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Use the following to answer questions
Figure: U.S.Marginal and Average Tax Rates Use the following to answer questions  Figure: U.S.Marginal and Average Tax Rates   -(Figure: U.S.Marginal and Average Tax Rates) Using the tax rates shown in the figure,assume your annual income is $15,000,that you have a deduction of $1,800 for moving expenses,and that you claim four exemptions of $3,300: one for yourself and one for each of your three children.How much taxes are you expected to pay? A)  $0 B)  $120 C)  $132 D)  $138
-(Figure: U.S.Marginal and Average Tax Rates) Using the tax rates shown in the figure,assume your annual income is $15,000,that you have a deduction of $1,800 for moving expenses,and that you claim four exemptions of $3,300: one for yourself and one for each of your three children.How much taxes are you expected to pay?


Definitions:

Trustee

An individual or entity given control or powers of administration of property in trust with a legal obligation to manage that property solely for the benefit of the party who has designated the trust.

Estate Planning

The process of arranging the management and disposal of a person's estate during their life and after death.

Inheritance Management

The process of handling and distributing the assets of a deceased person's estate according to legal guidelines or their will.

Commune

A community living situation where resources are shared and decisions are made collectively.

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