Question

Havel and Petra are married and will file a joint tax return. Havel has W-2 income of $45,588, and Petra has W-2 income of $47,229.

Use the appropriate 2019 Tax Tables and Tax Rate Schedules.

1. What is their tax liability using the Tax Tables?
2. What is their tax liability using the Tax Rate Schedule? (Round your intermediate computations and final answer to 2 decimal places.)

Answer 1

Income of Havel = 45588

Income of petra= 47229

Total = 92817

1.Tax liability using tax table 2019

Up to 19400 - 10% of 19400 .      - 1940

19400-78950- 12% in excess of 19400 - 7146

(78950-19400=59550,55550*12%)

78950-168400-22% in excess of 78950. -3050.74

(92817-78950=13867,13867*22%)

Total tax liability. -12136.74

2.Tax liability under tax rate 2019

Upto 250000 is null so there is no tax Liability under tax rate. But income tax allowed a standard deduction for join return that is 24400

Thank you.