Jennifer and Paul, who file a joint return, have taxable income of $94,475 and the following tax
Question:
Jennifer and Paul, who file a joint return, have taxable income of $94,475 and the following tax liability:
Their average tax rate is:
a. 10%.
b. 12%.
c. 13%.
d. 22%.
Transcribed Image Text:
$19,990 × 10% = ($81,050-$19,990) × 12% = ($94,475 $81,050) × 22% = Total tax liability $ 1.990.00 7,338.00 2.953.50 $12.281.50
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Related Book For
Fundamentals Of Taxation 2022
ISBN: 9781264209408
15th
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander
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