Alan and Sara Winthrop are a married couple who file a joint income tax return. They have two children, and they have legitimate itemized deductions totaling $27,750. Their total income from wages is $210,500. Assume the following tax table is applicable: Married Couples Filing Joint Returns You Pay This Amount If Your Taxable on the Base of the Plus This Percentage on Average Tax Rate at Top Income Is Bracket the Excess over the Base of Bracket Up to $19,750 $0.00 10.0% 10.0% $19,750-$80,250 $80,250-$171,050 1,975.00 12.0 11.5 9,235.00 22.0 17.1 $171,050-$326,600 29,211.00 24.0 20.4 $326,600-$414,700 66,543.00 32.0 22.8 $414,700-$622,050 94,735.00 35.0 26.9 Over $622,050 What is their marginal tax rate? 167,307.50 37.0 37.0 O a. 12.0% О Б.35.0% O c. 22.0% O d. 24.0% O e. 32.0%

Q: Jordan and Paul, a married couple, have taxable income of $89,525, which is taxed as follows:…

A: Marginal Tax Rate :— It is the highest tax rate that is possible in the given taxable income. It is…

Q: Alan and Sara Winthrop are a married couple who file a joint income tax return. They have two…

A: The question is related to marginal tax rate. The marginal tax rate is the tax rate you pay on an…

Q: Ross is single with an adjusted gross income of $67,100, and he uses the standard deduction for…

A: It is the amount of tax payable to the government by the taxpayer on their taxable income. This tax…

Q: Alan and Sara Winthrop are a married couple who file a joint income tax return. They have two…

A: The personal exemption for the tax year 2020 is $0 So, the taxable income for 2020 = $181,200 -…

Q: Erwin and Eleanor are married and file a joint tax return. They have adjusted gross income of…

A: Compute the Social security benefits taxable amount.   Lesser of the following amount is the taxable…

Q: If husband and wife are both employed, which is correct regarding their income tax exemption in the…

A: As per our protocol we provide solution to the one question only and you have asked more than one…

Q: "Xavier and his wife Maria have total W-2 income of $95,102. They will file their tax return as…

A: The income tax refers to the amount of tax that is put by the government on the income earned by…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: Amount of AMT Deduction phases out or decreases 25% for every increase in AMTI above $1,047,200…

Q: Victor and Roberta Sanchez file jointly and had a combined income of $87,700 last year. They…

A: Tax liability is the amount of taxes that need to be paid to the government.

Q: Tom and Anne Marie are married taxpayers who file a joint return.  Tom has a sole proprietorship…

A: In this question, it is given that, married filing the join return. Qualified Business Income (QBI)=…

Q: Lynn is a single mother with two children. She qualifies to file as head of household. Her total…

A: Tax liability: When the assessee is earned their income from the different kinds of sources of the…

Q: Jorge and Anita, married taxpayers, earn $157,000 in taxable income and $47,000 in interest from an…

A: Marginal tax rate: It is the rate at which assessee 's incremental dollar in taxable earnings is…

Q: Charles and Ann are married, file a joint tax return, and report AGI of $135,300. They have two…

A: Child tax credit is the credit amount received to the individuals who have dependent children and…

Q: Victor and Roberta Sanchez file jointly and had a combined income of $83,700 last year. They…

A: Tax liability is the amount of taxes that needs to be paid to government. Consider the income…

Q: Victor and Roberta Sanchez file jointly and had a combined income of $85,700 last year. They…

A: With held tax - It is the amount held by an employer on behalf of employee from their salaries /…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: In the given case, Olga is married and files joint return with her Husband. Hence the phase out…

Q: Their income tax would be ​$______.

A: Income Tax : Income tax expense refers to the amount of expense that a business pays or recognizes…

Q: Ross is single with an adjusted gross income of $68,100, and he uses the standard deduction for…

A: Income tax: It implies to a financial levy or charge that is imposed on the income of taxpayer by…

Q: Emily and Juan are married and filed jointly. Their combined wages were $130,000 and they had no…

A: (a) Tax Payer - Emily and Juan (b) Status - Married Filing Jointly (MFJ) (c) Combined Wages = $…

Q: L. A. and Paula file as married taxpayers. In August of this year, they received a $6,740 refund of…

A: a. Because they did not itemize their deductions . L.A. and Paula received no benefit from the…

Q: Jaylen and Zan are married, filing jointly. Their total adjusted gross income was $80,000 and they…

A: Given: Gross income = $80,000 Standard deduction = $24,000

Q: Victor and Roberta Sanchez file jointly and had a combined income of $85,700 last year. They…

A: Victor and Roberta filing jointly Combined income= $85700 Contribution to retirement plan= $ 4200…

Q: Victor and Roberta Sanchez file jointly and had a combined income of $87,700 last year. They…

A: the tax rate for the employees who are married have the following slab rates: TAXABLE INCOME TAX…

Q: A. . Her $44,600 of taxable income includes $3,600 of qualified dividend B. Her $44,600 of taxable…

A: Qualified dividend are taxed as capital gains. Therefore, total tax liability: On non dividend…

Q: Havel and Petra are married and will file a joint tax return. Havel has W-2 income of $38,840, and…

A: Their taxable income is $63,382 ($38,840+$49,642-$25,100). Remember that you need to subtract the…

Q: Alan and Sara Winthrop are a married couple who file a joint income tax return. They have two…

A: SOLUTION CALCULATION- PARTICULARS AMOUNT INCOME  235300 LESS - ITEMIZED DEDUCTIONS  -27750…

Q: Victor and Roberta Sanchez file jointly and had a combined income of $87,700 last year. They…

A: The tax rate for married employees, filing jointly for the year 2021 is as follows: Taxable…

Q: Jenni is married filling separately with taxable income of $68,000. How much tax does she owe? (…

A: Given: Taxable Income =$68000

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: AMTI is alternate minimum tax amount that needs to be paid by the companies. This is different from…

Q: a. Tyler and Candice are married and file a joint tax return. They have adjusted gross income of…

A: Determining the amount of social security subject to taxation for married and filing returns…

Q: compute the tax

A: Tax refers to the amount which is charged by the government on the earnings of an individual or an…

Q: Consider the following couple, who are engaged to be married. Assume that each person takes one…

A: There are 5 filing status under the IRS with specified tax brackets. They are as follows:- Single;…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: Since Olga is married and files Joint Return, the appropriate exemption would be $114,600. However,…

Q: A married couple with 4 children is filing taxes jointly. They have a gross income of $436,202, and…

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: Matt and Alex are married and filed jointly. Their combined wages were $83,300. They received $1650…

A: Data given: Combined wages = $83,300 Interest income  = $ 1650 Child tax credit = $2000 Contribution…

Q: Consider the following​ couple, who are engaged to be married. Assume that each person takes one…

A: Caluclating Taxable income of Rebecca Rebecca's Gross income      =    $96400 ( - ) Standard…

Q: Matt and Kate have an AGI of $200,000 and they file married filing jointly and claim two dependent…

A: For the tax year 2020, eligible taxpayers can claim a tax credit of $2,000 per qualifying dependent…

Q: Lacy is a single taxpayer. In 2021, her taxable income is $44,600. What is her tax liability in each…

A: Tax brackets were created by the IRS to determine how much money you need to pay the IRS…

Q: Jaylen and Zan are married, filing jointly. Their total adjusted gross income was $81,000 and they…

A: Jaylen and Zan are married, filing jointly. Their total adjusted gross income was $81,000 and they…

Q: nd will file a joint tax return. Havel has W-2 income of $38,924, and Petra has W-2 income of…

A: Tax refers to the percentile deduction imposed by the government on the income earned by an entity.

Q: tax liability, marginal tax rate, and average tax rate

A: Taxable income $45,000 Tax rate on first $9,525 10% Tax rate on $9,525 to $38,700 12% Tax rate…

Q: Victor and Roberta Sanchez file jointly and had a combined income of $87,700 last year. They…

A: The tax rate for married employees, filing jointly for the year 2021 is as follows: Taxable…

Q: In 2020, Jasmine and Thomas, a married couple, had taxable income of $106,000. If they were to file…

A: If Jasmine and Thomas file joint return as a married couple: Joint Income = $106,000 Income Tax =…

Q: Seth and Vanessa are married and filing jointly. Their taxable income is $140,526. Use the Tax Rate…

A: Tax A tax may be defined as an involuntary contribution from individuals or corporations as required…

Q: Santiago and Amy are married and file a joint tax return claiming their three children, ages 12, 14,…

A: They can claim a child tax credit of $2000 per child for children below 17 years. So it's available…

Q: Victor and Roberta Sanchez file jointly and had a combined income of $84,700 last year. They…

A: Income tax: It refers to a financial charge imposed by the government on the taxable income of the…

Q: a. Bristol, who is single, has AMTI of $608,600. Her AMT exemption is $ X. b. Marley and Naila are…

A: AMT exemption amounts for 2021 (for taxes due in April 2022 or in October 2022 with an extension)…

Q: . Erwin and Eleanor are married and file a joint tax return. They have adjusted gross income of…

A: Social Security benefits are taxable according to the income of individuals or couples.  For married…

Q: Use the marginal tax rates in the table below to compute the tax owed in the following situation.…

A: Given, Taxable Income of Winona & Jim are Married filing jointly = $398,000, Tax credit =…

Q: Alan and Sara Winthrop are a married couple who file a joint income tax return. They have two…

A: Calculation of taxable income Particulars Amount Gross income 168300 Less: itemized deduction…