Question

question 1what is the taxable income of a married couple with no children who gave a combined income of $65,000?please reference the charts are formula below.

Answer 1

Since they are a married couple, their filing status will be Married filing jointly and thus they will have a deduction of $12,200.

And since they don't have a child, their exemption class will be Married with an exemption deduction of $7,800.

From a deduction of $12,200 as a married couple, we will subtract the exemption which is $7,800. Therefore, the total deductions will only be $4,400.

Taxable Income will be $65,000 - $4,400 = $60,600.