Samuel,head of Household with Two Dependents,has 2016 Wages of $26,000,paid

question 56

Essay

Samuel,head of household with two dependents,has 2016 wages of $26,000,paid alimony of $3,000,has taxable interest income of $2,000,and a $12,000 0%/15%/20% net long-term capital gain.Samuel uses the standard deduction and is age 38.What is his 2016 taxable income and the tax on the taxable income?

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Definitions:

Power Distance

A cultural dimension that describes the extent to which individuals in a society accept that power is distributed unequally.

High-Power-Distance Cultures

Cultures in which there is a great deal of acceptance and expectation of unequal power distribution among people, institutions, and organizations.

Rank

The position or level of importance within a hierarchy or organization.

Market-Entry Strategies

The planned methods of delivering goods or services to a new target market and establishing a presence in that market.