2007-11-21 07:01:23 · 6 answers · asked by Tireless 2 in Business & Finance ➔ Taxes ➔ United States
I assuming that the two deductions are exemptions and you will be using the "Married Filing Jointly" filing status. Your question does not give enough details. So here goes.
Gross Wages: $73,000 - Two Personal Exemptions of $3,400 each (6,800) - Standard Deduction of $10,700 (Married Filing Jointly) = $55,500 (Taxable Income)
Your federal taxes will be: $7,546. You may have state taxes as well.
2007-11-24 04:15:57 · answer #1 · answered by Gary 5 · 0⤊ 0⤋
You say 2 "deductions" - do you mean exemptions? If it's you and a spouse, the $73K is your total income between you, and you file a joint return and take the standard deduction and don't have any adjustments, your federal income tax would be around $7574.
2007-11-21 15:15:54 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
What are these 2 deductions? Is it the standard deduction and personal exemption? Those are 2 deductions.
2007-11-21 17:56:49 · answer #3 · answered by Steve 6 · 0⤊ 0⤋
about 20%
2007-11-21 15:08:14 · answer #4 · answered by Columbia 3 · 0⤊ 1⤋
with your earnings, you can afford the services of an Accountant.
2007-11-21 15:33:19 · answer #5 · answered by Jomtien C 4 · 0⤊ 1⤋
a lot
2007-11-21 15:08:50 · answer #6 · answered by Anonymous · 0⤊ 1⤋