FIN 215-Determine the tax liability, marginal tax rate

by | Mar 18, 2020 | Uncategorized

Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. (Use the tax tables to compute tax liability. Round “Average tax rate” to 2 decimal places.)

Use the Form 1040EZ Tax Tables and Tax Rate Schedules.

  1. Married taxpayers, who file a joint return, have taxable income of $76,792.
  2. Married taxpayers, who file a joint return, have taxable income of $97,137.

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