Kennedy has a gross income of $95,000. What is her total tax due?

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Mathematics

Precious

22 June, 15:57

Kennedy has a gross income of $95,000. What is her total tax due?

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Brady Jordan · Answer 1

Answer:This made her total gross income $140,000 ($3,000 + $500 + $41,500 + $90,000 + $5,000) and her farm gross income $95,000 ($90,000 + $5,000). She qualifies to use the special estimated tax rules for qualified farmers, since 67.9% (at least two-thirds) of her gross income is from farming ($95,000 : $140,000 =.679).