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1) Rick, who is single, has been offered a position as a city landscape consultant. The...

1) Rick, who is single, has been offered a position as a city landscape consultant. The position pays $155,000 in cash wages. Assume Rick has no dependents. Rick deducts the standard deduction instead of itemized deductions.

A) What is the amount of Rick's after tax-compensation (ignore payroll taxes)?

Gross income $xxxx

For AGI deductions $xxxx

Adjusted gross income $xxxx

Standard deduction $xxxx

Taxable income $xxxx

Income Tax liability $xxxx

After Tax Compensation $xxxx

B) Suppose Rick recieves a competing job offer of $145,000 in cash compensation and nontaxable (excluded) benefits worth $10,000. What is the amount of Rick's after tax compensation for the competing offer?

Gross income $xxxx

For AGI deduction $xxxx

Adjusted gross income $xxxx

Standard deduction $xxxx

Taxable income $xxxx

Income Tax liability $xxxx

Total After tax compensation $xxxx

C) Which job should he take if taxes are the only concern?

A) competing job

B) Landscape Consultant

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