Bonny and Clyde are married during the tax year 2020. Clyde is a car mechanic at Suped-Up Speedsters, Inc. Clyde earns a salary of $60,000 per year. Suped-Up Speedsters, Inc. has an accountable reimbursement plan. During the year, Clyde has $5,000 of employee expenses. He is reimbursed by Suped-Up for only $4,000 of the expenses. Clyde's grandfather passed away and left him an inheritance of $100,000. Bonny owns a financial consulting firm as a sole proprietor (it qualifies as a full trade or business). Bonnie generates $80,000 of revenues during the year. She has the following business expenses associated with her firm: . . Utilities: $2,000 Office Rent: $15,000 Self-Employment Tax (hers): $5,000 Salary for her secretary: $20,000 Fines/Penalties: $8,000 Medical for employees: $5,000 Medical for Bonny: $5,000 State property tax on business property: $1,500 Payroll taxes on secretary wages: $1,000 Federal excise tax (from business): $2,500 Business Meals: $1,200 Purchase of computer: $1,200 Antique Coffee Carafe (used to serve coffee to clients): $50,000 Payment to meter maid to forgive her parking violation while at a client meeting: $100 . . Bonnie and Clyde also have the following personal expenses during the year: . Medical Expenses: $20,000 State and local taxes: $4,000 Federal income taxes: $6,000 Cash Charitable Contributions: $15,000 IRA Contributions: Bonnie $6,000, Clyde participates in his employer's 401k plan . . The standard deductions for 2020 are listed below: Single $12,400 Head of Household $18,350 Married Filing Joint $24,800 Calculate the appropriate amounts for Bonnie & Clyde : Gross Income Adjusted Gross Income Taxable income