Charles and Joan Thompson file a joint return. In 2 0 2 2 , they had taxable
Fantastic news! We've Found the answer you've been seeking!
Question:
Charles and Joan Thompson file a joint return. In they had taxable income of $ and paid tax of $ Charles is an advertising executive, and Joan is a college professor. During the fall semester, Joan is planning to take a leave of absence without pay. The Thompsons expect their taxable income to drop to $ in They expect their tax liability will be $ which will be the approximate amount of their withholding. Joan anticipates that she will work on academic research during the fall semester.
During September, Joan decides to perform consulting services for some local businesses. Charles and Joan had not anticipated this development. Joan is paid a total of $ during October, November, and December for her work. Use the appropriate Tax Rate Schedules.
Required:
What estimated tax payments are Charles and Joan required to make, if any, for tax year
Note: Round your intermediate calculations and final answer to the nearest dollar amount.
Related Book For
Fundamentals Of Taxation 2015
ISBN: 9781259293092
8th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
Posted Date: