Question
Email from New Client. From: Julien Client To: Tax Pro Subject: 2021 Tax Filing Date: November 15, 2022 Last year my significant other and I
Email from New Client. From: Julien Client To: Tax Pro Subject: 2021 Tax Filing Date: November 15, 2022
Last year my significant other and I had a combined gross income of $240,000; $15,000 of deductions found in Internal Revenue Code section 62; and $10,000 of itemized deductions. We have a few questions that we are hoping you can help us with:
What does adjusted gross income mean and what is ours? What does taxable income mean and what is ours? Based on the above and what you know about deductions, what should our total 2021 tax liability have been?
Since this is our first time working with you, can you explain to me how you got to each of your answers?
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