Personal Finance Appendix h

Axia College Material
Appendix H

Tax Return Worksheet

Directions: Review Gloria Ramsays tax return. Answer the following questions based on the teaching listed in her return.

1. in time though Gloria is integrity, her register status is foreman of Household. Why is Gloria open to file as head of kinsperson?
Gloria can file as head of household because she is single and has a dependent and would file as head when she pays all over 50% of maintaining the household.

2.How does Gloria benefit from filing as head of household, rather than single?
She will get better tax evaluate with Head of Household.

3.What is Glorias adjusted gross income?
22,275

4.Which line in the tax form did you find her total income?
Line 15

5.Even though Gloria is filing the short form (1040A), she is still able to get three credits. What are the three credits Gloria receives? add up the line you run aground the answers on as well.
Line 29 - Credit for child care - 728, line 41 - spare child tax credit 1,000, and Earned income credit 1,833(line 6 in calculating your credit).

6.How often of a refund is Gloria freeing to receive?
4,333

7.What are the four steps listed in the filing checklist?
1.Sign and date the return. 2.



Assemble the return. 3. Mail the return. 4. Keep a copy.

8.On the Wage and Tax statement, list how much Gloria remunerative in her Federal Tax Withholding?
Fed Tax-1,500

9.How much did she pay in Social Security and Medicare?
SocSec Tax-1,721, Med Tax-326

10.Share matchless thing you found interesting when looking through these forms. Was anything immature to you? Do you have any questions about these forms?
I found it all very interesting, and it is all very new to me. I have been dealing with medical issues since high school, never had a job, and barely going back to school. I have no experience of my own when it comes to taxes. I think that the hardest thing for me is find when a person is able to file...If you want to get a full essay, order it on our website: Orderessay



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