Scenario : The Impact of Significant Donations
Wages: Thomas $ Emily $
Longterm Capital Gains: $
Interest and Dividend Income: $
QBI: None
Itemized Deductions: $before charitable donations
Allowable deduction for selfemployment tax: None
Additional Information:
Cash Donation to Qualified Charity: $
Calculate:
AGI, Taxable Income, Potential Child Tax Credits, Total Tax Liability
Explore strategies to maximize the tax benefit of the large donation carryovers etc.
Scenario : Energy Efficiency Credits
Wages: Robert $ Sarah $
Interest and Dividend Income: $
QBI: None
Itemized Deductions: $
Allowable deduction for selfemployment tax: None.
Additional Information:
Installed new energyefficient windows costing $
Installed a solar energy system costing $
Calculate:
AGI, Taxable Income, Potential Child Tax Credits, Total Tax Liability
Analyze their potential eligibility for energyrelated tax credits.
