Laura has 2 dependent children and earns a gross yearly salary of $81,022. She will also make the following tax-deductible purchases: Student loan interest: $3,803 Educational expenses: $3,477 When she file her taxes, what will her tax refund be? Use the following information: Standard deduction for heads of households: $19,400 Biweekly allowance: $165.38 per person. For your final answer proceed as: Annual Income Tax Pay/Refund = Total Annual Withholding - Final Income Tax. If the couple has to pay the government, type the number with a negative sign. For example -1280. If the couple has to receive a refund from government, type the number without sign. For example 1280. Round your answer to the nearest dollar.
Laura has 2 dependent children and earns a gross yearly salary of $81,022. She will also make the following tax-deductible purchases: Student loan interest: $3,803 Educational expenses: $3,477 When she file her taxes, what will her tax refund be? Use the following information: Standard deduction for heads of households: $19,400 Biweekly allowance: $165.38 per person. For your final answer proceed as: Annual Income Tax Pay/Refund = Total Annual Withholding - Final Income Tax. If the couple has to pay the government, type the number with a negative sign. For example -1280. If the couple has to receive a refund from government, type the number without sign. For example 1280. Round your answer to the nearest dollar.
Chapter1: Federal Income Taxation—an Overview
Section: Chapter Questions
Problem 64P: Leroy and Amanda are married and have three dependent children. During the current year, they have...
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Aa.61.
Transcribed Image Text:Laura has 2 dependent children and earns a
gross yearly salary of $81,022. She will also make
the following tax-deductible purchases:
Student loan interest: $3,803
Educational expenses: $3,477
When she file her taxes, what will her tax refund
be?
Use the following information:
Standard deduction for heads of households:
$19,400
Biweekly allowance: $165.38 per person.
For your final answer proceed as:
Annual Income Tax Pay/Refund = Total Annual
Withholding - Final Income Tax.
If the couple has to pay the government, type
the number with a negative sign. For example
-1280.
If the couple has to receive a refund from
government, type the number without sign. For
example 1280.
Round your answer to the nearest dollar.
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