Joe Taxpayer had state withholding of $30,000, DMV of $1000, property taxes of $6,000. What are the

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Joe Taxpayer had state withholding of $30,000, DMV of $1000, property taxes of $6,000. What are the net state and local deductions?

Part II: Joe calls and wants to know how much paying his second installment of property taxes of $5,000 will save him. Assume he is in the 30% marginal bracket.

Posted Date: Nov 28, 2021 06:50 PM

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Joe Taxpayer had state withholding of $30,000, DMV of $1000, property taxes of $6,000. What are the

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Joe Earning 30000 Dedcutions 1000 1000 DMV Property Tax 5000 saved Taxable income 28000 x Tpe M... View the full answer

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