Brad and Angie Had the Following Income and Deductions During

question 94

Essay

Brad and Angie had the following income and deductions during 2013:
Calculate Brad and Angie's tax liability due or refund,assuming that they have 2 personal exemptions.They file a joint tax return.

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Definitions:

Central Bank

A bank whose chief function is the control of the nation’s money supply.

Marc Levinson

An economist, historian, and author known for his work on globalization, economics, and the history of business and technology.

Laffer Curve

An economic theory proposing that there is an optimal tax rate that maximizes government revenue without discouraging productivity and investment.

Marginal Tax Rates

The rate of tax applied to the last dollar of income, which varies depending on income level and tax bracket.