Question: how would i do this one Answer the following schedules and show your work. You may attach a word or excel document demonstrating your work

how would i do this one

Answer the following schedules and show your work. You may attach a word or excel document demonstrating your work if needed.

  1. What tax forms will you be using for the income tax project? State which year you will be using to complete the income tax project. (Please list the Form number and what the form is used for)?
  2. Calculate the income taxes for the following situation: An married filing joint couple as taxable income of $110,000. The taxable income includes $2,000 of short-term gains, $10,000 of long-term gains, $250 of interest, $560 of dividends, of which $500 are qualified?

For 2019 - the tax table is as followshow would i do this one Answer the following schedules and show

For 2018 - the tax table is as follows:your work. You may attach a word or excel document demonstrating your

3. Assuming the company has chosen not to use Section 179 or any bonus depreciation. Calculate the depreciation on the following items using the appropriate half-year DDB MACRS table for income taxes. Appropriate depreciation schedules and rates can be located in Publication 946 (Links to an external site.)?

  1. A building that was purchased 4/15/2016 with a cost of 220,000 and a 39-year life.
  2. A desk that was purchased two years ago for $1,000
  3. Equipment that was purchased this year for $7,000

1. For 2019 - the tax table is as follows: of the amount over- $ 0 2019 Tax Rate Schedules Single-Schedule X Head of household-Schedule Z If taxable of the If taxable income is: But not amount income is: But not Over- over- The tax is: over- Over- over- The tax is: $ 0 $ 9,700 ...... .10% $ 0 $ 0 $ 13,850 ......... 10% 9,700 39,475 $ 970.00 + 12% 9,700 13,850 52,850 $ 1,385.00 + 12% 39,475 84,200 4,543.00 + 22% 39,475 52,850 84,200 6,065.00 + 22% 84,200 160,725 14,382.50 +24% 84,200 84,200 160,700 12,962.00 + 24% 160,725 204,100 32,748.50 + 32% 160,725 160,700 204,100 31,322.00 + 32% 204,100 510,300 46,628.50 + 35% 204,100 204,100 510,300 45,210.00 + 35% 510,300 153,798.50 + 37% 510,300 510,300 152,380.00 + 37% Married filing jointly or Qualifying widow(er)- Married filing separatelySchedule Y-2 Schedule Y-1 If taxable of the If taxable income is: But not amount income is: But not Over- over- The tax is: over- Over- over- The tax is: $ 0 $ 19,400 $ 0 $ 0 $ 9,700 19,400 78,950 $ 1,940.00 + 12% 19,400 9,700 39,475 $ 970.00 + 12% 78,950 168,400 9,086.00 + 22% 78,950 39,475 84,200 4,543.00 + 22% 168,400 321,450 28,765.00 + 24% 168,400 84,200 160,725 14,382.50 + 24% 321,450 408,200 65,497.00 + 32% 321,450 160,725 204,100 32,748.50 + 32% 408,200 612,350 93,257.00 + 35% 408,200 204,100 306,175 46,628.50 + 35% 612,350 164,709.50 + 37% 612,350 306,175 82,354.75 + 37% 13,850 52,850 84,200 160,700 204,100 510,300 of the amount over- ......... 109 ......... 10% $ 0 9,700 39,475 84,200 160,725 204,100 306,175 2. For 2018 - the tax table is as follows: 2018 Tax Rate Schedule - Married Filing Joint & SS 2018 Tax Rate Schedule - Head of Household The tax is: The tax is: If your taxable Income is: If your taxable Income is: Over- $0 19,050 77,400 165,000 315,000 400,000 600,000 But not over --- $19,050 77,400 165,000 315,000 400,000 600,000 10% $1,905 + 12% 8,907 + 22% 28,179 + 24% 64,179 + 32% 91,379 +35% 161,379 +37% of the amount over --- $0 $19,050 77,400 165,000 315,000 400,000 600,000 Over- $0 13,600 51,800 82,500 157,500 200,000 500,000 But not over --- $13,600 51,800 82,500 157,500 200,000 500,000 10% $1,360 + 12% 5,944 + 22% 12,698 +24% 30,698 + 32% 44,298 + 35% 149,298 +37% of the amount over --- $0 $13,600 51,800 82,500 157,500 200,000 500,000 2018 Tax Rate Schedule - Single The taxis: If your taxable Income is: But not Over- over --- $0 $9,525 9,525 38,700 38,700 82,500 82,500 157,500 157,500 200,000 200,000 500,000 500,000 10% $952.50 + 12% 4,453.50 + 22% 14,089.50 + 24% 32,089.50 + 32% 45,689.50 + 35% 1 50,689.50 + 37% of the amount over -- $0 $9,525 38,700 82,500 157,500 200,000 500,000 2018 Tax Rate Schedule - Married Filing Separate If your taxable The tax is: Income is: of the But not amount Over- over --- over --- $0 $9,525 10% $0 9,525 38,700 $952.50 + 12% $9,525 38,700 82,500 4,453.50 + 22% 38,700 82,500 157,500 14,089.50 + 24% 82,500 157,500 200,000 32,089.50 + 32% 157,500 200,000 300,000 45,689.50 + 35% 200,000 300,000 80,689.50 + 37% 300,000 1. For 2019 - the tax table is as follows: of the amount over- $ 0 2019 Tax Rate Schedules Single-Schedule X Head of household-Schedule Z If taxable of the If taxable income is: But not amount income is: But not Over- over- The tax is: over- Over- over- The tax is: $ 0 $ 9,700 ...... .10% $ 0 $ 0 $ 13,850 ......... 10% 9,700 39,475 $ 970.00 + 12% 9,700 13,850 52,850 $ 1,385.00 + 12% 39,475 84,200 4,543.00 + 22% 39,475 52,850 84,200 6,065.00 + 22% 84,200 160,725 14,382.50 +24% 84,200 84,200 160,700 12,962.00 + 24% 160,725 204,100 32,748.50 + 32% 160,725 160,700 204,100 31,322.00 + 32% 204,100 510,300 46,628.50 + 35% 204,100 204,100 510,300 45,210.00 + 35% 510,300 153,798.50 + 37% 510,300 510,300 152,380.00 + 37% Married filing jointly or Qualifying widow(er)- Married filing separatelySchedule Y-2 Schedule Y-1 If taxable of the If taxable income is: But not amount income is: But not Over- over- The tax is: over- Over- over- The tax is: $ 0 $ 19,400 $ 0 $ 0 $ 9,700 19,400 78,950 $ 1,940.00 + 12% 19,400 9,700 39,475 $ 970.00 + 12% 78,950 168,400 9,086.00 + 22% 78,950 39,475 84,200 4,543.00 + 22% 168,400 321,450 28,765.00 + 24% 168,400 84,200 160,725 14,382.50 + 24% 321,450 408,200 65,497.00 + 32% 321,450 160,725 204,100 32,748.50 + 32% 408,200 612,350 93,257.00 + 35% 408,200 204,100 306,175 46,628.50 + 35% 612,350 164,709.50 + 37% 612,350 306,175 82,354.75 + 37% 13,850 52,850 84,200 160,700 204,100 510,300 of the amount over- ......... 109 ......... 10% $ 0 9,700 39,475 84,200 160,725 204,100 306,175 2. For 2018 - the tax table is as follows: 2018 Tax Rate Schedule - Married Filing Joint & SS 2018 Tax Rate Schedule - Head of Household The tax is: The tax is: If your taxable Income is: If your taxable Income is: Over- $0 19,050 77,400 165,000 315,000 400,000 600,000 But not over --- $19,050 77,400 165,000 315,000 400,000 600,000 10% $1,905 + 12% 8,907 + 22% 28,179 + 24% 64,179 + 32% 91,379 +35% 161,379 +37% of the amount over --- $0 $19,050 77,400 165,000 315,000 400,000 600,000 Over- $0 13,600 51,800 82,500 157,500 200,000 500,000 But not over --- $13,600 51,800 82,500 157,500 200,000 500,000 10% $1,360 + 12% 5,944 + 22% 12,698 +24% 30,698 + 32% 44,298 + 35% 149,298 +37% of the amount over --- $0 $13,600 51,800 82,500 157,500 200,000 500,000 2018 Tax Rate Schedule - Single The taxis: If your taxable Income is: But not Over- over --- $0 $9,525 9,525 38,700 38,700 82,500 82,500 157,500 157,500 200,000 200,000 500,000 500,000 10% $952.50 + 12% 4,453.50 + 22% 14,089.50 + 24% 32,089.50 + 32% 45,689.50 + 35% 1 50,689.50 + 37% of the amount over -- $0 $9,525 38,700 82,500 157,500 200,000 500,000 2018 Tax Rate Schedule - Married Filing Separate If your taxable The tax is: Income is: of the But not amount Over- over --- over --- $0 $9,525 10% $0 9,525 38,700 $952.50 + 12% $9,525 38,700 82,500 4,453.50 + 22% 38,700 82,500 157,500 14,089.50 + 24% 82,500 157,500 200,000 32,089.50 + 32% 157,500 200,000 300,000 45,689.50 + 35% 200,000 300,000 80,689.50 + 37% 300,000

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