ACC 401 Week 4 Assignment Chapter 9, Problem 42 problem 49 (UOP)./ uophelp

ACC 401 Week 4 Assignment Chapter 9, Problem 42 problem 49 (UOP)To Purchase This Material Click below Linkhttp://www.acc401tutor.com/ACC-401-Week-4-Assignment-Chapter-9-Problem-42-problem-49FOR MORE CLASSES VISITwww.acc401tutor.com42. Tim and Martha paid $7,900 in qualified employment-related expenses for their threeyoung children who live with them in their household. Martha received $1,800 of dependentcare assistance from her employer, which was properly excluded from gross income. Thecouple had $57,000 of AGI earned equally by Tim and Martha. What amount of child anddependent care tax credit can they claim on their Form 1040? How would your answer differ(if at all) if the couple had AGI of $36,000 that was entirely earned by Tim?49. Jeremy and Celeste paid the following for their daughter, Alyssa, to attend University ofColorado, during 2009. Alyssa was in her first year of college and attended full-time:Tuition and fees (for fall semester 2009) $1,950Tuition and fees (for spring semester 2010)1,000Books 600Room and board 1,200 The spring semester at University of Colorado begins in January. Inaddition to the above, Alyssa’s uncle Devin sent $800 as payment for her tuition directly tothe University. Jeremy and Celeste have modified AGI of $165,000. What is the amount ofqualifying expenses for purposes of the Hope credit? What is the amount of Hope credit thatJeremy and Celeste can claim based on their AGI?Chapter 10, complete problem 49 andproblem 57.49. Allison is paid $500 per week. What is the amount of federal income tax withheld fromAllison’s paycheck under the following conditions? Use the percentage method table in theappendix to this chapter.a. Allison is single and claims three withholding allowancesb. Allison is married and claims three withholding allowancesc. Allison is single and claims one withholding allowance57. Jones Company has the following employees on payroll:Calculate the payroll for the last pay period in February. Include in your calculations federalwithholding, FICA, and FUTA. Assume that Jones Company received the maximum credit forstate unemployment taxesChapter 11, complete problem 49 and problem 52. Submit these items to your instructor.49. Will, who is single and under age 50, is employed as a full-time tax accountant at a localmanufacturing company where he earns $60,000 per year. He participates in a pension planthrough his employer. Will also operates a small tax practice in his spare time during taxseason and has net Schedule C income of $8,000. He is interested in establishing andcontributing to other retirement plans. What options are available to Will?52. Ken is a self-employed architect in a small firm with four employees: himself, his officeassistant, and two drafters, all of whom have worked for Ken full-time for the last four years.The office assistant earns $30,000 per year and each drafter earns $40,000. Ken’s netearnings from self-employment (after deducting all expenses and one-half of self-employment

taxes) are $305,000. Ken is considering whether to establish an SEP plan and has a fewquestions.