Finance-AW148 Online Services
Question One (20 points)
Basic Fact Pattern
Evelyn, 35, and Arthur, 36, are married with two children and file a joint tax return for the year 2015. Evelyn has earned income of $15,000 and Arthur has earned income of $106,000. The remaining sources of their adjusted income is unearned and made up of interest and dividend income of $19,000. This adds up to an adjusted gross income of $140,000 for the couple, before incorporating the two fact patterns below. They have deductions from adjusted gross income (itemized deductions) of $25,000, before incorporating the two fact patterns below. They have two dependents and two exemptions.
In addition to this information, neither of the two additional sets of facts below has been included/incoporated in the above information. After you include/incorporate them into Evelyn and Arthur’s tax information, you need to calculate Evelyn and Arthur’s adjusted gross income and taxable income for 2015.
First Set of Additional Facts
Evelyn and Arthur own a condominium in Nags Head, North Carolina. They use it for their 2 family vacations for a total of 20 days. They rent it out for a total of 230 days. The information for the condo is as follows:
Rental income $25,000
Mortgage interest $12,000
Property taxes $ 6,000
Utilities $ 1,000
Repairs $ 500
Calculate the amount of taxable income or loss from the property and any other expenses that effect the taxable income calculation for Evelyn and Arthur. Show all your calculations. Take the result from this property and include/incorporate it into the above Basic Fact Pattern for Evelyn and Arthur’s taxable income calculation.
You can read more about our case study assignment help services here.
How it Works
How It works ?
Step 1:- Click on Submit your Assignment here or shown in left side corner of every page and fill the quotation form with all the details. In the comment section, please mention Case Id mentioned in end of every Q&A Page. You can also send us your details through our email id email@example.com with Case Id in the email body. Case Id is essential to locate your questions so please mentioned that in your email or submit your quotes form comment section.
Step 2:- While filling submit your quotes form please fill all details like deadline date, expected budget, topic , your comments in addition to Case Id . The date is asked to provide deadline.
Step 3:- Once we received your assignments through submit your quotes form or email, we will review the Questions and notify our price through our email id. Kindly ensure that our email id firstname.lastname@example.org and email@example.com must not go into your spam folders. We request you to provide your expected budget as it will help us in negotiating with our experts.
Step 4:- Once you agreed with our price, kindly pay by clicking on Pay Now and please ensure that while entering your credit card details for making payment, it must be done correctly and address should be your credit card billing address. You can also request for invoice to our live chat representatives.
Step 5:- Once we received the payment we will notify through our email and will deliver the Q&A solution through mail as per agreed upon deadline.
Step 6:-You can also call us in our phone no. as given in the top of the home page or chat with our customer service representatives by clicking on chat now given in the bottom right corner.
We use best scientific approach to solve case study as recommended and designed by best professors and experts in the World. The approach followed by our experts are given below:
The first step in solving any case study analysis is to define its problem carefully. In order to do this step, our experts read the case two three times so as to define problem carefully and accurately. This step acts as a base and help in building the structure in next steps.
The second step is to define structure to solve the case. Different cases has different requirements and so as the structure. Our experts understand this and follow student;s university guidelines to come out with best structure so that student will receive best mark for the same.
Research and Analysis
This is the most important step which actually defines the strength of any case analysis. In order to provide best case analysis, our experts not only refer case materials but also outside materials if required to come out with best analysis for the case.
Conclusion & Recommendations
A weak conclusion or recommendations spoil the entire case analysis. Our expert know this and always provide good chunks of volume for this part so that instructors will see the effort put by students in arriving at solution so as to provide best mark.
- Physics Assignment Help
- Chemistry Assignment Help
- Engineering Assignment Help
- Psychology Assignment Help
- Online exam Help
- Marketing Assignment Help
- Arts Assignment Help
- Sociology Assignment Help
- Project Management Assignment
- Case Study Help
- Nursing Assignment Help
- Research Assignment Help
- Operations Management Assignment help
- Accounting Assignment Help
- Biology Assignment Help
- Mathematics Assignment Help
- English Assignment Help
- Business Plan Help
- Essay Writing Help
- Human Resource Assignment Help
- Accounting Homework Help
- Computer Science Assignment Help
- Finance Assignment Help
- Economics Assignment Help
- Statistics Homework Help
- Management Assignment Help
- Strategy Management Assignment Help
- Auditing Assignment Help
- Information Management Assignment Help
- Online Assignment Writing help
- Humanities Assignment help
- Taxation Homework Help
- Corporate Finance Assignment Help
- Financial Management Assignment Help
Second Set of Additional Facts
Evelyn is self employed and not covered by any pension plan. Arthur is an employee of X Corporation and is covered by that company’s pension plan. They both wish to contribute the maximum amount to their conventional IRAs. Determine how much they can each contribute and deduct to their conventional IRAs. Include this result in the base fact pattern at the beginning of this problem. Make sure that you have included the result from the First Set of Additional Facts above when you add the result from this part.
Question Two (10 points)
Wilmer, a single taxpayer, is concerned about how he will fund his life style after he retires. He purchases an annuity for $100,000 that will begin to pay him $500 a month for the rest of his life starting when he reaches the age of 65 and ending upon his death. On January 1, 2015, his 65th birthday, the annuity begins.
1) How much in taxable income must Wilmer recognize in 2015 from the payments of the annuity?
2) If Wilmer dies on December 31, 2020, what is the effect on his 2020 taxable income?
3) If Wilmer dies on December 31, 2040, what is the effect on his 2040 taxable income?
product code: Finance-AW148
Looking for best Finance-AW148 online ,please click here