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How much are the benefits for joe and lauren

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Problem 1: Joe and Lauren are married, and they are filing their 2020 federal income taxes jointly. Suppose $75 is deducted from each of Joe's monthly paychecks for health insurance, and $150 is deducted from each of Lauren's monthly paychecks for health insurance. Recall from Part 2 of the project that Joe and Lauren make contributions to their 401(k) plans with each of their monthly paychecks. When finding their annual taxable income, how much are the benefits?

Reference no: EM132959288

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