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Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds
albert''s granfather died and left a portafolo of municipal bonds. in 2016, the pay ivan $80.000 in tax-free interest. since the bonds
Taxable income Tax on this income $0 - $37,000 29c for each $1 $37,001 - $80,000 $10,730 plus 30c for each $1 over
The following 2012 projected income statement is provided by your new client, John Green, single, and sole proprietor of Green Industries. Green Industries started business in Marc
should be on 2012 forms and done in pencil. It should include a schedule that shows the fiduciary income calculation and other relevant calculations. Jack Green established the Jac
acc565 discussion for week 8
1-7
Tax Liability Calculation Morgan (age 45) is single and provides more than 50% of the support of Rosalyn (a family friend), Flo (a niece, age 18), and Jerold (a nephew, age 18). Bo
Ben Grimm is a 40% partner in We Four, LLC a super-heroing organization. (He does most of the heavy lifting. Reed has 40%, he is the brains. Sue has 10%--they never see her doin
Avis's taxable income for the year is $300,000 and Best's taxable income for the year is $425,000. For each of the scenarios provided, (a) state if a control group has been created
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