Individual Income Taxes
43rd Edition
ISBN: 9780357109731
Author: Hoffman
Publisher: CENGAGE LEARNING - CONSIGNMENT
expand_more
expand_more
format_list_bulleted
Question
Chapter 3, Problem 33P
To determine
Identify the number of dependents for the given situations.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Determine the number of dependents in each of the following independent situations: (for example, 1, 2, 3, and so on).
Dependents
a.
Reginald, a U.S. citizen and resident, contributes 100% of the support of his parents who are citizens of Canada and live there.
fill in the blank 1
b.
Pablo, a U.S. citizen and resident, contributes 100% of the support of his parents who are citizens of Panama. Pablo's father is a resident of Panama, and his mother is a legal resident of the United States.
fill in the blank 2
c.
Gretchen, a U.S. citizen and resident, contributes 100% of the support of her parents who are U.S. citizens but residents of Germany.
fill in the blank 3
d.
Elena is a U.S. citizen and a resident of Italy. Her household includes Carlos, a four-year-old adopted son who is a citizen of Spain.
Amir, an Indian citizen, who married a beautiful Filipina wife, owns a building in the U.S. and leases the same to Filipino residents. Amir has his residence in the Philippines and all his children are studying in PWC. How would you classify Amir as a taxpayer? How would you consider the rent income? Is it earned from within or outside the Philippines? Explain your answers. School: PWC of Davao Philippines
Ms. Filipina A. Ko, a Filipino, works abroad. Ms. Filipina’s work requires her to be overseas most of the time. In fact, she comes home to our country only once every two years. Her only source of income is the salary she earns abroad. Which of the following taxes will the BIR require her to pay?
A. Income Tax
B. Business Tax
C. A and B
D. None of these
Chapter 3 Solutions
Individual Income Taxes
Ch. 3 - Prob. 1DQCh. 3 - Which of the following items are inclusions in...Ch. 3 - Which of the following items are exclusions from...Ch. 3 - Prob. 4DQCh. 3 - In choosing between taking the standard deduction...Ch. 3 - Prob. 6DQCh. 3 - Prob. 7DQCh. 3 - Prob. 8DQCh. 3 - Caden and Lily are divorced on March 3, 2018. For...Ch. 3 - Prob. 10DQ
Ch. 3 - Prob. 11DQCh. 3 - Prob. 12DQCh. 3 - Prob. 13DQCh. 3 - Prob. 14DQCh. 3 - Prob. 15DQCh. 3 - Prob. 16DQCh. 3 - Prob. 17DQCh. 3 - Prob. 18DQCh. 3 - During the year, Brandi had the following...Ch. 3 - Sam and Abby are dependents of their parents, and...Ch. 3 - Compute the 2019 standard deduction for the...Ch. 3 - Paul and Sonja, who are married, had itemized...Ch. 3 - Compute the 2019 tax liability and the marginal...Ch. 3 - In 2019, Simon, age 12, has interest income of...Ch. 3 - Prob. 25CECh. 3 - During the year, Tamara had capital transactions...Ch. 3 - Compute the taxable income for 2019 in each of the...Ch. 3 - Compute the taxable income for 2019 for Emily on...Ch. 3 - Compute the taxable income for 2019 for Aiden on...Ch. 3 - Prob. 30PCh. 3 - Analyze each of the characteristics in considering...Ch. 3 - Prob. 32PCh. 3 - Prob. 33PCh. 3 - Prob. 34PCh. 3 - Prob. 35PCh. 3 - Prob. 36PCh. 3 - Taylor, age 18, is claimed as a dependent by her...Ch. 3 - LO.4, 9 Walter and Nancy provide 60% of the...Ch. 3 - Prob. 39PCh. 3 - LO.1, 2, 3, 4, 5, 6 Morgan (age 45) is single and...Ch. 3 - Prob. 41PCh. 3 - LO.5, 6, 9 Roy and Brandi are engaged and plan to...Ch. 3 - In each of the following independent situations,...Ch. 3 - Prob. 44PCh. 3 - Nadia died in 2018 and is survived by her husband,...Ch. 3 - Paige, age 17, is a dependent of her parents....Ch. 3 - Prob. 47PCh. 3 - LO.8 During 2019, Inez (a single taxpayer) had the...Ch. 3 - During 2019, Inez (a single taxpayer) had the...Ch. 3 - Prob. 50PCh. 3 - Lance H. and Wanda B. Dean are married and live at...Ch. 3 - Prob. 52CPCh. 3 - Kathy and Brett Ouray married in 2001. They began...Ch. 3 - Prob. 2RPCh. 3 - Prob. 5RPCh. 3 - Prob. 1CPACh. 3 - Jane is 20 years old and is a sophomore at Lake...Ch. 3 - Prob. 3CPACh. 3 - Jeff and Rhonda are married and have two children,...Ch. 3 - Prob. 5CPACh. 3 - Bill and Anne Chambers are married and file a...Ch. 3 - Prob. 7CPACh. 3 - Heather is single and has one son, Rhett, who is...Ch. 3 - Prob. 10CPACh. 3 - Prob. 11CPA
Knowledge Booster
Similar questions
- Christina, a 50-year-old American, is married to a Singaporean, and the couple has 2 children who are Singapore citizens. The eldest is studying at an overseas university while the younger child is attending school in Singapore. For the year 2021, Christina earned the following employment income: (i) Salary of $236,000(ii) Bonus of $34,000(iii) Net rental income of $10,800 What is her total the child relief claim (QCR and WMCR) for the Year of Assessment 2022?arrow_forwardScott and Barbara are married and want to file a joint return. Scott is a U.S. citizen and has a valid Social Security number. Barbara is a resident alien and has an ITIN. They resided in the United States all year with their children. • Scott and Barbara have two children, Maria, age 8, and Luis, age 16. Maria and Luis are U.S. citizens and have valid Social Security numbers. Scott earned $22,000 in wages.. Barbara earned $20,000 in wages. In order to work, the Gymses paid $2,000 to their son Luis to care for Maria after school.. Scott and Barbara provided all of the support for their two children. 5. Payments made to Luis can be claimed on Form 2441 as child and dependent care expenses. a. True b. Falsearrow_forwardPaul and Maggie are married and want to file a joint return. Maggie is a U.S. citizen and has a valid Social Security number. Paul is a residentalien and has an ITIN. They resided in the United States all year with their children. Paul and Maggie have two children, Cheryl, age 4, and Mike, age 15. Cheryl and Mikeare U.S. citizens and have valid Social Security numbers. Paul earned $18,000 in wages. Maggie earned $20,000 in wages. In order to work, the Thomas's paid child and dependent care expenses of $3,500 fortheir daughter Cheryl to attend Busy Bee Child Care. Paul and Maggie provided all of the support for their two children. Paul and Maggie declined to receive advance payments for the Child Tax Credit. 5. How much of the child care expenses paid to Busy Bee Day Care are used tocalculate the refundable child and dependent care credit? $___________(Do not enter dollar signs, commas, periods, or decimal points in your answer.)arrow_forward
- Joy, a resident alien, works home online and submits her output to clients. She collected P800,000 service fee from foreign clients and P200,000 from Philippine resident clients. How much income is earned by Gareth outside the Philippines?arrow_forwardDuring the year 2021, Ms. kelley, a foreign student from a non-treaty country, attended the University of California, an American university in pursuit of a degree. While in the U.S., she worked part-time at the school cafateria and earned $3,500. During her summer vacation, Ms. kelley returned home, where she worked for a company incorporated in her country and earned the equivalent of $4,500 (US dollars). How much of her income earned will be INCLUDED in U.S. gross income? $8,000 $4,500 $3,500 $0 rearrow_forwardHelena is a U.S. citizen and a CPA who moved to London, England, three years ago to work for a British company. This year, she spent the entire year in London and earned a salary of $131,600. How much of her salary will she be allowed to exclude from gross income in the United States? $19,436 $120,000 $108,600 $101,600 All of her salary is included in gross income.arrow_forward
- Mr. Nicanor was single at the time of death. Data were as follows: Country A: Net estate of P 100,000 and estate tax paid od P 8,000; Country B: Net estate of P 200,000 and estate tax paid of P 12,000; Philippines: Net estate of P 1,200,000. The decedent was a resident and citizen of the Philippines. The Estate tax credit for foreign estate taxes paid is?arrow_forwardHelen is U.S. citizen and a CPA who moved to London, England, three years ago to work for a British company. Thisa year, she spent the entire year in London and earned a slary of $1478,000. How much of her salary will she be allowed to exclude from gross income in the United States?arrow_forwardJorge and Anita, married taxpayers, earn $161,000 in taxable income and $51,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule for married filing jointly). Required: a. If Jorge and Anita earn an additional $111,000 of taxable income, what is their marginal tax rate on this income? b. What is their marginal rate if, instead, they report an additional $111,000 in deductions? Note: For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. a. Marginal tax rate b. Marginal tax rate % % Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is But not over: over: $ 0 $ 20.550 $ 83.550 $ 178,150 $340,100 $431,900 $647,850 The tax is: 10% of taxable income $2,055 plus 12% of the excess over $20,550 $ 20,550 $ 83,550 $ 178,150 $9,615 plus 22% of the excess over $83,550 $340,100 $30,427 plus 24% of the excess over $178.150 $431,900 $69,295 plus 32% of the excess over $340,100 $98,671 plus…arrow_forward
- Jorge and Anita, married taxpayers, earn $150,500 in taxable income and $40,500 in interest from an Investment in City of Heflin bonds. (Use the U.S. tax rate schedule for married filing jointly). Required: a. If Jorge and Anita earn an additional $100,500 of taxable income, what is their marginal tax rate on this income? b. What is their marginal rate if, instead, they report an additional $100,500 in deductions? (For all requirements, do not round Intermediate calculations. Round your answers to 2 decimal places.) a. Marginal tax rate b. Marginal tax rate % %arrow_forward. Of the following individuals who would be a resident or deemed resident of Canada for tax purposes this year? Alex is a U.S. citizen who commutes each day to Canada for employment purposes. Bob is a U.S. citizen who lives in Canada during the week for employment purposes but returned to the U.S. on weekends to the house he shares with his wife and children. Charles is a Canadian citizen who lived in Toronto until March of last year, at which time he left for a 4-year aid-mission in Africa under an agreement with the Canadian International Development Agency. Derrick is a Canadian citizen who goes to school in the US for 8 months of each year but returns to Canada to live with his parents each summer. Alex and Bob Alex, Bob and Charles Bob, Charles and Derrick All of the above None of the abovEarrow_forwardJorge and Anita, married taxpayers, earn $161,000 in taxable income and $51,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule for married filing jointly). Required: 1. If Jorge and Anita earn an additional $111,000 of taxable income, what is their marginal tax rate on this income? 2. What is their marginal rate if, instead, they report an additional $111,000 in deductions?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Individual Income TaxesAccountingISBN:9780357109731Author:HoffmanPublisher:CENGAGE LEARNING - CONSIGNMENT
Individual Income Taxes
Accounting
ISBN:9780357109731
Author:Hoffman
Publisher:CENGAGE LEARNING - CONSIGNMENT