Question;Latesha, a single taxpayer, had the following income and;deductions for the tax year 2012:income salary$60.000 Busines income25.000;interest income from bonds10.000;Tax-exempt bond interest 5.000 total income;$100.000;Busines expenses $9.500;Itemized deductions$20.000;Personal exemption 3.800;Total deduction $33.300.;Requiered:a. Compute Latesh' taxable income and;federal tax liability for 2012?(using the table gave in class).;b.Compute Latesha's marginal, average, and;effective tax rates.;c. For tax planning purposes, which of the three;rates in part b is the most important?
Paper#42071 | Written in 18-Jul-2015Price : $22