Taxation Practice- 20 Pts Your Assignment: Answer the questions below using the provided information as well as the supplemental information at the end of the document. If you have no information regarding a deduction or adjustment, assume there is nothing that would affect the tax calculation 1. You are a single person with no dependents, caming salary of 547 810. You have starts to your income. Use the information provided to find your encome the Taxable income groun income adjustments deductions exemption Then find your tax liability. Explain how you found your answer points: 3 for the correct answer for the supporting explanation ANSWER: Taxable income 2. You need that special pension and get married Amazing your spouse has EXACTLY same income you do, 547,810. your tax status in row married ing jindy, what is your time ability? Explain how you calculated this. Remember your income as a couple is double you individual income (6 points for the corect answer to the supporting explanation ANSWER 2. There are now twice as many people in the household, but your income has she doubled much or less than twice as much? To whether you think this incear the lack of one sooms for (6 points: 3 for identifying the relationship comedy for the discussion of ANSWER: 4. Congratulation! You now have a child is you have a dependent) What is your ability you flejny now? Identify how this changes your calculations (for the correct answer, 1 for identifying what has changed in the calculation ANSWER: 5. How did your ability change when you had a chad? Why do you think the do this? (6 points: 3 for comedy finding the change in changel ANSWER Taxation Practice- 20 Pts Your Assignment: Answer the questions below using the provided information as well as the supplemental information at the end of the document. If you have no information regarding a deduction or adjustment, assume there is nothing that would affect the tax calculation 1. You are a single person with no dependents, caming salary of 547 810. You have starts to your income. Use the information provided to find your encome the Taxable income groun income adjustments deductions exemption Then find your tax liability. Explain how you found your answer points: 3 for the correct answer for the supporting explanation ANSWER: Taxable income 2. You need that special pension and get married Amazing your spouse has EXACTLY same income you do, 547,810. your tax status in row married ing jindy, what is your time ability? Explain how you calculated this. Remember your income as a couple is double you individual income (6 points for the corect answer to the supporting explanation ANSWER 2. There are now twice as many people in the household, but your income has she doubled much or less than twice as much? To whether you think this incear the lack of one sooms for (6 points: 3 for identifying the relationship comedy for the discussion of ANSWER: 4. Congratulation! You now have a child is you have a dependent) What is your ability you flejny now? Identify how this changes your calculations (for the correct answer, 1 for identifying what has changed in the calculation ANSWER: 5. How did your ability change when you had a chad? Why do you think the do this? (6 points: 3 for comedy finding the change in changel
