HW 4

ques I Mike's gross y rly income is 51,988 he's single no kids his tax eductible purchases are charitable contributions 2.017 6,163 2 mortgage interest 8 1,733 3 student loans 8 2 413 compute his taxable income to the nearest dollar ing file e call the standard deduction for single filers 8 12,950 O taxable income gross income deductions taxable income 51 988 12,950 39,038 M t filing her taxes as a single filer no kids her gross y rly income is 172,75 her tax deducts are Jan 2 mortgage interest 8 3,221 compute her final income tax using the following ou nd ans to nearestdollar e call the standard deduction for single filers 8 12,950 O taxable income gross income deductions 172,759 12,950 159,809 O let's find her income tax 5,213.50 0.24 159,809 89 075 32,189 66 er income tax is 32,190

Ues 3 married w 3 Kids are filing tg they have a gross income of 273,297 they made the lowing tax deducts 8 1 charitable contr 8 8.806 15,509 2 med exps 8 2,079 3 mortgage int 8 4,624 ompute their final income tax w the following round ans to nearestdollar e call the standard deduction for married filers 25,900 O taxable income gross income deductions 273,297 25,900 247,397 ow calc their income tax 30,427 0.24 1247,397 178,1501 47,046.28 emember they have 3 kids leach kid 2,000 credit 47,046 28 6,000 41 046.28 O their final income tax is 41,046 ÉÉi single has 3 kids gross yay salary of 71 047 she will also make the following tax deducts 8 1 educational exps 8 14,002 alculate her final income tax

O taxable income gross income deductions 1,047 19400 51.647 all income tax 1,465 012 151,647 14 6501 5,904.64 e member she has 3 Kids 13 2,000 5,904 64 6,000 95.36 he will have a refund of 95.36 fgro nual salary is 115,016 w biweekly paychecks if he's single w 4 dep child Ompute the biweekly holding his employer sends the IRS biweekly allowance is 165.381 person alculate biweekly salary 115,016126 4,424 alculate allowances 21165.38 330.76 subtract from biweekly inc 4,424 330.76 4093.24 is biweekly taxable income is 4,093.248 wit holding 637 40 10.32114 093.24 3,6431 781.47 quesHI arks gross an N Salary is 74,395 biweekly paychecks he's married w I 4 dep kids Om pule the biweekly holding his employer sends the IRS biweekly allowance is 165.381 person