* Advance Algebra With Finical Application *

Explain how you would calculate the amount of your payment to the government or the amount of your refund. Provide the solution
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Question

* Advance Algebra With Finical Application *

Explain how you would calculate the amount of your payment to the government or the amount of your refund. Provide the solution
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anonymous · Answer

My work !
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Part I
Scenario 1

Part II
49,500-1,800=44700
I will choose itemized deduction. AGI is 47700
Value of exemption is 3650
federal withholding 2985-750-2700= 6435
44050-6435=37615

Part III
837.50+[15%*(49,500-8,375.00)]
=837.50+[0.15*$41125]
=837.50+[6168.75]
=7006.25

Part IV
I