Ben had $88,000 of income from wages and $4,350 of taxable interest. Ben also made contributions of $2,400 to a tax-deferred retirement account. Ben has 1 dependent and files as married filing separately.What is Ben's total income? What is Ben's adjusted gross income? For Ben's filing status, the standard deduction is $12,000. What is Ben's taxable income? Use the 2018 tax table to find the income tax for Ben filing as married filing separately. Round to the nearest dollar. https://www.caraleemath.com/uploads/2/8/4/0/28409927/mth_105_4_e_tax_tables__2018.pdf
Ben had $88,000 of income from wages and $4,350 of taxable interest. Ben also made contributions of $2,400 to a tax-deferred retirement account. Ben has 1 dependent and files as married filing separately.
What is Ben's total income?
What is Ben's adjusted gross income?
For Ben's filing status, the standard deduction is $12,000. What is Ben's taxable income?
Use the 2018 tax table to find the income tax for Ben filing as married filing separately. Round to the nearest dollar.
https://www.caraleemath.com/uploads/2/8/4/0/28409927/mth_105_4_e_tax_tables__2018.pdf
Taxable income seems to be the part of an individual's personal or a firm's income which is used to determine how much tax they must pay the authorities inside a given tax year. It is widely defined as adjusted gross income (AGI) less allowed itemized or basic deductions.
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