tax issue/Ethic Letter

timer Asked: Nov 24th, 2015

Question description

Chris wants help in figuring her gross income for the year. She was unemployed as the year began and collected $2,000 unemployment. She later got a job as a manager for Ark Communications, Inc. She earned $55,000 in base salary. He boss gave her a bonus check of $5,000 at Christmas. She decided to hold onto the check and not cash it so that it would not be taxable for this year. She also got fringe benefits on her job including a gym membership that costs $400 a year. She received a gold watch worth $300 for managing her department with the least accidents during the year. But her good luck did not end there. She found $5,000 in cash in the parking lot one day and kept it, of course. She also won $8,000 in a drawing at a local grocery store which sent her a 1099. But, she also won about $6,000 cash playing poker with a group of friends on Friday nights and her friends don’t issue 1099s.

Tutor Answer

(Top Tutor) Studypool Tutor
School: University of Virginia
Studypool has helped 1,244,100 students
flag Report DMCA
Similar Questions
Hot Questions
Related Tags

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors