Hank is a single taxpayer who earned $31,896 in wages and $11,724 of Social Security benefits. How much of Hank’s Social Security benefits are taxable?

a.$31,896

b.$7,694

c.$11,724

d.$9,965

Reba Dixon is a fifth-grade schoolteacher who earned a salary of $38,000 in 2019. She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from her former husband (divorced in 2016). Reba also rents out a small apartment building. This year Reba received $50,000 of rental payments from tenants and she incurred $19,500 of expenses associated with the rental.                                                         

Reba and her daughter heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one-half of heather’s support. they had been living in Colorado for the past 15 years, but ever since her divorce, Reba has been wanting to move back to Georgia to be closer to her family. luckily, last December, a teaching position opened up and Reba and heather decided to make the move. Reba paid a moving company $2,010 to move their personal belongings, and she and heather spent two days driving the 1,426 miles to Georgia.
Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full-time in January and throughout the rest of the year at a nearby university. She was awarded a $3,000 partial tuition scholarship this year, and Reba out by paying the remaining $500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses.                                                                                                    

   Reba wasn't sure if she would have enough items to her benefit from itemizing on her tax return. However, she kept track of several expenses this year that she thought might qualify if she was able to itemize. Reba paid $5,800 in state income taxes and $12,500 in charitable contributions during the year. she also paid the following medical-related expenses for herself and heather:

insurance premiums                            $ 7,952
medical care expenses                        $ 1,100
prescription medicine                         $ 350
nonprescription medicine                   $ 100
new contact lenses for heather           $ 200

            Shortly after the move, Reba got distracted while driving and she ran into a street sign. the accident caused $900 in damage to the car and gave her whiplash. because the repairs were less than her insurance deductible, she paid the entire cost of the repairs. Reba wasn’t able to work for two months after the accident. fortunately, she received $2,000 from her disability insurance. her employer, the central Georgia school district, paid 60 percent of the premiums on the policy as a nontaxable fringe benefit and Reba paid the remaining 40 percent portion.
            A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments: $2,200 of interest income from corporate bonds and $1,500 interest income from city of Denver municipal bonds. overall, Reba’s stock portfolio appreciated by $12,000 but she did not sell any of her stocks.                                Heather reported $6,200 of interest income from corporate bonds she received as gifts from her father over the last several years. this was heather’s only source of income for the year.

Required:

1. Determine Reba’s federal income taxes due to taxes payable for the current year.

Complete pages 1 and 2, Schedule 1, and Schedule 3 of Form 1040 for Reba.

2. Determine the amount of FICA taxes Reba was required to pay on her salary.
3. Determine Heather’s federal income taxes due or payable.

Reba Dixon is a fifth grade school teacher who earned a salary of 38,000 in 2018. She is 45 years old and has been divorced for four years. She receives 1,200 of alimony payments each month from her former husband. Reba also rent out a small apartment building. This year Reba receive 50,000 of rental payments from tenant and she incurred 19,500 of expenses associated with the rental.
        Reba and her daughter Heather (20 years old at the end of the year) moved to Georgia in January of this year. Reba provides more than one half of Heather support. They had been living in Colorado for the past 15 years, but ever since her divorced, Reba has been wanting to go back to Georgia to be closer to her family. Luckily last December, a teaching position opened up and Reba and Heather decided to make a move. Reba paid a moving company 2,010 to move their personal belongings, and she and Heather spent two days driving the 1,426 miles to Georgia.
          Reba rented a home in Georgia. Heather decided to continue living at home with her mom, but she started attending school full time in January at near by university. She was awarded a & 3000 partial tuition scholarship this year and Reba help out by paying the remaining 500 tuition cost. If possible, Reba thought it would be best to claim the education credit for these expenses.
           Reba wasn't sure if she would have enough items to help her benefit from itemizing on her tax return, however she kept track of several expenses this year that she thought might qualify if she was able to itemized. Reba paid 5800 in state income taxes and 12500 in charitable contribution during the year. She also paid the following medical related expenses for herself and Heather :
Insurance premiums.     5,795
Medical care expenses   1,100
Prescription medicine         350
Nonprescription medicine. 100
New contact lenses for Heather. 200

   Shortly after the move, Reba got distracted while driving and she ran into a street sign. The accident caused 900 in damage to the car and gave her whiplash. Because the repair was less than her insurance deductible, she paid the entire cost of the repair. Reba wasn't able to work for two months after the accident. Fortunately, she receives 2000 from her disability insurance. Her employer, the central Georgia school district, paid 60%of premium on the policy as a non-taxable fringe benefits and Reba paid the remaining 40% portion.
      A few years ago, Reba acquired several investments with her portion of the divorce settlement. This year she reported the following income from her investments : 2200 of interest income from corporate bonds and 1500 interest income from city of Denver municipal bonds. Overall, Reba stock portfolio appreciated by 12000 but she did not sell any of her stock.
      Heather reported 6200 of interest income from corporate bonds she received as a gift from her father over the last several years. This was Heather only sources of income for the year. Reba had 10,000 of federal income taxes withheld by employer. Heather made 1000 estimates tax payments during the year. Reba did not make any estimate payments. Reba had qualifying insurance for purposes of the affordable care Act (ACA).

Required :

(A) Determine Reba federal income taxes due or taxes payable for current year, complete pages 1 and 2 of forms 1040 for Reba.

(b) is Reba allowed to file as a head of household or single?

(c) Determine the amount of FICA taxes Reba was required to pay on her salary.

(d) Determine Heather federal income taxes due or payable

The H. J. Heinz Company, better known simply as Heinz, is an American food processing company based in Pittsburg, Pennsylvania. Originally, the company was founded by Henry John Heinz in 1869. Heinz manufactures thousands of food products in plants on six continents, and markets these products in more than 200 countries and territories. The company claims to have 150 number-one or number-two brands worldwide. Heinz ranked first in ketchup in the US with a market share in excess of 50%; the Ore-Ida label held 46% of the frozen potato sector in 2003. Since 1896, the company has used its “57 Varieties” slogan; it was inspired by a sign advertising 21 styles of shoes, and Henry Heinz chose the number 57 even though the company manufactured more than 60 products at the time. In February 2013, Heinz agreed to be purchased by Berkshire Hathaway and the Brazilian 3G Capital for $23 billion. On March 25, 2015, Kraft announced its merger with Heinz, arranged by Berkshire Hathaway and 3G Capital. The resulting Kraft Heinz company is the fifth largest food company in the world. Berkshire Hathaway became a majority owner of Heinz on June 18, 2015. Based on the information provided do the following: a) Indicate the growth strategy used by Heinz on March 25, 2015; and b) Think for a moment about the company’s core competences that represent its business domain to help the company to grow further. You can opt between two possible Diversification Strategies - Concentric Strategy and Horizontal Strategy. Explain Your answer.

Suppose we refused to sell goods to any country that reduced or halted its exports to us. Who would benefit and who would lose from such retaliation? Can you suggest alternative ways to ensure import supplies? Are there any particular imported commodities that you or your firm rely on? What has happened to the supply of these imports over the years?

2. Joanne Jamison

Joanne started with Performance Horizons five years ago, after receiving her MBA from The Wharton School. She has told people the reason she went to Wharton was to have the best opportunities at jobs that would offer quick advancement so she could rapidly rise to the top of the organization. Joanne has a keen sense of what makes organizations tick and who to go to when things need to get done. She doesn’t “waste” her time with chitchat, as she calls it. Her time is all spent on doing a good job on all her assignments and making sure she makes the right connections with the executives. Her performance has always been rated as excellent.

Which two of the four motivates Joanne the most?

I need to answers this questions in relation to THE LATEST DATA OF NIKE COMPANY:

- About stockholders and Governance:

• Is there separation between management and ownership? If so, how responsive is management to stockholders?
• How does this firm interact with financial markets? How do markets get information on the firm?
• How does this firm view its social obligations and manage its image?
• Who is the average investor in this stock? (Individual or pension fund, taxable or tax-exempt, small or large, domestic or foreign?)
• Who is the marginal investor in this stock?

Thank you!

Quilici Family: Greg and Debra Quilici own a four bedroom home in an affluent neighborhood just north of San Francisco, California. Greg is a partner in the family owned commercial painting business. The family is Composed of Greg (father), Debra (mother), and 5 year old son Brady.Greg is a partner in the family owned commercial painting business.Debra is a housewife

After visiting Lawrence Krause, a family financial planner, Greg and Debra became concerned of their spending, and that they are not putting enough money for their son’s future education needs as well as their own retirementThey have a Koegh plan (retirement plan for self-employed individuals and small businesses in the US), but they did not account for Brady’s education.

Greg earns $95,000 per year, Greg is an alumnus of Stanford University (Tuition = $40,000 per year). Debra graduated from University of North Carolina at Chapel Hill (Tuition = $4,500 per year). The couple wants to send Brady to either school when he turns 18, with a slight preference towards Stanford. The problem, however, is that with the rate at which tuition is increasing the Quilicis are not sure they can raise enough money.

They expect the following things to happen.

• Tuition fees is expected to increase at an annual rate of 6%
• Living expenses are estimated to be $7000 per year for both schools (expecting to grow 3.5% per year)
• The couple can deposit their money into a growth oriented mutual fund at Neuberger and Berman Management, Inc. (historically earning 12% per annum)

The couple wishes to have a pre-determined monthly amount automatically paid from their bank account. When Brady starts college they will slowly liquidate the account by making an annual payment to Brady to cover tuition and living expenses at the beginning of each year for the four years he will be in college.

From the Case above

1. Identify the variables for each university (Tution Fees, Living Expenses, Interest rate, No of years)

2. How much will the tuition and living expenses be per year when Brady is ready to attend Stanford University?

3. How much will the tuition and living expenses be per year when Brady is ready to attend University of North Carolina at Chapel Hill?

4. Once Brady starts college what will his total expenses (future) be in each of his four years for Stanford University?.

5. Once Brady starts college what will his total expenses (future) be in each of his four years for University of North Carolina at Chapel Hill?.

6. Based on your analysis which university shoulf Greg and Deba choose for their son?

St. Andrew’s University receives 900 applications annually from prospective students. The application forms contain a variety of information including the individual’s scholastic aptitude test (SAT) score and whether or not the individual desires on-campus

housing.

What is the probability that a simple random sample of 30 applicants will provide an estimate of the population mean SAT score that is within plus or minus 10 (within 10 points) of the actual population mean m ? Given that the population Standard Deviation is 80.

Data show 648 applicants wanting On-Campus Housing. What is the probability that sample proportion exceeds 50%, when n =30?

What is the probability that a simple random sample of 30 applicants will provide an estimate of the population proportion of applicants desiring on-campus housing that is within plus or minus .05 of the actual population proportion?

If the University can provide to no more than 45% for the on –campus housing facilities, what would be the estimated number of accepted applicants desiring on-campus housing?

A committee surveyed 173 students from a large university campus and found that 53 of them participated in varsity sports. (a) Based on the survey results, construct and interpret a 95% confidence interval for the proportion of students who are varsity athletes. (b) Based on the survey results, test the claim that more than 25% of students are varsity athletes. Use alpha=0.01α = 0.01. Show all work.