Terminology and Basic Tax Computations The Johnson's had two children, both of them are married and now have their own families, call them Family A and Family B. They both file their U.S. income taxes as married, filing jointly ntormaton collcted tor a year for each tamil s shown below Neplecting any efec f ste taxes, use a spreadsheet and the latest tax rates from the IRS publication 17, Your Federal Income Tax (www.irs.gov), to determine the following for each family (a) Percentage of TI paid in federal taxes. (b) Percentage of total income (salaries, dividends, and other) paid in federal taxes. Famly Salaries, $1000 Dividends, S1000 Other income Exemptions Deductions, $1000 65 290 58 14 12 25 Exemptions are $4000 per individual (adult or child). Deductions for Family A are standard and temized for B. Terminology and Basic Tax Computations The Johnson's had two children, both of them are married and now have their own families, call them Family A and Family B. They both file their U.S. income taxes as married, filing jointly ntormaton collcted tor a year for each tamil s shown below Neplecting any efec f ste taxes, use a spreadsheet and the latest tax rates from the IRS publication 17, Your Federal Income Tax (www.irs.gov), to determine the following for each family (a) Percentage of TI paid in federal taxes. (b) Percentage of total income (salaries, dividends, and other) paid in federal taxes. Famly Salaries, $1000 Dividends, S1000 Other income Exemptions Deductions, $1000 65 290 58 14 12 25 Exemptions are $4000 per individual (adult or child). Deductions for Family A are standard and temized for B