Use 2020 Tax Rules Betty W2 is as follows: Gross wages 62,800 Federal income tax withheld 10,000 State of Arizona income tax withheld
Use 2020 Tax Rules
Betty W2 is as follows:
Gross wages 62,800
Federal income tax withheld 10,000
State of Arizona income tax withheld 2,954
During the year Betty received interest of $1,300 from Arizona Savings Bank and $400 from Mesa Bank. With a $1,100 income tax refund from Arizona State on May 8th, 2020. Since 2019 Tax return she reported $28,200 in itemized reduction - including $2,200 of state income tax withheld.
She has a Short Term
She has a revenue of $61,370 with an expense of $1,240 and other expenses of $3,500. She also has purchased assets for a total of $12,000.
Calculate her Total Gross Income: The answer is 113,630, but I keep getting 2,200 off.
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How did you calculate Net Income from business?
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