Ed's tax liability for last year was $24,000. Ed projects that his tax for this year will
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Ed's tax liability for last year was $24,000. Ed projects that his tax for this year will be $34,000. Ed is self-employed and, thus, will have no withholding. His AGI for last year did not exceed $150,000. How much estimated tax should Ed pay for this year to avoid the penalty for underpaying estimated taxes?
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Ed should pay 17000 in estimated taxes for this year to avoid th...View the full answer
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Tamondong Riza
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Related Book For 
Federal Taxation 2020 Comprehensive
ISBN: 9780135196274
33rd Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
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