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Alan and Sara Winthrop a married couple who file a

Question : Alan and Sara Winthrop a married couple who file a : 2013

Alan and Sara Winthrop are a married couple who file a joint income tax return. They have two children, so they claim a total of 4 exemptions. In addition, they have legitimate itemized deductions totaling $25,750. Their total income from wages is $216,500. Assume the following tax table is applicable:Married Couples Filing Joint Returns

What is their marginal tax rate?

If Your TaxableIncome Is

You Pay ThisAmount on theBase of the Bracket

Plus This Percentageon the Excess over theBase

Average TaxRate atTop of Bracket

Up to $18,450

$ 0

10.0%

10.0%

$18,450-$74,900

1,845.00

15.0 

13.8 

$74,900-$151,200

10,312.50

25.0 

19.4 

$151,200-$230,450

29,387.50

28.0 

22.4 

$230,450-$411,500

51,577.50

33.0 

27.1 

$411,500-$464,850

111,324.00

35.0 

28.0 

Over $464,850

129,996.50

39.6 

39.6 

 

Solution
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Taxation 1 Year Ago 774 Views
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