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Judy and Greg are married and file a joint return. They expect to have $150,000 of taxable income in the next year and are considering
Judy and Greg are married and file a joint return. They expect to have $150,000 of taxable income in the next year and are considering whether to purchase a personal residence that would provide adsitional tax deductions of $A5,000 for mortgage intorest and real ostate taxes (Click the icon to view the 2017 tax rate schedule for the Married filing jointly fing status.) Requirement a.What is their marginal tax rate for purposes of making this decision? The marginal tax rate is% "the personal residone is not purchased and is is purchased Requirement b. What is the tax savings if the residence is acquired? (Do not round intermediary calcuiaions. Only round the amounts you input in the cells to the nearest cent) Tax without purchase of personal resdence Tax with purchase of personal residence Tax savings %ifthe personal residence
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