Question
Matthew and Lisa are married taxpayers that file married filing separately . Lisa earns $250,000 of taxable income per year. Matthew earns $130,000 of taxable
Matthew and Lisa are married taxpayers that file married filing separately. Lisa earns $250,000 of taxable income per year. Matthew earns $130,000 of taxable income per year. Using the appropriate U.S. tax rate schedule for year 2018, how much tax does each of them pay? What are their marginal and average tax rates? How much tax would they save, if any, if they filed jointly? (Round the tax rates to 2 decimal places, e.g., .12345 as 12.35%) (Use tax rate schedule)
Matthew married filing separate
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| Average Tax Rate |
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| Marginal Rate |
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Lisa married filing separate
| Federal Income Tax Due |
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| Average Tax Rate |
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| Marginal Rate |
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Matthew & Lisa married filing joint
| Federal Income Tax Due |
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| Average Tax Rate |
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| Marginal Rate |
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| Tax savings or |
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USE 2018 TAX RATE SCEDULE!!!!!!!!!!!!!!!!!!!!!!!!
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Management Control Systems
Authors: Kenneth Merchant, Wim Van Der Stede
5th Edition
1292444134, 9781292444130
