How much is the income taxes of Mr. and Mrs. A if opted to use th...

   

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How much is the income taxes of Mr. and Mrs. A if opted to use th 8% income tax option? How much is the income taxes of Mr. and Mrs. A if opted to use the graduated tax table? Mr. A is in business, Mrs. A is in the practice of profession, and Mr. and Mrs. A had gross rent income and expenses related to it. From the data: Gross sales of Mr. A from business Gross receipts of Mrs. A from practice of profession Gross rent income (gross receipts) Cost and expenses, business of Mr. A Cost and expenses, profession of Mrs. A Expenses on the rental property 1,500,000.00 900,000.00 500,000.00 700,000.00 200,000.00 200,000.00 How much is the income taxes of Mr. and Mrs. A if opted to use th 8% income tax option? How much is the income taxes of Mr. and Mrs. A if opted to use the graduated tax table? Mr. A is in business, Mrs. A is in the practice of profession, and Mr. and Mrs. A had gross rent income and expenses related to it. From the data: Gross sales of Mr. A from business Gross receipts of Mrs. A from practice of profession Gross rent income (gross receipts) Cost and expenses, business of Mr. A Cost and expenses, profession of Mrs. A Expenses on the rental property 1,500,000.00 900,000.00 500,000.00 700,000.00 200,000.00 200,000.00

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To calculate the income taxes of Mr and Mrs A we need to consider their gross income from business profession and rental property as well as their ded... View the full answer