Bill and Mercedes have 160,000 of taxable income and an additional 10,000 of non-taxable income. Using the

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Bill and Mercedes have 160,000 of taxable income and an additional 10,000 of non-taxable income.

Using the 2020 married filing joint tax rates, what is their tax due, the average tax rate, and the effective tax rate?

If they receive an additional 80,000 of taxable income, what is their marginal tax rate on this income?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Apr 11, 2023 03:55 AM

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Bill and Mercedes have 160,000 of taxable income and an additional 10,000 of non-taxable income. Using the

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Based on the 2020 married filing joint tax rates Bill and Mercedes taxable income falls ... View the full answer

Income Tax Fundamentals 2013

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