Kana is a single wage earner with no dependents and taxable income of $205,000 in 2018. Her 2017 taxable income was $155,000 and tax liability was $36,382. Calculate Kana’s 2018 income tax liability and the minimum required 2018 annual payment necessary to avoid any penalty. Round your answers to two decimal places. Click here to access the income tax rate schedules. Kana’s 2018 income tax liability: $Kana’s minimum required 2018 annual payment necessary to avoid any penalty: $
Kana is a single wage earner with no dependents and taxable income of $205,000 in 2018. Her 2017 taxable income was $155,000 and tax liability was $36,382. Calculate Kana’s 2018 income tax liability and the minimum required 2018 annual payment necessary to avoid any penalty. Round your answers to two decimal places. Click here to access the income tax rate schedules. Kana’s 2018 income tax liability: $Kana’s minimum required 2018 annual payment necessary to avoid any penalty: $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Kana is a single wage earner with no dependents and taxable income of $205,000 in 2018. Her 2017 taxable income was $155,000 and tax liability was $36,382.
Calculate Kana’s 2018 income tax liability and the minimum required 2018 annual payment necessary to avoid any penalty. Round your answers to two decimal places.
Click here to access the income tax rate schedules.
Kana’s 2018 income tax liability: $
Kana’s minimum required 2018 annual payment necessary to avoid any penalty: $
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