Estimated taxes to avoid a penalty, Accounting Basics

+44 141 628 6080
[email protected]

Estimated taxes to avoid a penalty

Paul has the following information:

AGI for 2009 $155,000
Withholding for 2009 20,000
Total tax for 2008 29,000
Total tax for 2009 31,250

a. How much must Paul pay in estimated taxes to avoid a penalty (disregard the making work credit)?

b. If Paul paid $1,000 per quarter, would he have avoided the estimated tax penalty?

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Estimated taxes to avoid a penalty

Reference No:- TGS090818

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : First two progeny plants produced have red flowers

Assume that red is dominant to white in roses and that two heterozygous red roses are crossed. What is the probability that the first two progeny plants produced have red flowers?

Q : To whom should betta sell the land

who is willing to make 10 annual payments of $60,000 each beginning at the end of the year. Assuming that the appropriate rate of interest is 9%, to whom should Betta sell the land? Show calculations.

Q : Running an application on your hand-held device

Suppose you are running an application on your hand-held device to update customer accounts. You enter a 12-byte customer account number into your application in your hand-held device. Your application sends the customer account number to a server pr

Q : Formulate a maximum-flow problem to find completed projects

Formulate a maximum-flow problem that could be used to determine whether all three projects can be completed on time. Draw the network and write down the LP.

Q : Estimated taxes to avoid a penalty

How much must Paul pay in estimated taxes to avoid a penalty (disregard the making work credit)?

Q : Where an organization needs 4094 ip addresses

Consider the case where an organization needs 4094 IP addresses. If you were to allocate this out of a 128.2.0.0 network then what would the CIDR address for that organization be. What is the subnet mask?

Q : What is the relevant measure of the value of the equipment

An Oklahoma City business paid $15,000 cash for equipment used in the business. At the time of purchase, the equipment had a list price of $20,000. When the balance sheet was prepared, the value of the equipment later rose to $22,000. What is the

Q : What is inventory position immediately after order placed

Stock is received 5 working days after an order has been placed. No backordering is allowed. Assume 300 working days a year. What is the inventory position immediately after an order has been placed?

Q : What gain will perry recognize on the transfer

Perry later gave each of his children, Brittany and Julie, 750 shares of stock in Cardinal Corporation. In the current year, Perry transfers property worth $600,000, basis of $150,000, to Cardinal for 1,000 shares in the corporation. What gain, if

1935396

Questions
Asked

3,689

Active Tutors

1450020

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Estimated taxes to avoid a penalty

Reference No:- TGS090818

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : First two progeny plants produced have red flowers

Q : To whom should betta sell the land

Q : Running an application on your hand-held device

Q : Formulate a maximum-flow problem to find completed projects

Q : Estimated taxes to avoid a penalty

Q : Where an organization needs 4094 ip addresses

Q : What is the relevant measure of the value of the equipment

Q : What is inventory position immediately after order placed

Q : What gain will perry recognize on the transfer

Cases of local communities using modern technology

How are schools important in the struggle for power

Which is a criticism of marxist/conflict theories

How sociological models help understand mental illness

How is it rational for the owner of a factory or plantation

What cases does female status tend to be highest

How the major schools of thought within sociology

Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Estimated taxes to avoid a penalty

Reference No:- TGS090818

Recent Questions Asked Accounting Basics

Q : First two progeny plants produced have red flowers

Q : To whom should betta sell the land

Q : Running an application on your hand-held device

Q : Formulate a maximum-flow problem to find completed projects

Q : Estimated taxes to avoid a penalty

Q : Where an organization needs 4094 ip addresses

Q : What is the relevant measure of the value of the equipment

Q : What is inventory position immediately after order placed

Q : What gain will perry recognize on the transfer

Asked Questions