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akaslickster

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akaslickster Grand Master

akaslickster

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Jedthro had 20 minutes to get his taxes to the P.O. and mail. He grossed 46,790 dollars for the year and expected a refund of 6,023 dollars. He had to make adjustments on the refund because of his donations which ensue: breast Cancer $20.25,Lung Cancer $25.20,Homeless $20.25Alzheimers $25.20Diabetes $20.25Wildlife$25.20. When his check arrives, what will the amount be for?????????????????????????????????????????????????????????????????????????

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Jedthro had 20 minutes to get his taxes to the P.O. and mail. He grossed 46,790 dollars for the year and expected a refund of 6,023 dollars. He had to make adjustments on the refund because of his donations which ensue: breast Cancer $20.25,Lung Cancer $25.20,Homeless $20.25Alzheimers $25.20Diabetes $20.25Wildlife$25.20. When his check arrives, what will the amount be for?????????????????????????????????????????????????????????????????????????

So he made a gross income of 46,790. He paid X amount in taxes. Using our handy dandy tax lookup table (yes, I do have my 1040 booklet here in front of me), he SHOULD have paid 8,118 if he was single (you didn't give us this info so im gonna assume hes single - surely his wife would have made him do this a little earlier if he had one). We know he paid over 6,023 so he paid a total of 14,141 in taxes.

Now, he should NOT have been taxed on 46,790 because he should have deducted his donations (136.35) from his gross pay. So he should have only been taxed on 46,653.65 which means he should have only paid 8,093 in taxes. Again, he paid a total of 14,141 in taxes so he'll get back 6,048.

Booyah!

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Brandonb Grand Master

Brandonb

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So he made a gross income of 46,790. He paid X amount in taxes. Using our handy dandy tax lookup table (yes, I do have my 1040 booklet here in front of me), he SHOULD have paid 8,118 if he was single (you didn't give us this info so im gonna assume hes single - surely his wife would have made him do this a little earlier if he had one). We know he paid over 6,023 so he paid a total of 14,141 in taxes.

Now, he should NOT have been taxed on 46,790 because he should have deducted his donations (136.35) from his gross pay. So he should have only been taxed on 46,653.65 which means he should have only paid 8,093 in taxes. Again, he paid a total of 14,141 in taxes so he'll get back 6,048.

Booyah!

Can I hire you to do mine? :D

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Sorry but you fell into the trap. Jedthro would like that much instead.

What? You said "He grossed 46,790 dollars for the year and expected a refund of 6,023 dollars. He had to make adjustments on the refund because of his donations" So he made the adjustments to his taxes (saying "he had to" implies he already did it, perhaps thats why hes running so late -- had to go back and correct) and now he wants to know how much hell get back because he didn't have time to do the math.

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Jedthro had 20 minutes to get his taxes to the P.O. and mail. He grossed 46,790 dollars for the year and expected a refund of 6,023 dollars. He had to make adjustments on the refund because of his donations which ensue: breast Cancer $20.25,Lung Cancer $25.20,Homeless $20.25Alzheimers $25.20Diabetes $20.25Wildlife$25.20. When his check arrives, what will the amount be for?????????????????????????????????????????????????????????????????????????

He'll get back 6,023 - the amount he expects. he already took the donations into account.

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We will mention that philanthropists usually pay alot during the year. This one gets a REFUND.
Get his taxes implies take or send or explode his taxes through a tube to the irs.
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Jedthro had 20 minutes to get his taxes to the P.O. and mail. He grossed 46,790 dollars for the year and expected a refund of 6,023 dollars. He had to make adjustments on the refund because of his donations which ensue: breast Cancer $20.25,Lung Cancer $25.20,Homeless $20.25Alzheimers $25.20Diabetes $20.25Wildlife$25.20. When his check arrives, what will the amount be for?????????????????????????????????????????????????????????????????????????

Jedthro should just file the refund, get his 6,023, and forget about the time and hassle it would take to refigure things. With extra deductinos of 136.35, it would give him maybe $50 more on his refund. But, if he took the time to redo the whole taxes, he'd run out of time, get a late-filing penalty, and get in trouble. So, send it in, get the check for 6,023, and if he's really in the mood, file an amended return to get more money later.

NOW....

....I think there's a trick to this, because my State taxes allow donations that come straight off your return, meaning the answer would be:

6023 - 136.35 = 5886.65

OR......

....there might be more to the trick than that because I think there's no realistic way to have paid $6,023 in taxes and get that in a regund with a gross income under $50,000. With a standard deduction, I think you never would have paid that much no matter what your W2 is.

Just some thoughts...

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akaslickster Grand Master

akaslickster

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Jedthro should just file the refund, get his 6,023, and forget about the time and hassle it would take to refigure things. With extra deductinos of 136.35, it would give him maybe $50 more on his refund. But, if he took the time to redo the whole taxes, he'd run out of time, get a late-filing penalty, and get in trouble. So, send it in, get the check for 6,023, and if he's really in the mood, file an amended return to get more money later.

NOW....

....I think there's a trick to this, because my State taxes allow donations that come straight off your return, meaning the answer would be:

6023 - 136.35 = 5886.65

OR......

....there might be more to the trick than that because I think there's no realistic way to have paid $6,023 in taxes and get that in a regund with a gross income under $50,000. With a standard deduction, I think you never would have paid that much no matter what your W2 is.

Just some thoughts...

Yes YOU ARE CORRECT AS YOU WERE NOT SMOKE-SCREENED. His refund in the (story) (riddle) not in real life was for 6023 and simple 5th grade equation deduct donations only. Dont ask a CPA. :lol::lol::lol::lol::lol:
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