Question

Short Answer Questions Make sure to show all of your work in order to receive partial credit! Question 33 (5 points) Juan is single and earns a salary of $65,000. His allowable deductions for adjusted gross income total $1,200 and he has $8,200 of allowable itemized deductions. What is Juan's taxable income and income tax liability for 20197 34 (7 points) kle individual who worked the entire year for Waterworks Company in Ireland. He paid $13.000 in Irish MacBook Air F5

Answer 1

Standard deduction for single taxpayer = $12,200

Itemized deductions = $8,200

He can claim standard deduction to reduce his tax liability.

Therefore, his taxable income = $65,000 - $12,200 - $1,200

= $51,600

He falls under the tax bracket of 22%

Therefore, his tax liability would be $11,352 for 2019