4. Joseph Addai determined the following tax information: gross salary, $59,400; interest earned, $90; IRA contribution, $1000;

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4. Joseph Addai determined the following tax information:

gross salary, $59,400; interest earned, $90; IRA contribution, $1000; personal exemption, $3400; and itemized deductions, $3950. Calculate Joseph’s taxable income and tax liability. (Hint: Use Table 4.3.)

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Personal Finance

ISBN: 9780618938735

9th Edition

Authors: E. Thomas Garman, Raymond Forgue

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