How much will the final tax liability be

Reference no: EM132004146

Question: Mr. and Mrs. Smith have three children ages 3, 6, and 12 for which they paid $6,000 in child care expenses this year. Assume the McMurray's tax liability is initially calculated to be $8,000. Then apply a 20% tax credit for child care expenses within limits normally allowed. How much will their final tax liability be?

Reference no: EM132004146

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