ACC 330 Final Project Two Tax Planning COMPLETED.docx - ACC...

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ACC 330 Final Project Two Tax Planning Maloney, Raabe, Young, Nellen, & Hoffman, CPAs 5191 Natorp Boulevard Mason, OH 45040 October 29, 2019 Dan and Freida Butler 625 Oak Street Corbin, KY 40701 Dear Dan and Freida, You asked me to estimate your after-tax income under the assumption that Dan will work only halftime next year. The $37,000.00 reduction in Dan’s pay will be partially offset by a $4,000.00 estimated increase in the amount Freida will earn. This net $33,000 reduction in salary and wages will also result in a decrease in your Kentucky income tax, Social Security tax, and Medicare tax. The net reduction in your

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