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Determine george and mary income tax liability

Question: Determine George and Mary's taxable income for 2011 if George has $65,000 of salary income and Mary has $45,000 of salary income and they file a joint tax return. They have two dependent children and $20,000 of itemized deductions.

Refer to the information above. Determine George and Mary's income tax liability for 2011. How much tax do they save by itemizing their deductions rather than taking the standard deduction?

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Accounting Basics: Determine george and mary income tax liability

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Accounting Basics: Determine george and mary income tax liability

Reference No:- TGS01981552

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