Rates for a Married Taxpayer Filing Separately Are 10% of Taxable

question 17

Short Answer

Rates for a married taxpayer filing separately are 10% of taxable income up to $8,375 and 15% thereafter up to $34,000. Rates for a couple filing a joint return are 10% of taxable income up to $16,750 and 15% thereafter up to $68,000. Miller and Laura Collins are figuring their tax both ways for comparison before deciding which way to file. Miller earned $20,000 and Laura earned $40,000. The standard deduction for a married couple filing jointly is $11,400. The standard deduction for each married taxpayer filing separately is $5,700. Exemption for each taxpayer is $3,650.​
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a.Compute the amount of tax the Collins will owe if they file a joint return.
b.Compute the amount of tax the Collins will owe if they file two separate returns.

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Definitions:

Edward Titchener

A psychologist known for developing the theory of structuralism and promoting the use of introspection in psychological research.

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