John is single, with a solid middle-class job. His taxable income for 2011 was $59,...
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Accounting
John is single, with a solid middle-class job. His taxable income for 2011 was $59, 512.
a. What was his tax assessment for 2011?
b. His employer chose to match Social Security Administration Cost of Living Adjustments (COLA) so he received a 3.6% COLA for 2012. How does this salary increase affect his tax assessment for 2012? Show all steps needed to answer the question.
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