Question

Jorge and Anita, married taxpayers, earn $150,000 in taxable income. Using the 2019 U.S. tax rate schedule for married filing jointly, how much federal tax will they owe_______

Answer 1

the federal tax owed is $24,717

Step-by-step explanation:

The computation of the federal tax owed is shown below:

Given that

Taxable income= $150,000

The status is married and filed jointly

Now the federal tax is

= $9,086 + 22% of ($150,000 - $78,950)

= $9,086 + 22% of $71,050

= $9,086 + $15,631

= $24,717

Hence, the federal tax owed is $24,717

The same is to be considered and relevant