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You (single) received the following information to calculate tax due: Salary 60,000 Interest 500 Tax-Exempt interest - 100 Itemized deductions 13,000 IRA deduction 1000 Solar
You (single) received the following information to calculate tax due:
- Salary 60,000
- Interest 500
- Tax-Exempt interest - 100
- Itemized deductions 13,000
- IRA deduction 1000
- Solar installation credit 500
- Tax withheld from paycheck - 4000
- Effective tax rate - 15% (Use this instead of tax tables).
What are the final taxes due? please Show work
use the tax equation
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Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective
Authors: Clyde P. Stickney, Paul Brown, James M. Wahlen
6th Edition
0324302959, 9780324302950
