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Caroline and Clint Are Married, Have No Dependents, and File

question 52

Essay

Caroline and Clint are married, have no dependents, and file a joint return in 2019.Use the following information to calculate their Federal income tax liability.
 AMTI $985,000 Regular income tax liability 121,129 AMT preferences 190,000\begin{array} { l r } \text { AMTI } & \$ 985,000 \\\text { Regular income tax liability } & 121,129 \\\text { AMT preferences } & 190,000\end{array}


Definitions:

Business Plan

Written document that provides an orderly statement of a company’s goals, methods, and standards.

Mission Statement

A formal summary of the aims and values of a company, organization, or individual.

Executive Summary

One- to two-page snapshot of what the overall business plan explains in detail.

Business Incubator

Local programs designed to provide low-cost shared business facilities to small start-up ventures.

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