Question
Havel and Petra are married and will file a joint tax return. Havel has W-2 income of $40,000, and Petra has W-2 income of $41,665.
Havel and Petra are married and will file a joint tax return. Havel has W-2 income of $40,000, and Petra has W-2 income of $41,665.
Use the appropriateTax TablesandTax Rate Schedules.
Required:
- What is their tax liability using the Tax Tables?
- What is their tax liability using the Tax Rate Schedule?(Round your intermediate computations and final answer to 2 decimal places.)
Also, how do I calculate the taxable income for the above?
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
