Anabella Cunningham is 24 years old and single, lives in an apartment, and has no dependents. Last year she earned $55,000 as a sales representative for Planning Associates; $3,910 of her wages were withheld for federal income taxes. In addition, she had interest income of $142. She takes the standard deduction. Calculate her:a. taxable incomeb. tax liabilityc. tax refund or tax owed for 2018

See below

Explanation:

1. Calculation of taxable income

Wages + interest earned

= $55,000 + $142

= $55,142

c.

explanation:

regressive tax taxes the poor and less of the wealthy. this the rich get richer and the poor get more poor. this would create a large wealth gap.

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%