Anne Smith works as a dentist. In addition to what she does for a living, she runs a restaurant. She has made it clear that she wants to pay an 8 percent tax. How much tax does she owe for the year if her gross income from her job is $1,200,000 and her gross sales from her restaurant are $1,300,000?

Anne Smith works as a dentist. In addition to what she does for a living, she runs a restaurant. She has made it clear that she wants to pay an 8 percent tax. How much tax does she owe for the year if her gross income from her job is $1,200,000 and her gross sales from her restaurant are $1,300,000?

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 3DQ

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