Dick dewolf and his wife have a total taxable income of, Ask an Expert

Economics

Dick DeWolf and his wife have a total taxable income of $60,000 this year and file a joint federal income tax return. If inflation continues for the next 20 years at a 7% annual rate, Dick wonders what their taxable income must be to provide the same purchasing power after taxes. Assuming the federal income tax rate table is unchanged, what must their taxable income be 20 years from now?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92639218

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