Diego Garcia is 32 years old. Diego earned $112,000 in 2020 while emplayed as a financial analyst. The combined CPP and El deduction during 2020 totaled $3,754. Of this amount, $166 was the CPP enhanced contribution. The following information was also provided pertaining to the 2020 taxation year. a) Diego enrolled in part-time studies at the local university, paying tuition fees of $1,500. b) Diego donated $2,000 to a registered charity for tax purposes, and $800 to a federal political party c) During the year, a total of S$4,500 was spent on eyeglasses, dental care, and prescriptions, and none of this amount was reimbursed d) Diego's spouse did not work during 2020 while attending full-time post-secondary classes which cost $8.000 in tuition. The maximum allowed amount was transferred to Diego for 2020 tax purposes. Diego's spouse had no other income during the year e) Diego ha a $2,000 non-capital loss from 2019. ) The couple does not have any children. Required A. Calculate Diego's taxable income for 2020. B. Calculate Diego's federal tax liability for 2020.

Trevor is a single individual who is a cash-method, calendar-year taxpayer. For each of the next two years (2023 and 2024), Trevor expects to report salary of $98,000, contribute $8,600 to charity, and pay $3,250 in state income taxes. Required: a. Estimate Trevor's taxable income for 2023 and 2024 using the 2023 amounts for the standard deduction for both years.

Trevor is a single individual who is a cash-method, calendar-year taxpayer. For each of the next two years (2022 and 2023), Trevor expects to report salary of $108,000, contribute $8,350 to charity, and pay $3,500 in state income taxes. Required: a. Estimate Trevor's taxable income for 2022 and 2023 using the 2022 amounts for the standard deduction for both years. b. Now assume that Trevor combines his anticipated charitable contributions for the next two years and makes the combined contribution in December of 2022. Estimate Trevor's taxable income for each of the next two years using the 2022 amounts for the standard deduction. c. Trevor plans to purchase a residence next year, and he estimates that additional property taxes and residential interest will cost $3,400 and $31,000, respectively, each year. Estimate Trevor's taxable income for each of the next two years (2022 and 2023) using the 2022 amounts for the standard deduction and also assuming Trevor makes the charitable…

Kimberly is a self-employed taxpayer. She recently spent $3,300 for airfare to travel to Italy. What amount of the airfare is deductible in each of the following alternative scenarios? (Leave no answers blank. Enter zero if applicable.) b. On the trip, she spent eight days on personal activities and two day(s) on business activities. Deductible amount

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Trevor is a single individual who is a cash-method, calendar-year taxpayer. For each of the next two years (2023 and 2024), Trevor expects to report salary of $98,000, contribute $8,600 to charity, and pay $3,250 in state income taxes. Estimate Trevor's taxable income for 2023 and 2024 using the 2023 amounts for the standard deduction for both years.