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Through November, Cameron has received gross income of $123.500 For December, Cameron is considering whether to accept o
Posted: Sun Jun 05, 2022 7:14 pm
by answerhappygod
- Through November Cameron Has Received Gross Income Of 123 500 For December Cameron Is Considering Whether To Accept O 1 (26.69 KiB) Viewed 44 times
- Through November Cameron Has Received Gross Income Of 123 500 For December Cameron Is Considering Whether To Accept O 2 (20.63 KiB) Viewed 44 times
Through November, Cameron has received gross income of $123.500 For December, Cameron is considering whether to accept one more work engagement for the year Engagement 1 will generate $7.910 of revenue at a cost to Cameron of $3,350, which is deductible for AGI. In contrast, engagement 2 will generate $5.700 of qualified business income (QB), which is eligible for the 20 percent QBI deduction Cameron files as a single taxpayet, and he did not contribute to charity during the year Calculate Cameron's taxable income assuming he chooses engagement 1 and assuming he chooses engagement 2. Assume he has no itemized deductions Description Engagement 1 Engagement 2 (1) Gross income before new work engagement (2) Income from engagement (3) Additional for AGI deduction (4) Adjusted gross income (6) Deduction for QB Taxable income
David and Lilly Fernandez have determined their tax liability on their joint tax return to be $3,100. They have made prepayments of $1,940 and also have a child tax credit of $2,000. What is the amount of their tax refund or taxes due? Description Amount Total tax