Question
Course Name: Tax and Zakat Accounting Course Code: ACCT 422 Q2. Richard is a single taxpayer provided the following information for 2013: Salary $88,000 Interest
Course Name: Tax and Zakat Accounting
Course Code: ACCT 422
Q2. Richard is a single taxpayer provided the following information for 2013:
| Salary | $88,000 |
| Interest on local government bonds (qualifies as a tax exclusion) | $7000 |
| Allowable itemized deductions | $15,000 |
| Personal exemption | $3,900 |
Required:
What is his taxable income?
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Auditing And Assurance Services Plus Pearson MyLab Accounting With Pearson EText
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
17th Global Edition
1292312106, 978-1292312101
