Individual Geometry Contractors’ Tax Form 1040 AAA

for School Year 2011-2012

Contractor Name: ______BTW SID: ______

Company Name: ______CEO: ______

1.  Enter Individual Project Income (wages and dividends).
2.  Enter amount of charitable contributions that you received from others. / 2.
3.  Add the amounts on line1 and line 2 and enter the total on line 3.
This is your Gross Project Income. / 3.
4.  A. Enter the LESSER of $400.00 or your Gross Project Income on line 4a / 4A
B. Enter any Charitable Contributions made to impoverished classmates, indicating the recipient and the amount of the contribution
a. / a.
b. / b.
c. / c.
d. / d.
e. / e.
f. / f.
C. Add lines 4.B.a through 4.B.f. Enter total on line 4.C. / 4.C.
D. Enter on Line 4D your Itemized Deductions from Schedule A / 4.D
5.  Add lines 4.A., 4.C, and 4.D. These are your deductions. Enter this amount on line 5 / 5.
6.  Subtract line 5 from line 3. If this difference is less than zero, then enter zero on Line 6. Otherwise, enter the difference on line 6.
This is your Taxable Income. / 6.
7.  Calculate your tax
7a. If the amount on line 6 is zero then you owe no tax. Enter zero on line 8, sign and date your tax form and submit it to the local authority. / 7a
7b. If the amount is greater than zero but less than $500, then multiply the amount on line 6 by 10% (0.10) and enter the amount on line 7b and line 8. / 7b.
7c. If the amount is greater than $500 but less than $1000, then multiply the amount on line 6 by 25% (0.25) and enter the amount on line 7c and line 8. / 7c.
7d. If the amount is greater than $1000 but less than $2000, then multiply the amount on line 6 by 38% (0.38) and enter the amount on line 7d and line 8. / 7d.
7e. If the amount is greater than $2000, then multiply the amount on line 6 by 47% (0.47) and enter the amount on line 7e and line 8. / 7e.
8.  Enter on line 8 the calculated amount of tax from lines 7a through 7e above, the amount of tax you owe and will be deducted from your income. / 8.
9.  To calculate your net income, subtract the amount on line 8 from the amount on line 3. / 9
10.  Sign and Date your tax form. Then return it to the local authority.
Signature of Taxpayer / Date of Preparation

Schedule A—Itemized Deductions

Contractor Name: ______BTW SID: ______

Company Name: ______CEO: ______

Section A: Membership Deduction
Enter on Line A1 Number of Members in your group / A1.
List the members of your group by Name, Gender and Ethnicity
Name / Gender / Ethnicity
1
2
3
4
5
6
A2. Does your group meet the Affirmative Action criteria for mixed gender and ethnicity? / A2. / Yes
No
A3. If the number on Line A1 is 4 to 6, then enter $100 on Line A3; otherwise, enter -$100 on Line A3. / A3.
A4. If Line A2 is “Yes”, then enter $100 on Line A4. Otherwise, enter $0.00 / A4.
A5. Add Lines A3 and A4. This is your membership deduction.
Enter the total on Line A5. / A5.
Section B: Expenses Deduction
B1 How many matchsticks did you use in the construction of your bridge? Enter total on Line B1 / B1
B2 How many units of glue did your group use in the construction of your bridge? Enter number on Line B2. / B2
B3 Multiply the number on Line A1 by 250. / B3
B4 Divide the number on Line B1 by the number on Line B3. / B4
B5 Divide the number on Line B2 by the number on Line A1. / B5
B6 Multiply the number on Line B4 by $50. Enter on Line B6. / B6
B7 Multiply the number on Line B5 by $30. Enter on Line B7. / B7
B8 Add the numbers on Lines B6 and B7. Enter the total on Line B8.
This is your expenses deduction. / B8.
Section C: Labor Deduction
C1 Enter the number of hours that you worked on the bridge project, including the four hours in class. / C1
C2 Subtract 10 from the number on Line C1. / C2
C3 If the number on Line C2 is zero or less, then enter $0.00 on Line C3. Otherwise, multiply the number on Line C2 by $50 and enter the total on Line C3. This is your total Labor Deduction. / C3.
Summary of Deductions
Add the numbers on Lines A5, B8, and C3. This is your Total Itemized Deductions. Enter the total here and on Line 4D of Form 1040 AAA

Warning: Failure to submit a tax form accurately reporting your income may result in the governmental seizure of ALL of your assets