Discussion Board Detail the tax formula for calculating federal income tax liability for the individual. Be sure to include examples of the items included in the formula

At least 275 words

 

Discussion Board

Detail the tax formula for calculating federal income tax liability for the individual. Be sure to include examples of the items included in the formula. Discuss deductions for the individual taxpayer and be certain to include the following topics:

  • Deductions for AGI
  • Deductions from AGI
  • Itemized vs. Standard deduction

Explain qualification of dependency as it relates to claiming dependent exemptions from taxable income.  Please be sure to post your initial posts and to reply to at least two of your classmate’s posts. Please use APA

 

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