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Review the federal income tax brackets for married taxpayers filing jointly.
[tex]\[
\begin{array}{|c|c|}
\hline \multicolumn{2}{|l|}{\text{Married Filing Jointly}} \\
\hline \text{If Taxable Income Is Between:} & \text{Then the Tax Due Is:} \\
\hline \$0 - \$19{,}400 & 10\% \text{ of taxable income} \\
\hline \$19{,}401 - \$78{,}950 & \$1{,}940 + 12\% \text{ of the amount over } \$19{,}400 \\
\hline \$78{,}951 - \$168{,}400 & \$9{,}086 + 22\% \text{ of the amount over } \$78{,}950 \\
\hline \$168{,}401 - \$321{,}450 & \$28{,}765 + 24\% \text{ of the amount over } \$168{,}400 \\
\hline \$321{,}451 - \$408{,}200 & \$65{,}497 + 32\% \text{ of the amount over } \$321{,}450 \\
\hline \$408{,}201 - \$612{,}350 & \$93{,}257 + 35\% \text{ of the amount over } \$408{,}200 \\
\hline \$612{,}351+ & \$164{,}709.50 + 37\% \text{ of the amount over } \$612{,}350 \\
\hline
\end{array}
\][/tex]

A married couple filing jointly has a taxable income of \[tex]$75,000. How much will they pay in federal income taxes?

A. \$[/tex]9,000

B. \[tex]$8,612

C. \$[/tex]6,672

D. \$7,500

Sagot :

GinnyAnsweridn
To determine how much a married couple filing jointly with a taxable income of \[tex]$75,000 will pay in federal income taxes, we need to follow these steps systematically: 1. Identify the Tax Bracket: - \$[/tex]0 to \[tex]$19,400: 10% - \$[/tex]19,401 to \[tex]$78,950: \$[/tex]1,940 plus 12% of the amount over \[tex]$19,400 - \$[/tex]78,951 to \[tex]$168,400: \$[/tex]9,086 plus 22% of the amount over \[tex]$78,950 - etc. Since \$[/tex]75,000 falls within the range of \[tex]$19,401 to \$[/tex]78,950, we will use the formula given for that range.

2. Calculate the Tax:
- First, we need to determine the amount over \[tex]$19,400 within the specified range. - The taxable income is \$[/tex]75,000.
- Subtract the lower limit of the bracket: \[tex]$75,000 - \$[/tex]19,400 = \[tex]$55,600. 3. Apply the Tax Rate to the Amount Over: - The tax due for this range is \$[/tex]1,940 plus 12% of the amount over \[tex]$19,400. - Thus, tax due = \$[/tex]1,940 + 0.12 * \[tex]$55,600. 4. Perform the Calculation: - Calculate 12% of \$[/tex]55,600.
[tex]\[ 0.12 \times 55,600 = 6,672 \][/tex]
- Add this amount to \[tex]$1,940. \[ 1,940 + 6,672 = 8,612 \] Thus, the married couple will pay \$[/tex]8,612 in federal income taxes.

Therefore, the correct answer is [tex]\(\$ 8612\)[/tex].
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