Question: Trudy s AGI last year was 200 000 Her Federal income tax

Trudy's AGI last year was $200,000. Her Federal income tax came to $65,000, which she paid through a combination of withholding and estimated payments.
This year, her AGI will be $300,000, with a projected tax liability of $45,000, all to be paid through estimates.
a. Ignore the annualized income method. Compute Trudy's quarterly estimated tax payment schedule for this year.
b. Assume instead that Trudy's AGI last year was $100,000 and resulted in a Federal income tax of $20,000. Determine her quarterly estimated tax payment schedule for this year.

View Solution:


Sale on SolutionInn
Sales2
Views177
Comments
  • CreatedSeptember 09, 2015
  • Files Included
Post your question
5000