Question
Scot and Vidia, married taxpayers, earn $241,600 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. (Use the U.S.
Scot and Vidia, married taxpayers, earn $241,600 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. (Use the U.S. tax rate schedule for married filing jointly).
Required:
- If Scot and Vidia earn an additional $81,600 of taxable income, what is their marginal tax rate on this income?
- What is their marginal tax rate if, instead, they report an additional $81,600 in deductions?
(For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.)
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Taxation Of Individuals And Business Entities 2015
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
6th Edition
978-1259206955, 1259206955, 77862368, 978-0077862367
