Question
Bob and Brenda Horton, a married couple filing joint return for 2011. Both Bob and Brenda are 32 and have no dependents. (hint ignore credits.)
Bob and Brenda Horton, a married couple filing joint return for 2011. Both Bob and Brenda are 32 and have no dependents. (hint ignore credits.)
Gross Income $192,000
Adjusted Gross Income $182,000
Itemized deductions of $22,600
Withholding of $32,000
What is the amount of their taxable income?
Tax Liability?
Their tax due or refund due?
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Financial Accounting An Introduction To Concepts Methods And Uses
Authors: Clyde P. Stickney, Roman L. Weil
12th Edition
0324381980, 978-0324381986
