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You and your spouse have earned salary and wages of $41,750- In addition you have municipal bond interest income of $600 and savings account and certificate of deposit interest income of $800- You paid a total of $600 in interest on your student loan- Using only this information, what is your adjusted gross income for tax purposes?

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The basic methods of tax planning are: reducing your overall income, increasing your number of tax deductions throughout the year, and taking advantage of certain tax credits.
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You and your spouse have earned salary and wages of $41,750- In addition you have municipal bond interest income of $600 and savings account and certificate of deposit interest income of $800- You paid a total of $600 in interest on your student loan- Using only this information, what is your adjusted gross income for tax purposes?






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