In 2015,Tom Is Single and Has AGI of $50,000

question 93

Essay

In 2015,Tom is single and has AGI of $50,000.He is age 70,has no dependents,and has itemized deductions (i.e. ,from AGI) of $7,000.Determine Tom's taxable income for 2015.

---

Definitions:

Human Rights

Fundamental rights that every individual is entitled to regardless of nationality, place of residence, sex, national or ethnic origin, color, religion, language, or any other status.

Core Labor Standards

Fundamental labor rights that include the elimination of forced labor, child labor, discrimination in employment, and the recognition of the right to collective bargaining.

ILO

The International Labour Organization (ILO) is a United Nations agency dedicated to promoting rights at work, encouraging decent employment opportunities, enhancing social protection, and strengthening dialogue on work-related issues.

Collective Bargaining

The act of discussing terms between employers and employees' representatives to reach consensus on wages, work conditions, advantages, and other elements of worker compensation and rights.