Use the 2019 tax tables to determine each of the following values if your adjusted gross income is $18,000. 1. Determine your tax liability if you are filing single using the standard deduction of $12,000 and have no adjustments, itemized deductions, or tax credits. 2. Determine your tax liability if you are filing single using the standard deduction of $12,000, have a child tax credit of $500, and have no other adjustments, deductions or credits. 3. Determine your tax liability if you file as head of household using the $18,000 deduction and have no adjustments, itemized deductions, or tax credits.
Use the 2019 tax tables to determine each of the following values if your adjusted gross income is $18,000. 1. Determine your tax liability if you are filing single using the standard deduction of $12,000 and have no adjustments, itemized deductions, or tax credits. 2. Determine your tax liability if you are filing single using the standard deduction of $12,000, have a child tax credit of $500, and have no other adjustments, deductions or credits. 3. Determine your tax liability if you file as head of household using the $18,000 deduction and have no adjustments, itemized deductions, or tax credits.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Use the 2019 tax tables to determine each of the following values if your adjusted gross income is $18,000.
1. Determine your tax liability if you are filing single using the standard deduction of $12,000 and have no adjustments, itemized deductions, or tax credits.
2. Determine your tax liability if you are filing single using the standard deduction of $12,000, have a child tax credit of $500, and have no other adjustments, deductions or credits.
3. Determine your tax liability if you file as head of household using the $18,000 deduction and have no adjustments, itemized deductions, or tax credits.
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