Tax Test 1 notes

Tax Test 1 notes - Matthew Weiner Tax Notes Tax Formula...

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Matthew Weiner Tax Notes Tax Formula Income Less:Exclusions Gross Income Less: Deductions for AGI AGI Less: ID or SD Less: Exemptions TI Tax Less: Tax Credit Tax Due Exclusions from GI Accident insurance proceeds Annuities Bequests Child support payments Damages for personal injury or sickness Gifts received Inheritances Interest from state and local (muni) bonds Life insurance paid on death Scholarship grants Social Security benefits Veterans’ benefits Welfare payments Workers’ comp GI Items Alimony Annuities Awards Back pay Bonuses Business income Commissions Compensation for services Death benefits Dividends Estate and trust income Fees Gains from sale of property Gambling winnings Hobby income Interest Partnership income Pensions Professional fees Punitive damages Rents Royalties Salaries Severance pay Unemployment benefits Wages Itemized Deductions Medical Expenses in excess of 7.5% of AGI State and local income or sales taxes Real estate taxes Personal property taxes Interest on home mortgage
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Tax Test 1 notes - Matthew Weiner Tax Notes Tax Formula...

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