Solve the problem. Refer to the table if necessary. $2013 \text { Marginal Tax Rates, Standard Deductlons, and Exemptlons** }$

- Each higher marginal rate begins where the prior one leaves off. For example, for a single person, the $ 15 \% $ marginal rate affects income starting at $ \$ 8925 $, which is where the $ 10 \% $ rate leaves off, and continuing up to $ \$ 36,250 $.
" This table ignores the effects of (i) exemption and deduction phase-outs that apply to high-income taxpayers and (ii) the alternative minimum tax (AMT) that affects many middle-and high-income taxpayers.

-Tom and Toni are married and file jointly. Their combined wages were $78,148. They earned a net of $1593 from a rental property they own, and they received $1665 in interest. They claimed four
Exemptions for themselves and two children. They contributed $3364 to their tax-deferred
Retirement plans, and their itemized deductions total $10,516. Find their taxable income.

Question

Solve the problem. Refer to the table if necessary. $2013 \text { Marginal Tax Rates, Standard Deductlons, and Exemptlons** }$

- Each higher marginal rate begins where the prior one leaves off. For example, for a single person, the $ 15 \% $ marginal rate affects income starting at $ \$ 8925 $, which is where the $ 10 \% $ rate leaves off, and continuing up to $ \$ 36,250 $.
" This table ignores the effects of (i) exemption and deduction phase-outs that apply to high-income taxpayers and (ii) the alternative minimum tax (AMT) that affects many middle-and high-income taxpayers.

-Tom and Toni are married and file jointly. Their combined wages were $78,148. They earned a net of $1593 from a rental property they own, and they received $1665 in interest. They claimed four
Exemptions for themselves and two children. They contributed $3364 to their tax-deferred
Retirement plans, and their itemized deductions total $10,516. Find their taxable income.

Quizplus · Accepted Answer

The Answer of Solve the problem. Refer to the table if necessary. $2013 \text { Marginal Tax Rates, Standard Deductlons, and Exemptlons** }$

- Each higher marginal rate begins where the prior one leaves off. For example, for a single person, the $ 15 \% $ marginal rate affects income starting at $ \$ 8925 $, which is where the $ 10 \% $ rate leaves off, and continuing up to $ \$ 36,250 $.
" This table ignores the effects of (i) exemption and deduction phase-outs that apply to high-income taxpayers and (ii) the alternative minimum tax (AMT) that affects many middle-and high-income taxpayers.

-Tom and Toni are married and file jointly. Their combined wages were $78,148. They earned a net of $1593 from a rental property they own, and they received $1665 in interest. They claimed four
Exemptions for themselves and two children. They contributed $3364 to their tax-deferred
Retirement plans, and their itemized deductions total $10,516. Find their taxable income.

Solve the Problem 2013 Marginal Tax Rates, Standard Deductlons, and Exemptlons** 2013 \text { Marginal Tax Rates, Standard Deductlons, and Exemptlons** }2013 Marginal Tax Rates, Standard Deductlons, and Exemptlons**

Solve the Problem $2013 \text { Marginal Tax Rates, Standard Deductlons, and Exemptlons** }$