If a household has a husband, wife and two kids, has a standard deduction of $12,600, its itemized deductions are $6,650 and personal exemptions of $16,000 (4*$4,000) , then the first _____ of income is federal income tax free.
A) $13,250
B) $20,650
C) $28,600
D) $34,250
Correct Answer:
Verified
Q2: A tax structure is progressive as long
Q3: If a single person has a standard
Q4: The marginal tax rate is
A)the percentage of
Q5: If a single person has a standard
Q6: The amount a family can take in
Q8: The earned income tax credit goes to
A)non-working
Q9: Exemptions are reductions of adjusted gross income
Q10: Personal income tax withholding is
A)voluntary.
B)involuntary.
C)designed to spread
Q11: In 2015, personal income taxes made up
Q12: If a household has a single woman
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