In January, Ms. NW projects that her employer will withhold $25,000 from her 2019 salary....
50.1K
Verified Solution
Link Copied!
Question
Accounting
In January, Ms. NW projects that her employer will withhold $25,000 from her 2019 salary. However, she has income from several other sources and must make quarterly estimated tax payments.
A. Compute the quarterly payments that result in a 2019 safe-harbor estimate assuming that her 2018 AGI was $176,000, and her tax was $47,200.
(The answer for A. is NOT 51,920 or 26,920)
B. Compute the quarterly payments that result in a 2019 safe-harbor estimate assuming that her 2018 AGI was $139,000, and her tax was $36,800.
(The answer for B is NOT 36,800 or 11,800)
I have already tried two different ways to solve this for both A & B and neither were right. HELP!
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
