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Problem: Leonardo, who is married but files separately, earns $69,000 of taxable income. He also has $18,800 in city of Tulsa bonds. His wife, Theresa, earns $53,800 of taxable income. How much money would Leonardo and Theresa save if they file jointly instead of separately for 2022?Leonardo, who is married but files separately, earns $69,000 of taxable income. He also has $18,800 in city of Tulsa bonds. His wife, Theresa, earns $53,800 of taxable income. How much money would Leonardo and Theresa save if they file jointly instead of separately for 2022?
Hunter Corporation has $250,000 in gross income, $125,000 in deductible business expenses, and a $12,000 business tax credit. Determine the corporation's net tax liability.
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