Question: 1. What are Eric's major financial concerns in his current situation? 2. In what ways might Eric be able to improve his tax-planning efforts? 3.

1. What are Eric's major financial concerns in his current situation?

2. In what ways might Eric be able to improve his tax-planning efforts?

3. Is Eric typical of many people in our society with regard to tax planning? Why or why not?

4. What additional actions might Eric investigate with regard to taxes and personal financial planning?

5. Calculate the following:

a. Eric's taxable income would equal:

b. His 2007 federal tax liability would be:

c. Eric will receive a federal tax refund of:

Read the case: "A Single Father's Tax Situation"

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