Required information [The following information applies to the questions displayed below.) Emily, who is single,...
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Required information [The following information applies to the questions displayed below.) Emily, who is single, has been offered a position as a city landscape consultant. The position pays $132,200 in cash wages. Assume Emily has no dependents. Emily deducts the standard deduction instead of itemized deductions, and she is not eligible for the qualified business income deduction. (Use the tax rate schedules.) (Round your intermediate calculations and final answer to the nearest whole dollar amount.) What is the amount of Emily's after-tax compensation (ignore payroll taxes)? Description Amount $ 132,200 0 $ 132,200 (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction (5) Taxable income (6) Income tax liability After-tax compensation $ 132,200 b-1. Suppose Emily receives a competing job offer of $126,000 in cash compensation and nontaxable (excluded) benefits worth $6,200. What is the amount of Emily's after-tax compensation for the competing offer? Description Amount (1) Gross income (2) For AGI deductions (3) Adjusted gross income (4) Standard deduction $ 0 (5) Taxable income $ 0 (6) Income tax liability Total after-tax compensation
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