Aliza had a tax liability of $6,218 last year. she was entitled to tax credits of $758 and withholding amounted to $540 per month. aliza owed other taxes of $626. calculate the amount of the refund or the amount of additional taxes due (as the case may be).

Respuesta :

Problem: Find the amount of the refund or the amount of additional taxes due (as
                the case may be)

Given facts: 
tax liability of $6,218 last year,     tax credits of $758, withholding
                     amounted to $540,  
other taxes of $626

Mathematical operation: addition and subtraction

Solution:    N = (6,218 + 540 (one month) + 626)-758         
                         add all the tax liabilities and subtract it to the tax credit

                   Answer= $ 6, 626 tax liability / tax liability was higher than the tax refund 
                   *if tax withheld is computed in a year
                     
N = ([6,218+ 626] + [540x12] )-758   
                         =  (6844 + 6480) -758
                         =  13324 -758
                         = Answer $ 12566  
tax liability / tax liability was higher than the tax refund 
                  




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