Question
Please Use 2022 tax law. Andy and Sally are married and under 50. They have 3 children ages 7,9 and 11. They pay Sallys mom
Please Use 2022 tax law.
Andy and Sally are married and under 50. They have 3 children ages 7,9 and 11. They pay Sallys mom $200 a month for the entire year to care for the children.
Sallys salary (Federal withholding $ 800) 8,000
Andys salary (Federal withholding $500) 7,000
If they take a standard deduction, compute their taxable income:
1.Do they qualify for an earned income credit? Why or why not? If so, how much?
2.Do they qualify for a childcare credit? Why or why not? If so, how much?
3.Do they qualify for a child tax? Why or why not? If so, how much?
4.Compute their tax
5.Compute their tax liability or refund:
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