Byron, 54, is a single, self-employed, carpenter. During 2014, he earns gross revenues of $60,000 and incurs $6,000 of business expenses. His itemized deductions for the year are $8,000. Determine Byron's taxable income and his total tax liability.

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The Answer of Byron, 54, is a single, self-employed, carpenter. During 2014, he earns gross revenues of $60,000 and incurs $6,000 of business expenses. His itemized deductions for the year are $8,000. Determine Byron's taxable income and his total tax liability.

Byron, 54, Is a Single, Self-Employed, Carpenter