Question
Leonardo, who is married but files separately, earns $60,000 of taxable income. He also has $6,500 in city of Tulsa bonds. His wife, Theresa, earns
Leonardo, who is married but files separately, earns $60,000 of taxable income. He also has $6,500 in city of Tulsa bonds. His wife, Theresa, earns $33,000 of taxable income. If Leonardo earned an additional $37,000 of taxable income this year, what would be the marginal tax rate on the extra income for 2019?
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Financial Accounting Tools for business decision making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
