Question

4. Matilda and Rene are also trying to forecast what their federal and state income taxes will

be for the end of the year. If Matilda and Rene had a negative cash flow of -$150.00 per
month from January through April, but a positive cash flow of $1,000.00 per month (after
expenses) from May through December, on what dollar amount will they determine their
income taxes? What expenses could be used for tax deductions? (15 points)

Answer 1

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