Question

Jamison's gross tax liability is $7,255. Jamison had $2,450 of available credits and he had $4,050 of taxes withheld by his employer. What are Jamison's taxes due (or taxes refunded) with his tax return?

Answer 1

Answer:

$755 taxes due  

Explanation:

Data provided in the question

Gross tax liability = $7,255

Credits available = $2,450

Taxes withheld by his employer = $4,050

So by considering the above information, the Jamison taxes due with his tax return is

= Gross tax liability - credits available - taxes withheld by his employer

= $7,255 - $2,450 - $4,050

= $755 taxes due