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Shalnov [3]
2 years ago
13

an unmarried taxpayer, has wages of $45,000. He has a significant amount of income from dividends and interest and therefore exp

ects to have a federal income tax liability of $18,000. His total federal income tax withholding for the year is $9,500. Randy had $100,000 of adjusted gross income and a federal tax liability of $11,000 on his 2017 return. To avoid a penalty for underpayment of estimated taxes, what is the minimum amount of total estimated tax that Randy must pay in 2018
Business
1 answer:
Olin [163]2 years ago
8 0

Answer: $8500

Explanation:

Since the total amount of estimated tax liability for 2018 is $18000 and the tax withholding is $9500$, then the balance tax payable for 2018 will be:

= $18000 - $9500

= $8500

Therefore, the minimum amount of total estimated tax that Randy must pay in 2018 in order to avoid a penalty for underpayment of estimated taxes will be $8500

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4 0
3 years ago
"Which of the following statements are TRUE? I New issues of Treasury Bills are generally priced at par II New issues of Treasur
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Answer:

The remaining part of the question is:

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