5 Richie\'s parents have been generous with Richie over the years. Richie is a 2
ID: 2333171 • Letter: 5
Question
5 Richie's parents have been generous with Richie over the years. Richie is a 21 years old and works at a local Hawaiin Shave Ice shack while attending college. Richie earned $2,000 at his job and received $4,000 in investment income. When not at school, Richie lived at home. Richie':s work income went to pay for his college student life-style (some road trips to away games and eating out with friends). Richie's parents pay for his housing. What is Richie's filing status and tax liability for 2018? (3 pts)Explanation / Answer
Effective Tax Rate is 7.65%
The Richie's filling status is Single.
The Tax liabilities for year 2018 is $459.00
Yearly Gross Income $6000.00 Taxable Income $0.00 Federal Tax $0.00 State Tax $0.00 Social Security $372.00 Medicare $87.00 Total FICA $459.00 Take Home $5,541.00