Question
Using the 2012 US Tax Table, calculate the tax owed for Gary and Becky who are filing jointly and have 2 dependent children. Their gross
Using the 2012 US Tax Table, calculate the tax owed for Gary and Becky who are filing jointly and have 2 dependent children.
Their gross income was $94,000
They had no adjustments.
Their deductions are:
$12,000 mortgage interest
$5,000 charitable donations
$2,500 in student loan interest
They have a tax credit of $2,000. What do they owe?
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve
9th Edition
0324381921, 978-0324381924
