie 26 years old with one 4 year old child she adopted two years ago. She is not married. ( she was a child actress, and has some investments.) She was divorced last year and receives $862 Monthly child support from ex husband (child..
Critical reflection assignment : At least 5 pages, APA formatHow culture emerges in an organization and how it links to organization's founders, leaders, and history.The significance of reasoning for organizational culture change.
Determine the distance x that locates g : The two-force and three-force principles where appropriate. Neglect weights of members unless specified otherwise. When suspended from two cables, the rocket assumes the equilibrium position shown. Determine the distance x that locates G, the cent..
Write a business memo addressed to michael barnes : Write a business memo addressed to Michael Barnes, Chief Investment Officer at the Glass House Investment Fund. The purpose of your memo is to provide the results of the financial analysis of your pharmaceutical company.
Communication across genders : Communication Across Genders Please study communication across genders. Apply the following guidelines in ALL of your assignments: 1. Two full typed pages, double spaced.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd