​Rates for a single taxpayer are 10% of taxable income up to $8,375 and 15% thereafter up to $34,000. Brian Jackson, a single taxpayer, earned $34,000. He took the standard deduction of $5,700 for a single taxpayer and one exemption of $3,650. Compute the amount of income tax.

Taxable Income

The amount of income on which the income tax is determined.

Standard Deduction

A set amount that reduces the income subject to tax, which taxpayers can claim on their tax return, as an alternative to itemizing deductions.

Exemption

A deduction allowed by law to reduce the amount of income that would otherwise be taxed.