Scenario 1 Donald Canard is an Actor He supports his three n

Scenario 1: Donald Canard is an Actor. He supports his three nephews, who all live with him.
His sole income from acting is 43,073
What is his taxable income?  
What is his tax before credits?

Year: 2017

Solution

Gross Income from acting $        43,073 Less: Standard Deduction for 2017              6,350 *for single Personal and dependency exemption (4 x 4050)            16,200 1 for self and 3 for nephews Taxable Income            20,523 Calculation of tax - for single 9325 x 10% + (20523 - 9325) x 15% $    2,612.20 Tax before credit Ans 1 20523 Ans 2 2612.2