If the answer is yes, what amounts will he be paying and which alternative is the best. Include the due dates for the instalment.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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At the beginning of 2016, the following information related to James Murphy: Year 2014- Taxable Income = $55000. Amount withheld = $53000 Year 2015- Taxable Income = $59000. Amount withheld = $54000 Year 2016- Taxable amount = $66000. Amount withheld = $ 60000 Is James required to make instalment payments during 2016? If the answer is yes, what amounts will he be paying and which alternative is the best. Include the due dates for the instalment.

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