Question
Use 2022 tax law. 12. Andy and Sally are married and under 50. They have 3 children ages 7,9 and 11. They pay Sallys mom
Use 2022 tax law.
12. 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:
Do they qualify for an earned income credit? Why or why not? If so, how much?
Do they qualify for a childcare credit? Why or why not? If so, how much?
Do they qualify for a child tax? Why or why not? If so, how much?
Compute their tax please show your work.
Compute their tax liability or refund:
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Corporate Accounting Information Systems
Authors: Tony Boczko
1st Edition
0273684876, 978-0273684879
