For 2022 income, a married couple is in the 22% bracket until their income goes over $178,150. Above that, they enter the 24% bracket. Let's assume that you and your spouse had a combined taxable federal income of $178,150 in 2022, and you calculated your tax liability to be $30,427. At the last minute, you realize that you actually made $188,150 because you forgot about that $10,000 bonus you received for being employee-of-the-month. What would your new tax liability be after including this additional income? (You do not have to consult any tax tables to answer this question. Some simple math should be enough.) $24,000 $31,411 $32,827 $43,452 $39,831

For 2022 income, a married couple is in the 22% bracket until their income goes over $178,150. Above that, they enter the 24% bracket. Let's assume that you and your spouse had a combined taxable federal income of $178,150 in 2022, and you calculated your tax liability to be $30,427. At the last minute, you realize that you actually made $188,150 because you forgot about that $10,000 bonus you received for being employee-of-the-month. What would your new tax liability be after including this additional income? (You do not have to consult any tax tables to answer this question. Some simple math should be enough.) $24,000 $31,411 $32,827 $43,452 $39,831

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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