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Zion is trying to calculate the lowest taxes he can pay for 2021. Here is a list of all information Zion believes is important for
Zion is trying to calculate the lowest taxes he can pay for 2021. Here is a list of all information Zion believes is important for calculating his taxes (Hint: Zion hasn't taken FIN 205 and may include some items that aren't related to taxes). - Zion falls under the "Single" filing status. - Zion is eligible for a $12,000 standard deduction. - Zion had a gross income of \$83,273 in 2021. - Zion currently has mortgage worth $350k (that he got in 2020 ), he paid $14,500 in interest over the course of 2021. - In 2021, Zion contributed \$759 to a Roth 401K account and he also opened a traditional IRA account and contributed $698. - Zion is a student who is eligible for $2,500 in education credits. - In 2021, Zion made a donation to a charity of old, but still good condition, clothing that he didn't want anymore at an estimated value of $393 - Zion spent $35,691 on renovating and redecorating his living room over the course of 2021. What is the lowest amount of taxes Zion needs to pay given the information above? (Note: Please enter your answer without the "\$" sign for canvas to grade you correctly) good condition, clothing that he didn't want anymore at an estimated value of $393 - Zion spent $35,691 on renovating and redecorating his living room over the course of 2021. What is the lowest amount of taxes Zion needs to pay given the information above? (Note: Please enter your answer without the "\$" sign for canvas to grade you correctly)
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