PersonalCredits

PersonalCredits - ASSIGNMENT PROBLEMS PERSONAL CREDITS...

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ASSIGNMENT PROBLEMS PERSONAL CREDITS REQUIRED: Compute the current tax year personal tax credits for the taxpayer(s) whose name is capitalized. (a) MR. HANSON is single and provides support for his mother, a widow who lives in England and has an income of $700 (Can.) per year. Mr. Hanson’s employment income is $83,000. (b) PAUL, who earns $80,000 per year from his employment, was married on December 1. Paula, his spouse, has employment income of $5,000 per month. Paul and Paula, who have lived together in the same apartment for 3 years, had a daughter, Pauline, their only child, on October 1. (c) MR. JONES is married and has a 19-year old infirm dependent daughter. His employment income is $85,000. His wife’s employment income is $1,200. His daughter’s employment income is $2,900. (d) JUSTINE is divorced, maintains a residence in which she lives separately from her former spouse, and receives $1,000 per month child support payments from her former spouse. She has custody of the two children from the marriage. They are aged seven
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PersonalCredits - ASSIGNMENT PROBLEMS PERSONAL CREDITS...

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