George has $65,000 of salary income and Mary has $45,000 of salary income and they file a

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George has $65,000 of salary income and Mary has $45,000 of salary income and they file a joint tax return. They have two dependent children and $20,000 of itemized deductions.Determine George and Mary’s income tax liability for 2011. How much tax do they save by itemizing their deductions rather than taking the standard deduction?

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Taxation For Decision Makers 2014

ISBN: 9781118654545

6th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

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