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The Palios celebrated the birth of their third child on November 18 . Required: a. Compute the effect of this event on their tax liability,
The Palios celebrated the birth of their third child on November 18 . Required: a. Compute the effect of this event on their tax liability, assuming that their AGI was $99,600, and their taxable income before considering the new dependent was $79,500. b. Compute the effect of this event on their tax liability, assuming that their AGI was $415,000, and their taxable income before considering the new dependent was $348,000. c. Compute the effect of this event on their tax liability, assuming that their AGI was $833,000, and their taxable income before considering the new dependent was $717,000. Assume the taxable year is 2022
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