Pat is a carpenter who runs his construction business through an S Corporation. He files a joint tax return with his wife Andrea. They have twin boys who are $3$ years old. Pat provides you with the following information:

W$-2$ Form reflecting wages paid to him of $$75,000$ with federal tax withholding of $$20,000$

Form $1099-$DIV reflecting dividends of $$100,000$ all of which are Qualified Dividends.

Form $1099-$INT reflecting interest income of $$10,000$

Form $1099-$B from his brokerage account reflecting:Long$-$term capital gains of $$20,000$Short$-$term capital gains of $$5,000$

Pat provides the following information for itemized deductions

Medical expenses $$1000$

Taxes paid Real Estate Tax $$4,000$State Income tax withheld on form w$-2$ $$4,000$

Balance due on last years state tax return $$6,000$

Charitable contributions $$5,000$Additionally, Pat made four federal estimated tax payments of $$6,000$ each totaling $$24,000.$

Using an excel spreadsheet calculate Pat & Andreas taxable income and the amount of tax due for the $2023$ tax year. Use the $2023$ Tax Rate Schedule. Reminder the Standard Deduction for taxpayers who are filing jointly is $$27,700$ for $2023$ tax returns.