Use Exhibit to estimate the average Social Security benefits for a retired couple. Assume that one spouse

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Use Exhibit to estimate the average Social Security benefits for a retired couple. Assume that one spouse has a part-time job that pays $24,000 a year, and that this person also receives another $47,000 a year from a company pension. Based on current policies, would this couple be liable for any tax on their Social Security income?

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Personal Financial Planning

ISBN: 978-1111971632

13th edition

Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley

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