Ashton (age 67) and Demi (age 67) are a married couple. Demi works for an entertainment company

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Ashton (age 67) and Demi (age 67) are a married couple. Demi works for an entertainment company with a salary of $174,000. Ashton works for a law firm and makes $70,000 per year.

The couple do not have specific itemized deductions for the year, and do not have any dependents.

What is the couple's taxable income for the year?
What is the couple's marginal tax rate for the year?

Related Book For answer-question

Personal Financial Planning

ISBN: 9780357438480

15th Edition

Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk

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Posted Date: Feb 13, 2023 12:02 AM

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Ashton (age 67) and Demi (age 67) are a married couple. Demi works for an entertainment company

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Personal Financial Planning

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