A married couple decides to file taxes jointly. They have a combined income of $175,000 as a kindergarten teacher and a marketing associate. They have two children under the age of 17. They also have rental property which provides net income of $5,000 a year. They have a high deductible health plan, so contribute $7,000 a year to their health savings account. 1. Locate the most current tax bracket table and determine which tax bracket this family will be in. 2. Visit the website at http://www.360financialliteracy. org.

2. In the Topics drop-down menu, select Taxes.

3. Under Taxes, select Filing Your Taxes and on the next page, select 1040 Tax Calculator under Calculators.

4. Using the information from this scenario, fill out the form to determine what the taxes will be for this family.

5. Save or Screenshot and Turn in the report and this sheet to your instructor.

Depreciation on the company's equipment for 2017 is computed to be $18,000.the prepaid insurance account had a $6,000 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of the company's insurance policies showed that $1,100 of unexpired insurance coverage remains.the office supplies account had a $700 debit balance on december 31, 2016; and $3,480 of office supplies were purchased during the year. the december 31, 2017, physical count showed $300 of supplies available.two-thirds of the work related to $15,000 of cash received in advance was performed this period.the prepaid insurance account had a $6,800 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of insurance policies showed that $5,800 of coverage had expired.wage expenses of $3,200 have been incurred but are not paid as of december 31, 2017.