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Using the tax table provided, compute the income tax due for Susie and Josh Adams whose taxable income for the past year is $181,050. Please
Using the tax table provided, compute the income tax due for Susie and Josh Adams whose taxable income for the past year is $181,050. Please show all work.
Income Tax _____________________
Over | Not Over | The Tax is: | Of the Amount Over | |||||
$- | $19,750 | $0 | + | 10% | $- | |||
19,750 | 80,250 | 1,975 | + | 12% | 19,750 | |||
80,250 | 171,050 | 9,235 | + | 22% | 80,250 | |||
171,050 | 326,600 | 29,211 | + | 24% | 171,050 | |||
326,600 | 414,700 | 66,543 | + | 32% | 326,600 | |||
414,700 | 622,050 | 94,735 | + | 35% | 414,700 | |||
622,050 | 167,308 | + | 37.0% | 622,050 |
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