Problem 1-44 (LO 1-2, 1-4) Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables to compute tax liability. Required: a. Married taxpayers, who file a joint return, have taxable income of $98,013. b. Married taxpayers, who file a joint return, have taxable income of $67,379. Note: For all requirements, round "Average tax rate" to 2 decimal places. a. b. Tax liability Marginal tax rate Average tax rate % %
Problem 1-44 (LO 1-2, 1-4) Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables to compute tax liability. Required: a. Married taxpayers, who file a joint return, have taxable income of $98,013. b. Married taxpayers, who file a joint return, have taxable income of $67,379. Note: For all requirements, round "Average tax rate" to 2 decimal places. a. b. Tax liability Marginal tax rate Average tax rate % %
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter9: Individuals As Taxpayers
Section: Chapter Questions
Problem 4CE
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