Comprehensive Problem 66

Comprehensive Problem 66 (Ch. 6) Jeremy and Alyssa Johnson have been conjoin for five-spot years and do not have any children. Jeremy was married previously and has one child from the prior marriage. He is mugwump and operates his own computer parts store. For the first two months of the year, Alyssa worked for Staples, Inc., as an employee. In March, Alyssa accepted a sensitivefound job with crack Toys, Inc. (ST), where she worked for the remainder of the year. This year, the Johnsons received $255,000 of gross income. Determine the Johnsons AGI habitual the following information: a. Expenses associated with Jeremys store include $40,000 in salary (and oeuvre taxes) to employees, $45,000 of cost of goods sold, and $18,000 in rent and new(prenominal) administrative expenses. b. As a salesperson, Alyssa incurred $2,000 in travel expenses link to her employment that were not reimbursed by her employer. c. The Johnsons own a append of enthronization real estate. Th ey paid $500 of real place taxes on the property and they incurred $200 of expenses in travel cost to incur the property and to evaluate other similar emf investiture properties. d. The Johnsons own a rental alkali. They incurred $8,500 of expenses associated with the property. e.

The Johnsons home was plainly five miles from the Staples store where Alyssa worked in January and February. The ST store was 60 miles from their home, so the Johnsons decided to move to make the commute easier for Alyssa. The Johnsons new home was only ten miles from the ST store. However, it was 50 miles from their former(prenomi nal) residence. The Johnsons paid a lamenta! ble company $2,000 to move their possessions to the new location. They also swarm the 50 miles to their new residence. They stopped on the way for luncheon and spent $60 eating at Dennys. None of the moving expenses were reimbursed by ST. f. Jeremy paid $4,500 for health redress coverage for himself. Alyssa was cover by health plans provided by her employer, notwithstanding Jeremy is not...If you want to come out a full essay, order it on our website: OrderCustomPaper.com

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