Question
Sam earned $ 43500 from wages and 1250 in interest and made tax deferred contributions of $ 4000 to a retirement fund. Sam is single
Sam earned $ 43500 from wages and 1250 in interest and made tax deferred contributions of $ 4000 to a retirement fund. Sam is single and uses standard deductions. Calculate the total Federal tax bill. ( This is income tax and FICA taxes totaled together. Use tax rates in book. Sam is single and takes standard deductions)
25% Tax Rate
$6100 Standard Deduction
$3900 Expemtion Per Person
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Financial Accounting Theory
Authors: Craig Deegan
3rd Edition
0070277265, 978-0070277267
