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Jorge and Anita, married taxpayers, earn $150 , 500 in taxable income and $40 , 500 in interest from an investment in City of Heflin
Jorge and Anita, married taxpayers, earn $150 , 500 in taxable income and $40 , 500 in interest from an investment in City of Heflin bonds. (Use the U.S. Lax rate schedule for married filing jointly). Required: 0. If Jorge and Anita earn an additional $100 , 500 of taxable income, whiat is their marginal tax rate on this income? b. What is their marginal rate if, instead, they report an additional $100 , 500 in deductions? Note: For all requirements, do not round intermediate calculations. Round your onswers to 2 decimal places. 2022 Tax Rate Schedules Individuals Calondwho V C:..ala Schedule Z-Head of Household \begin{tabular}{|c|c|c|} \hline If taxable income is over: & But not over: & The tax is: \\ \hline $0 & $14 , 650 & 10% of taxable income \\ \hline $14 , 650 & $55 , 900 & $1 , 465 plus 12% of the excess over $14 , 650 \\ \hline $55 , 900 & $89 , 050 & $6 , 415 plus 22% of the excess over $55 , 900 \\ \hline $89 , 050 & $170 , 050 & $13 , 708 plus 24% of the excess over $89 , 050 \\ \hline $170 , 050 & $215 , 950 & $33 , 148 plus 32% of the excess over $170 , 050 \\ \hline $215 , 950 & $539 , 900 & $47 , 836 plus 35% of the excess over $215 , 950 \\ \hline $539 , 900 & ? & $161 , 218.50 plus 37% of the excess over $539 , 900 \\ \hline \end{tabular} Schedule Y-2-Married Filing Separately \begin{tabular}{|c||l|l|} \hline If taxable income is over: & But not over: & \multicolumn{1}{|c|}{ The tax is: } \\ \hline $10 & $10 , 275 & 10% of taxable income \\ \hline $41 , 775 & $41 , 775 & $1 , 027.50 plus 12% of the excess over $10 , 275 \\ \hline $9 , 075 & $9 , 075 & $4 , 807.50 plus 22% of the excess over $41 , 775 \\ \hline $170 , 050 & $217 , 050 & $15 , 213.50 plus 24% of the excess over $89 , 075 \\ \hline $215 , 950 & $323 , 925 & $44 , 647.50 plus 32% of the excess over $170 , 050 \\ \hline $323 , 925 & ? & $87 , 126.75 plus 35% of the excess over $215 , 950 \\ \hline \end{tabular}
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