Tim and Sarah Lawrence are married and file a joint return. Tims Social Security number is 123-45-6789, and Sarahs Social Security number is 111-11-1111. They reside at 100 Olive Lane, Covington, LA 70434. They have two dependent children, Sean and Debra, ages 12 and 16, respectively. Seans Social Security number is 123-45-6788, and Debras Social Security number is 123-45-6787. Tim is self-employed as the sole proprietor of an unincorporated business, and Sarah is a corporate executive. Tim reports the following income and expenses from his business. Gross income $325,000 Business expenses 201,000 Sarah was covered for the entire year by her employers health insurance policy. Records related to Sarahs employment provide the following information:

Salary $145,000

Unreimbursed travel expenses (including $200 of meals) 1,100

Unreimbursed entertainment expenses 500

Other pertinent 2015 information follows:

Proceeds from sale of stock acquired on July 15, 2013 (cost of $12,000), and sold on August 1, 2013 9,800

Proceeds from sale of stock acquired on September 18, 2012 (cost of $5,000), and sold on October 5, 2013 $ 3,800

Wages paid to full-time domestic worker for housekeeping and child supervision 10,000 Interest income received $7,000 Total itemized deductions (not including any potential deductions above) $27,900 Federal income tax withheld $31,850 Estimated payments of Federal income tax 34,000

Compute the 2015 net tax payable or refund due for Tim and Sarah Lawrence.