Wendy is a single individual who works for MTP, Inc and Jennifer, age 40, has accumulated $40,000 in
Question;Question 1.Wendy is a single individual who works for MTP, Inc. During the entire calendar year sheworks in France and pays French taxes of $8,000 on her $90,000 salary. Her taxableincome without considering her salary from MTP is $10,000. Should Wendy claim theincome exclusion or tax credit and how much tax does she save by using the alternativeselected?Question 2.Jennifer, age 40, has accumulated $40,000 in her traditional IRA. She would like towithdraw $22,000 from her IRA to pay for her daughters college expenses. She plans touse $15,000 for tuition and $7,000 for room and board. Write a letter to Jennifer statingthe tax implications of her proposed withdrawal.
Paper#38871 | Written in 18-Jul-2015Price : $19