Robson and Mary have 3 dependent children and earn a gross biweekly salary of $5,701. They will also make the following tax-deductible purchases:

• Medical expenses: $6187
• Educational expenses: $6594

When they file their taxes jointly, what will their tax refund be?

Use the following information:

• Standard deduction for married couples: $24,000
• Biweekly allowance: $159.60 per person

For your final answer proceed as:

Annual Income Tax Pay/Refund = Total Annual Withholding - Final Income Tax.

If the couple has to pay the government, type the number with a negative sign. For example -325.

If the couple has to receive a refund from government, type the number without sign. For example 325.

Round your answer to the nearest dollar.

Transcribed Image Text:

Married Individuals Filing Joint Returns and Surviving Spouses If Taxable Income Is Between: The Tax Due Is: 0- $19,050 10% of taxable income $19,051 - $77,400 $1,905 + 12% of the amount over $19,050 $77,401 - $165,000 $8,907 + 22% of the amount over $77,400 $165,001 - $315,000 $28,179 + 24% of the amount over $165,000 $315,001 - $400,000 $64,179 + 32% of the amount over $315,000 $400,001 - $600,000 $91,379 + 35% of the amount over $400,000 $600,001 + $161,379 + 37% of the amount over $600,000 • Biweekly allowance: $159.60 per person Taxable Wages Wages Withholding $0 - $444 $444 - $1,177 $1,177 - $3,421 $3,421 - $6,790 $6,790 - $12,560 $12,560 - $15,829 $0.00 $0.00 plus 10% of amount exceeding $444 $36.70 plus 12% of amount exceeding $1,177 $171.34 plus 22% of amount exceeding $3,421 $541.82 plus 24% of amount exceeding $6,790 $1,234.22 plus 32% of amount exceeding $12,560 $1,757.42 plus 35% of amount exceeding $15,829 $5,795.72 plus 37% of amount exceeding $23,521 $15,829 - $23,521 $23,521 or more Married Individuals Filing Joint Returns and Surviving Spouses If Taxable Income Is Between: The Tax Due Is: 0- $19,050 10% of taxable income $19,051 - $77,400 $1,905 + 12% of the amount over $19,050 $77,401 - $165,000 $8,907 + 22% of the amount over $77,400 $165,001 - $315,000 $28,179 + 24% of the amount over $165,000 $315,001 - $400,000 $64,179 + 32% of the amount over $315,000 $400,001 - $600,000 $91,379 + 35% of the amount over $400,000 $600,001 + $161,379 + 37% of the amount over $600,000 • Biweekly allowance: $159.60 per person Taxable Wages Wages Withholding $0 - $444 $444 - $1,177 $1,177 - $3,421 $3,421 - $6,790 $6,790 - $12,560 $12,560 - $15,829 $0.00 $0.00 plus 10% of amount exceeding $444 $36.70 plus 12% of amount exceeding $1,177 $171.34 plus 22% of amount exceeding $3,421 $541.82 plus 24% of amount exceeding $6,790 $1,234.22 plus 32% of amount exceeding $12,560 $1,757.42 plus 35% of amount exceeding $15,829 $5,795.72 plus 37% of amount exceeding $23,521 $15,829 - $23,521 $23,521 or more

Answer rating: 100% (QA)

Assuming 52 weeks in a year for calculations We calculate the total annual salary biweekly ... View the full answer