Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. mason has 3 children which are exempt from taxable

Mason has 3 children which are exempt from taxable income of $4,000 each, with annual...

90.2K

Verified Solution

Question

Accounting

Mason has 3 children which are exempt from taxable income of $4,000 each, with annual income of $50,000 in total with wife in 2020 year.

He already paid $8,000 in 2020 year by withholding tax.

How much is his tax? How much is his tax return?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

When testing gas pumps for? accuracy, fuel-quality enforcement specialists tested pumps and found that 1345 of...

Basic Math
Q

Match the entries of column I with the entries of column II Considering all the...

Physics
Q

A couple decides to have three children Let A define the event that the couple...

Statistics
Q

Sample Mean 25 Population Standard Deviation 12 n 125 2 level of significance Is there...

Statistics
Q

Let g(t) = 1/t?Determine the derivative of g.g' (t) =Determine the interval(s) on which g...

Calculus
Q

The campus bookstore has estimated that its profit in dollars from selling x hundred basketball...

Calculus
Q

Objective: The goals of this assignment is to reinforce the mechanics of accounting. ...

Accounting
Q

A company has the following: Income Statement Information: Sales Revenue: $120,000 CoGs: $70,000 Gross Proft:...

Accounting
Q

On January 1, 2019, Camerone Corporation issued $2,000,000 of 12-year, 10% bonds at an effective...

Accounting
Q

The following information is available for Elliot Company. January 1, 2013 2013...

Accounting
Q

On December 28, Kerr Manufacturing Co. purchased goods costing $50,000. The terms were FOB destination....

Accounting
Q

3. The payback period The payback method helps firms establish and identify a maximum acceptable...

Finance