Homework Answers
a). Taxable income = AGI- Deductions
= 65000-2500
=62500
taxable @25% = (62500*25)/100
= 15625
b). Taxable income = 110000-15000
=95000
taxable @ 28% = 26600
c). taxable income = 150000-8000
= 142000
taxable @ 25% = 35500
d). taxable income (1) = 80000-5000
=75000
Taxable @ 25% = 18750
Taxable income (2) = 70000-3000
=67000
Taxable @ 25% = 16750
total taxable of (1) and (2) = 35500
Married filing = 150000-8000
= 142000
Taxable @ 25% = 35500
Both are same
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