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Analyze the data and suggest tax planning ideas

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Reference no: EM132695815

Problem - Effective tax planning - Denise Hughes reports the following data from her 2018 tax return. Analyze the data and suggest tax planning ideas that she should consider.

Salary $150,000

Interest income 30,000

Qualified dividends 1,000

Total Adjusted Gross Income $181,000

Note: The interest income is from a bank savings account earning 1%. The dividends are from a stock paying 3 percent dividends.

Reference no: EM132695815

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