Question
Can someone please help me answer this ? The specific question is at the bottom. Using the married filing jointly status and their income and
Can someone please help me answer this ? The specific question is at the bottom.
Using the married filing jointly status and their income and expensestatement, calculate the 2014 tax liability for Shameka and Curtis Williams. First use the standarddeduction, and then use the following itemizeddeductions:
Income
Expenses
Earned income
$54,000.00
Home mortgage interest
$8,300.00
Interest income
1,700.00
Real estate and state income taxes
3,800.00
Miscellaneous deductions
800.00
Explain to the Williams which method they should use and why.
Assuming Shameka and Curtis are filingjointly, their exemption amount for the 2014 tax year is ?
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