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CENTR STUDIO IN ECONOMIC E FINANCE Center FOR STUDIES IN ECONOMICS AND FINANCE WORKING PAPER NO. 86 The Survey on Health, Aging and Wealth Agar Brugiavini, Julio Appeal and Guglielmo Weber September

How to fill out working paper 86

How to fill out working paper 86:

1. Start by gathering all the necessary information and documents required for working paper 86. This may include personal identification information, employment details, and financial information.
2. Begin by filling out the top section of the working paper, which typically includes the individual's name, address, social security number, and employer information.
3. Proceed to the next section, which often requires providing details about the individual's income sources. This may involve documenting salary, wages, tips, and other forms of earnings.
4. Move on to the deductions and credits section, where you will need to accurately record any eligible deductions or tax credits that the individual may qualify for.
5. Calculate the total taxable income by subtracting the deductions and tax credits from the income sources. Ensure that all figures are entered correctly.
6. After determining the taxable income, proceed to the tax liability section. Here, you will need to calculate the total amount of taxes owed or the refundable amount.
7. Complete any additional sections or schedules that may be required, depending on the specific circumstances of the individual or their tax situation.
8. Review the entire working paper for accuracy and completeness. Double-check all figures and ensure that all sections have been filled out correctly.
9. Sign and date the working paper where required. Any other necessary signatures or authorizations should also be obtained before submitting the document.
10. Finally, make copies of the completed working paper for your records and submit the original to the appropriate authority.

Who needs working paper 86:

1. Working paper 86 is typically required by individuals who are filing their income taxes. It is used to report income, deductions, tax liability, and other relevant information to the tax authorities.
2. Self-employed individuals often need to fill out working paper 86 to report their business income and expenses accurately.
3. Freelancers or contractors may also require working paper 86 to report their income received from different clients or projects.
4. Individuals with multiple sources of income, such as investment earnings or rental income, may need to fill out working paper 86 to report all their income sources accurately.
5. Employed individuals who have complex financial situations, such as those with significant itemized deductions or unique tax circumstances, may benefit from using working paper 86 to ensure accurate reporting of their tax liabilities.

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