Homework Answers
Please find below answer.
Given : JP wood is a married worker and files joint a return to pay federal taxes. Her total Income is $195000
for Tax Caluation slabes given in question will be used as per below :
| Income falling under slabs | Amount | Tax Rate | Tax Amount |
| First slab | $ 20,000.00 | 10% | $ 2,000.00 |
| Second slab | $ 60,000.00 | 12% | $ 7,200.00 |
| Third slab | $ 85,000.00 | 22% | $ 18,700.00 |
| Fourth slab | $ 30,000.00 | 24% | $ 7,200.00 |
| Total | $ 195,000.00 | $ 35,100.00 |
Note Please refer below for slab calcuation of income
First Salb =((10% *20000)+
SecondSlab =(80000-20000)*12%+
Third slab = (165000-80000)*22%+
Fourth slab = (195000-165000)*24%)
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