Reference no: EM131794221
Wendy White (I.D. No. 526-30-9001), age 29, is single. She lives at 1402 Pacific Beach Ave., San Diego, CA 92230. Wendy is employed by KXXR television station as the evening news anchor. An examination of her records for 2015 revealed the following information.
a. Wendy earned $150,000 in salary. Her employer withheld $40,000 in Federal income taxes and the proper amount of FICA taxes.
b. Wendy also received $10,000 in self-employment income from personal appearances during the year. Her unreimbursed expenses related to this income were: transportation and lodging, $523; meals, $120; and office supplies, $58.
c. Wendy reports the following additional deductions: home mortgage interest, $6,250; charitable contributions, $1,300; state and local income taxes, $3,100; and employment-related expenses, $920.
Compute Wendy's taxable income for 2015 and her tax due (including any self-employment tax).
|
What are the current prices for each of the given bonds
: What are the current prices for each of these bonds? How will the value of these bonds change if the respective market rates increase by 50 basis points?
|
|
Sole motivation of our moral acts
: we can say that self-interest is not the sole motivation of our moral acts?
|
|
What is an intangible asset
: Can I get some help answering these questions? In general, what is an intangible asset? Give several examples of intangible assets.
|
|
What are the major risk factors inherent with subprime loans
: What are the major risk factors inherent with subprime loans and how did these loans contribute to the financial crisis?
|
|
Discuss federal income taxes and proper amount of fica taxes
: Wendy earned $150,000 in salary. Her employer withheld $40,000 in Federal income taxes and the proper amount of FICA taxes
|
|
Present your position on the application of the aicpa code
: Present your position on whether the application of the AICPA Code to all of Accountancy, including both the firms and those in employment at any level.
|
|
Calculate the after-tax cost of the debt issue
: MTD Inc. has a new bond issue that will net the firm $1, 603, 500. The bonds have a $1, 500,000 par value, pay interest annually at a 6% coupon rate.
|
|
Prepare a schedule to show the balance jenkins should report
: Required: Prepare a schedule to show the balance Jenkins should report as its Investment in Bolivar Co. at December 31, 2011
|
|
Auditor from issuing an unqualified-unmodified opinion
: Discuss the conditions that prohibit the auditor from issuing an unqualified/unmodified opinion?
|