Question

Xavier and his wife Maria have total W-2 income of $93,102. They will file their tax return as married filing jointly. They had a total of $7,910 withheld from their paychecks for federal income tax purposes. Determine the amount of refund or additional tax due upon filing their tax return. (Input your answer as a positive number.)

Use the appropriate 2019 Tax Tables.

Additional Tax due or Amount of Refund - Amount ?

Answer 1

Xavier And His Wife are Filling returns Jiontly so they are eligible for Standard Deduction of $24,400

Let us first Caluculate the Taxable Income :

Particulars	Amount
Household Income	$        93,102
Standard Decutions	$        24,400
Taxable	$        68,702

2019 , have following Tax Rates :

• 35 percent, for incomes over $204,100 ($408,200 for married couples filing jointly);
• 32 percent for incomes over $160,725 ($321,450 for married couples filing jointly);
• 24 percent for incomes over $84,200 ($168,400 for married couples filing jointly);
• 22 percent for incomes over $39,475 ($78,950 for married couples filing jointly);
• 12 percent for incomes over $9,700 ($19,400 for married couples filing jointly).
• The lowest rate is 10 percent for incomes of single individuals with incomes of $9,700 or less ($19,400 for married couples filing jointly).

Xavier and his wife Maria have total Taxable Income of $68,702

Let us Calcuate Tax now ,

%	Taxable Income	Tax Amount
10	$ 19400	$ 1940
12	$ 49302	$ 5916
Total	$ 68702	$ 7856

They have witheld amount of $7910 and Total tax for year 2019 is $7856

Hence Amount of Refund

= $7910-$7856

= $ 54

Xavier & Maria will revecive $ 54 as a Refund Amount