Jorge and Anita, married taxpayers, earn $ 1 5 0 , 0 0 0 in taxable income

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Jorge and Anita, married taxpayers, earn $ $150, 000$ in taxable income and $ $40, 000$ in interest from an investment in City of Heflin bonds. $($ Use the U $.$ S $.$ tax rate schedule for married filing joint $) .$

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If Jorge and Anita earn an additional $ $100, 000$ of taxable income, what is their marginal tax rate on this income?

What is their marginal rate if $,$ instead, they report an additional $ $100, 000$ in deductions?

$($ For all requirements, round your answers to $2$ decimal places. $)$

Related Book For answer-question

Taxation Of Individuals And Business Entities 2015

ISBN: 9780077862367

6th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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Posted Date: Apr 16, 2024 05:44 AM

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Jorge and Anita, married taxpayers, earn $ 1 5 0 , 0 0 0 in taxable income

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To determine Jorge and Anitas marginal tax rate on an additional 100000 of taxable income and an add... View the full answer

Taxation Of Individuals And Business Entities 2015

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