Question
Anthony and Susan are married filing jointly. Their combined income is currently $168,500. Both have received raises totaling $18,500: a) If the cut-off between the
Anthony and Susan are married filing jointly. Their combined income is currently $168,500. Both have received raises totaling $18,500:
a) If the cut-off between the 22% and 24% tax bracket is $172,750, how much more will they pay in taxes?
b) What is the net total of the raise (after taxes)?
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Solution Increment of 18500 will purh taxable income to the level old income Increment 168...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
