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How Much Income Can A Couple Over 75 Filing Jointly Make Before They Have To Pay Federal Income

How do I find an EIN number for a company?

Go to this website:

http://www.freeerisa.com


Under "FREE Reference Databases" click the EIN finder link. You're allowed three free searches, then you have to pay.

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You really shouldn't post your entire accounting homework assignment,
as this is a violation of the community guidelines.

Take the time to re-read your textbook or make judicious use of Google
in order to answer these questions, (and maybe learn something in the process).

Good luck in your studies,
~ Mitch ~

What should the top marginal US federal income tax rate be?

As I expected, several people have said that once upon a time, we had a very high marginal tax rate.What people (intentionally?) don't mention is who those rates applied too...  Very, very, very few people paid those rates as they applied only to the very very very rich.Here is a great site that shows some of the flaws with this thinking:Here’s the US tax rate on your income for every year since 1913Current thinking seem to be that the "1%" need to pay some enormous tax rate.  But historically, that group (about $500,000 per year income) has never paid more than about a 60% effective rate for singles.In the 1950's, our "1%" married filing jointly couple had an effective rate of forty some percent.  Hardly 75 or 90% that people claim. While the site above is great, it also leaves out a lot of the realities of the tax code before ~1980...  The tax shelters, vast exemptions, and other methods used by the rich to shield their income from taxation.  A rich person today probably pays far MORE taxes than they did then.There is a sweet spot for income tax numbers to maximize revenue, and reasonable people can argue about where exactly that number should be, but it's hard to make a case for numbers past 50%, based on a tough look at historical data...  Unlike in the 1950's, wealthy people today have plenty of places that they can go to and save money.  It's a competitive market, and watching our millionaires (who pay for a lot of this country) flee our shores to nations that will welcome them with open arms is a tremendous error.The 1% aren't the CEO's of boeing and GM and Wal-Mart.  The 1% are doctors and lawyers and small business owners.  They don't own private planes or 17 homes.  That's the .0001%  Be careful where you point the taxation gun, as it may end up pointing at a lot of people who really aren't in a position to afford that sort of confiscatory tax rate. IMHO, we need to stop treating investment income as different, and get rid of the corporate taxes that just encourage companies to employ people elsewhere.

Is it better for married couples to file joint income tax returns in America?

The only other option for a couple is “married filing separately”. The only people I’ve ever heard of doing it were separated (but not yet divorced) couples that hated the idea of doing anything jointly more than they hated paying more in taxes. It also makes it easier to decide who gets how much of the refund or pays the balance owing.Tax prep software usually calculates it both ways and then tells you to file joint. If it doesn’t you can spend a little extra time in the software to see what the numbers look like.I believe that some (all?) of the online tax software will let you do everything short of seeing the return or filing it with the IRS before you have to pay. So if you’re really curious go create an account or two.

The interest charged on a $100,000 note payable, at the rate of 6%, on a 60-day note would be $6,000. $3,3?

$6000

be reclassified as a current liability.

Federal unemployment tax

S Corporation

must file an information tax return.

has unlimited liability for all partnership debts.

April and Wilson are married and file a joint tax return. Wilson is a police officer, and in the current tax?

year he spends $375 on uniforms and $150 for dry cleaning the uniforms. April is in the National Guard and military regulations restrict her from wearing her uniforms when she is off duty. The cost of her uniforms for the year was $225 and the cost of dry cleaning them amounted to $75. April was granted a uniform allowance of $200 for the year. She also purchased a pair of standard black shoes to wear while on duty that cost $45. How much may they deduct on Schedule A for special clothing and uniforms (before applying the 2% of adjusted gross income limitation)?
a. $525
b. $625
c. $670
d. $825
e. None of the above

I really need help with answering this I believe the correct answer would be (e) none of the above.

How much may they deduct on Schedule A for special clothing and uniforms?

April and Wilson are married and file a joint tax return. Wilson is a police officer, and in the current tax year he spends $375 on uniforms and $150 for dry cleaning the uniforms. April is in the National Guard and military regulations restrict her from wearing her uniforms when she is off duty. The cost of her uniforms for the year was $225 and the cost of dry cleaning them amounted to $75. April was granted a uniform allowance of $200 for the year. She also purchased a pair of standard black shoes to wear while on duty that cost $45. How much may they deduct on Schedule A for special clothing and uniforms (before applying the 2 percent of adjusted gross income limitation)?

a.525
b.625
c.670
d.825
e.none of the above