Henry and Janice are married and file jointly. They have an AGI (and modified AGI) of $290,000, which includes $90,000 of salary, $170,000 of active business income, $10,000 of interest income, $15,000 of qualified dividends, and $5,000 of long-term capital gains. They have taxable income of $250,000. What is Henry and Janice's income tax liability this year, rounded to the nearest whole dollar amount?

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Calculation Of Income Tax Liability of Henry and Janice Here they are fi... View the full answer