Rasheed works for Company A, earning $358,000 in salary during 2021. Assuming he is single...
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Rasheed works for Company A, earning $358,000 in salary during 2021. Assuming he is single and has no other sources of income, what amount of FICA tax will Rasheed pay for the year? (Round yo intermediate and final answer to the nearest whole dollar amount.) Amount of FICA tax Required information (The following information applies to the questions displayed below.) In 2021, Elaine paid $2,200 of tuition and $720 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. a What is the maximum American opportunity tax credit that Elaine can claim for the tuition payment and books in each of the following alternative situations? (Leave no answer blank. Enter zero if applicable.) b. Elaine's AGI is $167,000. (Round your intermediate calculations to the nearest whole dollar amount.) American opportunity tax credit ! Required information {The following information applies to the questions displayed below. For the following taxpayers, determine the due date of their tax returns. d. Fred and Wilma, married taxpayers, request an extension this year. Assume the extended date falls on a Saturday. Due date of tax return This year Luke has calculated his gross tax liability at $1,920. Luke is entitled to a $2,580 nonrefundable personal tax credit, a $1,590 business tax credit and a $660 refundable personal tax credit. In addition, Luke has had $2,450 of income taxes withheld from his salary. What is Luke's net tax due or refund? (Input the amount as a positive value.) Tax refund 25
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