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George is a business owner. He is single. The business income is taxed to him as a flow through-thus, it is on his individual tax

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George is a business owner. He is single. The business income is taxed to him as a flow through-thus, it is on his individual tax return. His expected Taxable income (after standard deduction) is $150,000 in the year 2021. He also expects Taxable Income (after the standard deduction) of $250,000 in the year 2022. His accountant has identified a tax strategy to accelerate taxable income from 2022 to 2021 (by a combination of accelerating income and deferring deductions). The overall taxable income for both years will $400,000. Review the single tax table for 2021 and assume the 2022 table will be the same as 2021. For purposes of the below questions ignore Self- employment taxes and the QBI deduction. What are the total federal income taxes paid combined for 2021 and 2022 if George does not implement any strategies? What are the total federal income taxes paid if George implements strategies that shift $100,000 of taxable income from 2022 to 2021? What is the optimal amount of taxable income that George should shift from 2022 to 2021 to reduce his taxes for the two years combined? What are the resulting total taxes

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