I have never done this before but I need help with two problems for my tax class. Can you please help me?:
1. Torri is a sixth grade teacher. In 2016, she earned a salary of $31950. She contributed $615 to her Roth IRA and paid $910 in student loan interest. What is Torri?s taxable income and income tax if she is single and does not itemize deductions? (Enter your final answers without using comma separator, e.g. 5225. Round income tax answer to 2 decimal places, e.g. 5275.50.)
2. John is a 36-year-old calendar-year taxpayer whose wife died in August of 2016. His eight year-old son lives with him. During 2016, he had salary income of $50700, $560 of dividend income, and received $49100 from the life insurance policy on his wife. He made a $1800 contribution to his regular IRA and paid $9700 for a hospital bill and $3000 for a doctor bill for his deceased wife. He also paid $4100 in mortgage interest, $840 in property taxes, $300 of credit card interest and $380 in job hunting expenses when he tried to find a better paying job in the same line of work in March. Determine John?s income tax liability for 2016 before any allowable credits. (Enter your final answer without using comma separator, e.g. 5225. Round answer to 2 decimal places, e.g. 5275.50.)
This question was answered on: Jan 30, 2021
Buy this answer for only: $15
This attachment is locked
We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free solution (Deadline assured. Flexible pricing. TurnItIn Report provided)
Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
About this QuestionSTATUS
Jan 30, 2021EXPERT
GET INSTANT HELP/h4>
We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.
You can also use these solutions:
- As a reference for in-depth understanding of the subject.
- As a source of ideas / reasoning for your own research (if properly referenced)
- For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
NEW ASSIGNMENT HELP?
Order New Solution. Quick Turnaround
Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.
WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.