Mr and Mrs David File a Joint Tax Return

question 86

Multiple Choice

Mr and Mrs David file a joint tax return. They have $169,300 taxable income in 2018, $120,300 of which is ordinary income and $49,000 of which is taxed at a 15% preferential rate. Compute their tax savings from the preferential rate. 

• A) $7,032
• B) $3,516
• C) $7,350
• D) None of the above.

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Definitions:

GLOBE Project

The GLOBE Project is a large-scale study that investigates how cultural values influence leadership and organizational practices across different nations and cultures.

World Trade

The exchange of goods, services, and capital across international borders, facilitating global economic interconnectivity and development.

Goods And Services

The products (goods) and activities (services) that are produced or provided to satisfy consumers' needs and wants.

Trillion

A numerical value representing one thousand billion, or 10^12 in scientific notation.