Bob is single and his tax rates are 10% on the first $8375 of taxable income, 15% of the amount over $8375 up to $34,000 of taxable income and 25% on the remainder.  He has $61,090taxable income. What's his tax liability?

Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 30P: Lisa records nonrefundable Federal income tax credits of 65,000 for the year. Her regular income tax...
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Bob is single and his tax rates are 10% on the first $8375 of taxable income, 15% of the amount over $8375 up to $34,000 of taxable income and 25% on the remainder.  He has $61,090taxable income. What's his tax liability?

 

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