Personal Finance OC $(2$ND $12WK=\frac{01}{29}$

M$10$ Assignment: Income Tax Preparation

$1,419$ minutes remaining

Assignment Content

Priar to submitting this assignment, make sure you have completed the associated Learning Activities and Practices Exertises in the module.

This is the eleventh Financial Planning Simulation Capstone Project installment as outlined in Module A located in the Learning Modules section. It is assumed that you have finished your first full year of employment, need to determine the amount of income tax owed or to be refunded, and need to develop strategies which will help you to reduce your tax liability in future years.

You will complete this assignment based on the difference between the standard and itemized deductions and their appropriate application, the steps prescribed in the tax law to determine tax liability, and key income tax planning strategeres designed to reduce income tax liability.

Based on your review of your tax$-$related information, you developed the following summary which will be utilized for the first requirement: