Question
Bill, age 30, is a single taxpayer with W-2 wages of $96,000. In addition, Bill receives $6,000 of tax-exempt interest income and he has $5,000
Bill, age 30, is a single taxpayer with W-2 wages of $96,000. In addition, Bill receives $6,000 of tax-exempt interest income and he has $5,000 interest income from his savings account at Citibank. He has from AGI deductions totaling $10,000.
What is Bills gross income, subject to tax?
What is Bills adjusted gross income?
What is Bills taxable income?
What is Bills tax liability (rounded)?
What is Bills marginal tax rate?
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Hospitality Industry Managerial Accounting
Authors: Raymond S. Schmidgall
8th Edition
0866124977, 9780866124973
