Keith and Nicole Are Married Filing Joint with Two Daughters

question 109

Essay

Keith and Nicole are married filing joint with two daughters who qualify as dependents.Their gross income for 2013 is $21,000.Are they required to file a tax return? How do you know this without memorizing the gross income thresholds? In 2013,the standard deduction for taxpayers filing a joint return is $12,200 and the personal exemption is $3,900.

Understand the neurobiological underpinnings of language development in young children.

Recognize the long-term impact of aversive childhood experiences on mental health.

Describe the process of brain growth and its components up to adolescence.

Identify the stages of motor development in infants and toddlers.

---

Definitions:

Tax Rate

The per-unit amount of the tax or the percentage rate at which the economic activity is taxed.

Tax Burden

The aggregate sum of taxes that individuals or businesses remit, correlated to their earnings or profits.

Inelastic

Describes a situation where the demand or supply for a good or service is not significantly altered when the price changes.

Elastic

A characteristic of a product or service indicating that a change in price leads to a significant change in the quantity demanded or supplied.