Charles and Joan Thompson file a joint return. In 2015, they had taxable income of $98,620 and paid tax of $16,604. Charles is an advertising executive, and Joan is a college professor. During the fall 2016 semester, Joan is planning to take a leave of absence without pay. The Thompsons expect their taxable income to drop to $79,500 in 2016. They expect their 2016 tax liability will be $11,594, which will be the approximate amount of their withholding. Joan anticipates that she will work on academic research during the fall semester.
During September, Joan decides to perform consulting services for some local businesses. Charles and Joan had not anticipated this development. Joan is paid a total of $31,500 during October, November, and December for her work. Use the appropriate Tax Rate Schedules.
What estimated tax payments are Charles and Joan required to make, if any, for tax year 2016?
Answers: 3
Business, 22.06.2019 11:10, macylen3900
Verizon communications, inc., provides the following footnote relating to its leasing activities in its 10-k report. the aggregate minimum rental commitments under noncancelable leases for the periods shown at december 31, 2010, are as follows: years (dollars in millions) capital leases operatingleases 2011 $97 $1,898 2012 74 1,720 2013 70 1,471 2014 54 1,255 2015 42 1,012 thereafter 81 5,277 total minimum 418 $ 12,633 rental commitments less interest and (86) executory costs present value of 332 minimum lease payments less current (75) installments long-term obligation $257 at december 31, 2010 (a) confirm that verizon capitalized its capital leases using a rate of 7.4 %. (b) compute the present value of verizon's operating leases, assuming an 7.4% discount rate and rounding the remaining lease term to 3 decimal places. (use a financial calculator or excel to compute. do not round until your final answers. round each answer to the nearest whole number.)
Answers: 2
Business, 22.06.2019 17:00, staffordkimberly
Explain how can you avoid conflict by adjusting
Answers: 1
Business, 22.06.2019 19:20, kristen17diaz
Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.
Answers: 1
Charles and Joan Thompson file a joint return. In 2015, they had taxable income of $98,620 and paid...
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