What is the amount of ricks after-tax compensation

Reference no: EM13905715

1. David and Lilly Fernandez have determined their tax liability on their joint tax return to be $1,700. They have made prepayments of $1,500 and also have a child tax credit of $1,000. What is the amount of their tax refund or taxes due?

2. Rick, who is single, has been offered a position as a city landscape consultant. The position pays $125,000 in cash wages. Assume Rick files single and is entitled to one personal exemption. Rick deducts the standard deduction instead of itemized deductions.

a) What is the amount of Rick's after-tax compensation (ignore payroll taxes)?

b) Suppose Rick receives a competing job offer of $120,000 in cash compensation and nontaxable (excluded) benefits worth $4,000. What is the amount of Rick's after-tax compensation for the competing offer? Which job should he take if taxes were the only concern?

Reference no: EM13905715

Questions Cloud

Stand-alone selling price for the comfort office keyboard : On May 1, 2016, Meta Computer, Inc., enters into a contract to sell 9,500 units of Comfort Office Keyboard to one of its clients, Bionics, Inc., at a fixed price of $120,000, to be settled by a cash payment on May 1. The stand-alone selling price for..

Explain how to create a safe environment : Explain how to create a safe environment that will accommodate these explorations. Make sure to share any helpful resources that will help

Vat and shipping : Create an application that determines the total due including VAT and shipping. Allow the user to input any number of the items. VAT 7% is charged against all total purchases. Sfipping charges can be determined from the following chart.

How far is he from the pole at these moments : How far is he from the pole at these moments? Let v represent the speed of sound, and assume that the ground does not reflect sound. (Use f, d, v, and n as necessary where n = 1, 2, ..., nmax.)

What is the amount of ricks after-tax compensation : What is the amount of Rick's after-tax compensation (ignore payroll taxes)? Suppose Rick receives a competing job offer of $120,000 in cash compensation and nontaxable (excluded) benefits worth $4,000.

Maturity amount after the period of deposit : Develop a program that accepts a deposit amount and period of deposit. Calculate the maturity amount after the period of deposit. The bank pays 4% interest per year for any deposits made in the bank.

Krug company purchased merchandise inventory : Prepare any required journal entry

Behaviors of leaders and managers in corporations : What actions and behaviors of leaders and managers in corporations

What is jeremys tax liability including tax on capital gain : Assume that in addition to the original facts, Jeremy has a long-term capital gain of $4,000. What is Jeremy's tax liability including the tax on the capital gain?

User Account

All Pages