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personal finance class! how to calculate taxes in this case? Another tax return calculation YAAAYYYYYY! Due 4/30/2019 Help Kamal prepare his 2018 tax return. He
personal finance class! how to calculate taxes in this case?
Another tax return calculation YAAAYYYYYY! Due 4/30/2019 Help Kamal prepare his 2018 tax return. He calculated his Adjusted Gross Income to be $95,600. He hopes to lower his tax bill though, because he has several significant itemized deductions: he paid $7,000 of mortgage interest, and donated $6,000 to charity. Kamal paid $13,000 through his employers pay check withholding in federal income taxes over the course of the year. Does Kamal owe more taxes, or should he expect a tax refund? How much? a. b. What is his marginal tax bracket? What is his average tax rateStep by Step Solution
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