Question
Jordan and Paul, a married couple, have taxable income of $87,175, which is taxed as follows: $19,400 10% =$1,940.00 ($78,950 $19,400) 12%
Jordan and Paul, a married couple, have taxable income of $87,175, which is taxed as follows:
$19,400 × 10% =$1,940.00
($78,950 − $19,400) × 12% = 7,146.00
($87,175 − $78,950) × 22% = 1,809.50
Total tax liability$10,895.50
Their marginal tax rate is:
12%.
12.5%.
22%.
10%
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Taxation Of Individuals 2017
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
8th Edition
978-1259729027, 1259729028, 978-1259548666
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