Sandra williams is single. she itemized deductions in 2014. she plans to itemize for 2015. in order for her plan to itemize dedu

Question

mr Goodwill [35]

2 years ago

10

Sandra williams is single. she itemized deductions in 2014. she plans to itemize for 2015. in order for her plan to itemize dedu

ctions to be the most beneficial to her. her itemized deductions should exceed:

Business

1 answer:

Bess [88] · Answer 1 · 2022-08-03T01:43:35+03:00

The answer is $6200.00

Based on https://taxfoundation.org/2014-tax-brackets/

The standard deduction single based on the source is $6200. Tax exemptions for singles are up to $52,800. The threshold on this tax is an annual salary of $254,200. Higher salaries would have higher tax deductions. Once a single tax holder enters $376,700 the person would no longer be included for higher exemption because of the gross compensation increase.