Question
Robson and Mary have 4 dependent children and earn a gross biweekly salary of $5,275. They will also make the following tax-deductible purchases: Medical
Robson and Mary have 4 dependent children and earn a gross biweekly salary of $5,275. They will also make the following tax-deductible purchases: Medical expenses: $6,058 Educational expenses: $6,659 When they file their taxes jointly, what will their tax refund be? Use the following information: Standard deduction for married couples: $25,100 2021 Married Individuals Filing Joint Returns and Surviving Spouses If Taxable Income is Between: $0-$19,900 $19,901-$81,050 $81,051 $172,750 $172,751-$329,850 $329,851 $418,850 $418,851-$628,300 $628,301 or more The Tax Due is: 10% of taxable income $1,990 plus 12% of the amount over $19,900 $9,328 plus 22% of the amount over $81,050 $29,502 plus 24% of the amount over $172,750 $67,206 plus 32% of the amount over $329,850 $95,686 plus 35% of the amount over $418,850 $168,993.50 plus 37% of the amount over $628,300 Biweekly allowance: $165.38 per person 2021 Married Person Biweekly Withholding Table Taxable Wages $0-$483 $483-$865 $865-$2,041 $0.00 Wages Withholding $0.00 plus 10% of amount exceeding $483 $38.20 plus 12% of amount exceeding $865
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