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TAx form 1040




Question;To my friendly student tax preparer;Hello, my name is Shady Slim. I understand;you are going to help me figure out my gross;income for the year?whatever that means.;It?s been a busy year and I?m a busy man, so let;me give you the lowdown on my life and you;can do your thing.;I was unemployed at the beginning of the;year and got $2,000 in unemployment;compensation. I later got a job as a;manager for Roca Cola. I earned $55,000 in base salary;this year. My boss gave me a $5,000;Christmas bonus check on December 22. I decided to;hold on to that check and not cash it until;next year, so I won?t have to pay taxes on it this;year. Pretty smart, huh? My job?s pretty;cool. I get a lot of fringe benefits like a membership;to the gym that costs $400 a year and all;the Roca Cola I can drink, although I can?t really;drink a whole lot. I also got an award for;having the department with the least number of;accidents. My boss gave me a gold watch;worth $300!;As part of my manager duties, I get to;decide on certain things like contracts for the;company. My good buddy, Eddie, runs a;bottling company. I made sure that he won the;bottling contract for Roca Cola for this;year (even though his contract wasn?t quite the best).;Eddie bought me a Corvette this year for being;such a good friend. The Corvette cost;$50,000 and he bought it for me out of the;goodness of his own heart. What a great guy!;Here?s a bit of good luck for the year.;Upon leaving my office one day, I found $10,000;lying in the street! Well, one person?s bad;luck is my good luck, right?;I like to gamble a lot. I won a $22,000;poker tournament in Las Vegas this year. I also won;about $5,000 over the year playing the guys;at our Friday night poker game. Can you believe;that I didn?t lose anything this year?;Speaking of the guys, one of them hit me;with his car as we were leaving the game one;night. He must have been pretty ticked that;he lost! I broke my right leg and my left arm. I;sued the guy and got $11,000 for my medical;expenses, $3,000 to pay my psychotherapist;for the emotional problems I had relating;to the injuries (I got really depressed!), and I won;$10,000 in punitive damages. That?ll teach;him that he?s not so tough without his car!;Another bit of bad luck. My uncle Monty;died this year. I really liked the guy, but the;$200,000 inheritance I received from him;made me feel a little better about the loss. I did the;smart thing with the money and invested it;in stocks and bonds and socked a little into my;savings account. As a result, I received;$600 in dividends from the stock, $400 in interest;from the municipal bonds, and $300 in;interest from my savings account.;My ex-wife, Alice, is still paying me;alimony. She?s a lawyer who divorced me a few years;ago because I was ?unethical? or something;like that. Since she was making so much money;and I was unemployed at the time, the judge;ruled that she had to pay ME alimony. Isn?t that;something? She sent me $3,000 in alimony;payments this year. She still kind of likes me;though. She sent me a check for $500 as a;Christmas gift this year. I didn?t get her anything;though.


Paper#40194 | Written in 18-Jul-2015

Price : $29