Author name: Insight Incentives Freelance

Virginia is a cash-basis, calendar-year taxpayer. Her salary is $20,000, and she is single. She plans to purchase a residence […]

John and Carole file a joint return and have three children: Jack, age 23; David, age 20; and Kristen, age

Mike and Linda are a married couple who file jointly. They have three dependent children who are full-time students in

Wes and Tina are a married couple and provide financial assistance to several persons during the current year. For the

Georgia, a single taxpayer, operates a business that produces $100,000 of income before any amounts are paid to her. She

The following information relates to two married couples: Lanes Waynes  Salary (earned by one spouse) $32,000 $115,000 Taxable interest income

Jack is starting a business that he expects to produce $60,000 of income this year before compensating Jack for his

Juan helps support his mother Maria, his son Jose, and a niece Norma. How many dependency exemptions can Juan claim

Rick Cabela, a high income client, has contacted you for advice regarding two new proposed business ventures and other tax