1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
svlad2 [7]
3 years ago
7

This year, Santhosh, a single taxpayer, estimates that his tax liability will be $100,000. Last year, his total tax liability wa

s $15,000. He estimates that his tax withholding from his employer will be $35,000.
a) Is Santhosh required to increase his withholding or make estimated tax payments this year to avoid the underpayment penalty?

b) By how much, if any, must Santhosh increase his withholding and/or estimated tax payments for the year to avoid underpayment penalties?
Business
1 answer:
Alekssandra [29.7K]3 years ago
6 0

Answer:

a) Is Santhosh required to increase his withholding or make estimated tax payments this year to avoid the underpayment penalty?

  • No he is not required to make any payments or increase his withholdings because this year's withholdings already represent a 133% increase with respect to last year's tax liability. If the withholdings for the current are over 100% last year's tax liability, then the taxpayer doesn't need to make any further adjustments in order to avoid underpayment penalties.

b) By how much, if any, must Santhosh increase his withholding and/or estimated tax payments for the year to avoid underpayment penalties?

  • $0

You might be interested in
Here, the rod has a diameter d of 16 centimeters. The length from point A to point B, LAB, is 2 meters, and the length from poin
pantera1 [17]

Answer:

6/7 kN

Explanation: See attached file

7 0
3 years ago
Specifics
bogdanovich [222]

The cost of buying and leasing is: A. buy: 14720; lease: 14996.

<h3>Cost of buying and leasing</h3>

1. Cost of Buying:

Total loan payment= 385× 48 months

Total loan payment= $18,480

Cost of buying = Down Payment + Loan payment + ( Opportunity cost ×Down payment× X term in years ) - Ending loan estimated value

Cost of buying= 2,000 +$18,480 + (2000 × 0. 03× 4 years ) - 6,000

Cost of buying= 2,000 + $18,480+240-6,000

Cost of buying= 14,720

2. Leasing:

Total Lease payment=295× 48 months

Total lease payment= $14,160

Leasing= Total lease payment + End of lease charges + ( Security deposit × Opportunity cost× X term in years))

Leasing= $14,160+ 800 + (300 ×0.03×4)

Leasing= $14,160+ 800 +36

Leasing=14996

Therefore the cost of buying and leasing is: A. buy: 14720; lease: 14996.

Learn more about Cost of Buying and leasing here: brainly.com/question/15694660

brainly.com/question/15863500

#SPJ1

3 0
2 years ago
Easywriter manufactures an erasable ballpoint pen, which sells for $1.75 per unit. management recently finished analyzing the re
maxonik [38]

a. 50 cents

Contribution margin per unit is price per unit- variable cost per unit

1.75 - ($50,000/40,000 units)

1.75 - 1.25 = $ .50

b. $8750

Margin of safety is the expected sales - break even sales

(45,000 units * $1.75 per unit) - (40,000 *1.75)

78,750 - 70,000 = $8750

6 0
3 years ago
Tonelli Trucking buys a $65,000 truck on credit. Which financial statement will be affected by this transaction?
Arlecino [84]

Answer:

A : balance sheet only

Explanation:

In the given question, the truck was purchased on credit and the truck is a fixed asset that comes under the balance sheet only because in the income statement, the expenses and revenues are recorded whereas retained earnings records profit which is left to the company.  

So, it affects the balance sheet only. As balance sheet records all types of assets and all types of liabilities plus shareholder equity.

6 0
3 years ago
A competitive car wash currently hires 4 workers, who together can wash 80 cars per day. The market price of car washes is $5 pe
DENIUS [597]

Answer:

Number of car washed is 92

So option (a) is correct answer

Explanation:

It is given that 4 workers can wash 80 cars per day

Means initially 80 cars are washed per day

And it is given that rate of car wash is $5 per car

Now price of workers is $60 per day

As per car wash is $5

So number of extra car washed =\frac{60}{5}=12

So total number of car washed = 80 + 12 = 92 cars per day

So option (a) is correct answer

7 0
3 years ago
Other questions:
  • Which of the following statements about the consumers’ responses to rising gasoline prices is correct?a. Because gasoline is a n
    6·1 answer
  • g Suppose you have a possible investment that costs $100 today but, starting one year from now, pays $5 in some years with proba
    6·1 answer
  • A music artist has just finished creating his most recent single and it is now ready for release. The artist loves when others r
    14·2 answers
  • Assume that a $1,000,000 par value, semiannual coupon US Treasury note with four years to maturity has a coupon rate of 4%. The
    8·1 answer
  • ​spicy salsa company complains to the federal trade commission (ftc) about an ad by tangy sauces inc., spicy's competitor. the f
    13·1 answer
  • When Ronaldo bought his new flat-screen television, he was surprised at the cost differences between some of the models. When he
    6·1 answer
  • Herman Corporation had net income of $120,000 and paid dividends of $24,000 to common stockholders and $20,000 to preferred stoc
    11·1 answer
  • Spotter Corporation reported the following for June in its periodic inventory records. Date Description Units Unit Cost Total Co
    14·1 answer
  • Mark is approaching the implementation phase of the new asset management system (AMS). To test the system's viability and work o
    6·1 answer
  • On Dec 1, 2019 ABC purchases a piece of equipment with a total cost of $[YOUR NUMBER] * 1000. The equipment is expected to have
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!