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Presentation/PPT
27/08/2022
All applicable and appropriate payroll taxes were withheld by the employer.
During the year, Walter also received the following:
Child Support Payment from Cindi Newman $18,200
Alimony Payment from Cindi Newman $ 9,400
Gift from his father to help with legal bills $ 8,500
Interest income on U.S. Treasury Bond $ 500
Interest income of Madison City Bond (municipal) $ 400
Interest income from First Bank of Madison $ 265
Life insurance proceeds on the death of his mother $45,000
Walter is a 50% owner in a friend’s company, Bright Day Flowers (“BDF”). BDF is a Subchapter S corporation. The company reported ordinary business income for the year of $28,000. Walter acquired the stock several years ago. BDF’s employer identification number is 56-2424888.
Walter won 10 tickets through a radio contest to the touring broadway-style production of Wholesome. The value of the tickets was $130 each. Walter took his friends from work to the production.
Walter lost his job with Central Wisconsin Heating and Air on November 15 because of a reduction in work force. He collected $1,360 in unemployment benefits. He is currently looking for another job.
Walter did not own, control or manage any foreign bank accounts nor was he a grantor or beneficiary of a foreign trust during the tax year.
Through work Walter was provided with certain benefits as part of his employment:
Walter gave $3,900 to his church. He paid $3,250 in mortgage interest and $1,700 in property taxes on his home. He reported no other itemized deductions than the ones noted in this data.
Walter does not want to contribute to the Presidential Election Campaign. He would like to receive a refund (if any) of any tax he may have overpaid for the year. His preferred method of receiving the refund is by direct deposit. His bank information is: Routing number: 272359122; checking accounting number is 1089566
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