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Generalizing from information presented in the text, which of the following persons would adjust best to retirement?
Standard Deduction
A preset reduction in taxable income on a federal income tax return, not requiring itemization of individual deductions.
Taxable Income
The sum of money that determines the tax liability of a person or business to the government, following the subtraction of deductions and exemptions.
Average Tax Rate
The fraction of total income that is paid as taxes, calculated by dividing the total tax paid by the total income.
Taxable Income
Income subject to tax, after deductions and exemptions, according to the laws of the tax system.
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