Answer:
$9,937.50
Step-by-step explanation:
Given
Total income of a married couple = $100,000
Number of children the couple has = 2
The taxable income of the family can be calculated by
Taxable income = total income - exemption deduction - standard deduction
We know that the exemption deduction for a married couple with two children as fixed by the U.S. government is $15,600.
And the standard deduction for a married couple with two children as fixed by the U.S. government is $12,200.
Thus the taxable income can be calculated by
Taxable income = total income - exemption deduction - standard deduction
= $100,000 - $15,600 - $12,200
= $72,200.
So the taxable income is $72,200.
Now if the taxable income is in the range between
$17,850 to $72,500, the tax is $1,785 plus the marginal rate of 15% of the amount of $72,200 that is over $17,850.
Now in order to calculate tax ---
add $1,785 plus the marginal rate of 15% of the amount of $72,200 that is over $17,850.
Now deducting $17,850 from $72,200 will give $54,350.
So 15% of $54,350 is $8152.50
Therefore add $1,785 and $8,152.50 = $9,937.50
Therefore the tax payed by the couple is $9,937.50