Question
Jorge and Anita, married taxpayers, earn $143,500 in taxable income and $52,000 in interest from an investment in City of Heflin bonds, (Use the U.S.
Jorge and Anita, married taxpayers, earn $143,500 in taxable income and $52,000 in interest from an investment in City of Heflin bonds, (Use the U.S. tax rate schedule of married fling jointly).
A. If Jorge and Anita earn an additional $106,000 of taxable income, what is their marginal tax rate on this income?
B. What is their marginal rate if, instead, they report an additional $106,000 in deductions?
- Marginal tax rate%
- Marginal tax rate %
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Using QuickBooks Online For Accounting 2021
Authors: Glenn Owen
4th Edition
0357442164, 9780357442166
