Mia (Hamm) and Nomar (Garciaparra) are married, and live in Chicago. Mia work pays her $180,000 per year, while Nomar earns $140,000 per year from his job, for a total of $320,000 in wages. After taking into account earnings from dividends and interest, their Adjusted Gross Income (AGI) for the year is $343,000. They file their taxes using the Married Filing Joint (MFJ) filing status.

Standard Deduction - MFJ:$27,700

Mia & Nomars Itemized Deductions:$21,200

FICA tax rate (employee):7.65% (6.2% OASDI, 1.45% Medicare)

FICA tax rate (employer):7.65% (6.2% OASDI, 1.45% Medicare)

Social Security Wage Cap (aka FICA cap):$160,200

IL State Income Tax rate:4.95%

Federal Income Tax rate schedule (MFJ)

Tax rate	Taxable income bracket	Tax owed
10%	$0 to $19,900	10% of taxable income
12%	$19,901 to $81,050	$1,990 plus 12% of the amount over $19,900
22%	$81,051 to $172,750	$9,328 plus 22% of the amount over $81,050
24%	$172,751 to $329,850	$29,502 plus 24% of the amount over $172,750
32%	$329,851 to $418,850	$67,206 plus 32% of the amount over $329,850
35%	$418,851 to $628,300	$95,686 plus 35% of the amount over $418,850
37%	$628,301 or more	$168,993.50 plus 37% of the amount over

1. What is Mia and Nomars Taxable Income for the year?

2. What is Nomars total FICA tax for the year?

3. What is Mias total FICA tax for the year?

4. What is Mia & Nomars Federal Income Tax liability for the year?

5. What is Mia & Nomars State Income Tax liability for the year?

6. If Mia & Nomar had Federal Income Tax withholdings from their pay of $62,000 during the year, will they receive a refund, or do they owe more Federal Income Tax? How much?

7. If Mia & Nomar had Federal Income Tax withholdings from their pay of $28,000, but also are eligible for Non-refundable Tax Credits of $3200, will they receive a refund, or do they owe more Federal Income Tax? How much?

8. If Mia & Nomars Itemized Deductions are $31,250, what does this do to their Taxable Income? To their total Tax Liability?