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What the amount of income taxes

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Question - Tim and Autumn Davis are trying to figure out their current financial health. They will pay off their car loan in three years, their gross household income is $5,700 per month, and they receive $95 per month in interest income from their investments. They have listed the following items from their most recent balance sheet and income statement: Savings account: $3,200, Checking account: $1,800, Credit card balance: $3,000, Car loan balance: $18,000, Car market value: $15,000, Furniture market value: $4,000, Stocks and bonds: $15,000. What the amount of income taxes that they actually pay is based upon their?

Reference no: EM132937952

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