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    Phan Mai is a single taxpayer with two dependent children

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    Phan Mai is a single taxpayer with two dependent children under age 17. Phan estimates her wages for the year will be $36,000 and her itemized deductions will be $11,000. Assuming Phan files as head of household, determine the number of withholding allowances Phan should claim.

    Whcih form should be used to report following payment
    a.interest of $400 paid by bank ___________
    b.payment of $400 in dividends by a corp to a shareholder _______

    Indicate the form that should be used to report the payment.
    c.periodic payments from a retirement plan________
    d.salary as president of the company _______
    e. las vegas keno winnings of $25,000 __________

    Thomas is an employer with one employee, Sarah. Sarah's wages, which were earned evenly in 2011, are $19,450, and the state unemployment tax rate is 5.4%. Calculate the following amounts for Thomas:
    a.FUTA tax before the state tax credit
    b.State unemployment tax
    c.FUTA tax after the state tax credit

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    Solution Preview

    Phan Mai is a single taxpayer with two dependent children under age 17. Phan estimates her wages for the year will be $36,000 and her itemized deductions will be $11,000. Assuming Phan files as head of household, determine the number of withholding allowances Phan should claim.

    Phan - 1, Dependents - 2, total ...

    Solution Summary

    Phan Mai is a single taxpayer with two dependent children under age 17. Phan estimates her wages for the year will be $36,000 and her itemized deductions will be $11,000. Assuming Phan files as head of household, determine the number of withholding allowances Phan should claim.

    $2.19

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