Which of the following individuals should pay estimated taxes? An entrepreneur A. teacher A corporate manager A State worker A State police officer... Show more.
Feb 11, 2021 · When considering whether or not a taxpayer should pay estimated taxes and avoid a penalty for the underpayment of taxes, the taxpayer needs to take into account certain events that may occur during the year. Which of the following events will probably lead to a determination that estimated taxes (or additional estimated taxes) should be paid and …
Dec 16, 2020 · Larry estimates that, based on his self-employment income, his net tax owing for 2020 will be $8,000. Which of the following statements is true? A) Larry should pay instalments in 2020. B) If Larry has as much income in 2021 as he had in 2020, he will have to pay instalments during 2021. C) Larry must file his return for 2020 by April 30, 2021.
progressive. personal income taxes are: your income level and the number of withholding allowances you have claimed. your income tax withholding is dependent on: only for amounts in excess of 10% of the adjusted gross income.
sarah is a homeowner and single taxpayer. she has owned and occupied the house as a principal residence for the last 8 years. in the current taxable year, she recieves a promotion. she sells her home and moves to another area. the capital gain on the sale of the principal residence will: a gain from the sale of your assets.
The tax credit is $500 for each qualifying child. The individual claimed may or may not be a dependent. The individual claimed must be under age 17 at year-end. To get the maximum credit, the individual claimed must be a qualifying child. The individual claimed must be under age 17 at year-end.
True or false: The term tax bracket refers to the average tax rate that is applied to an individual's taxable income. False. Rationale: Each separate range of income subject to a different tax rate is a tax bracket.