Benton is itemizing deductions on his federal income tax return and had $5600 in medical expenses last year. I?

$55,000 times .075 equals $4125. $5600 minus $4125 equals $1475 as the deductible amount. That is only elliglble to deduct if he has other deductible items to get him over the "standard deduction" such as, mortgage interest, taxes, employee expenses, etc.

If you can't add, subtract, multiply and divide why did your high school award you a diploma? Why did your state allow you to pass the standardized exams? Accounting usually only requires low levels of math and higher problem solving skills.

Your excuses are ignorant and do not have common sense involved.

What is so hard about 55,000 x 7.5% - 5,600 ? so they passed the threshold by $1,475.

The minimum is 55,000 x 7.5% or 4,125, so anything beyond that beats the threshold tests.

I think you don't understand what it is your flaws truly are.

TRO - really ? Textbooks generally do not use the current tables, they also tend to mix up and confuse you on purpose by using various tax years and dates in problems. She never said which tax year the teacher gave her. It is not a true taxpayer question. It is an academic homework question.

If your math is that bad, I'd suggest that you drop the taxation course and pursue a different career. This is 5th grade stuff and if you can't handle it, you are not cut out for taxation.

You need to figure out how much 7.5% of $55,000 is. Convert the percentage to a decimal and multiply. You convert by moving the decimal place 2 places to the left. So 8.5% would become 0.085. Now do that with 7.5% and multiply. Subtract that from the $5,600 of medical expenses and whatever is left is what he can deduct.

We have made some changes this year with the goal of increasing your convenience and reducing our costs. Most notably you will fi nd in this publication that we consolidated the instructions for fi ling income tax, TeleFile and school district income tax into one packet. Combining booklets allows us to reduce paper consumption by about one-third and we hope this makes it easier to fi nd the information you need.

Also highlighted in this publication are the tax tables accompanying these instructions. Those tables have been adjusted to refl ect a 4% reduction in Ohio’s income tax rates, the fi nal phase of a multi-year commitment made in 2005 to cut your income tax rates a total of 21%.

As you prepare your tax return, please consider fi ling electronically. Nearly 79% of Ohio taxpayers last fi ling season chose the benefi ts of going paperless. Choosing to fi le online means you get your refund faster, errors are reduced and processing costs are cut signifi cantly. If you’ve not yet made the switch to electronic fi ling, I hope you will this

year.

first of all if he is single his standard deduction for 2012 was $5950, that eliminates the medical expense without even considering the 7.5%