9514 1404 393
Answer:
(a) $8230
Explanation:
The standard deduction for a married couple ($12,200) is subtracted from the adjusted gross income to find the taxable income. That amount is ...
$73,015 -12,200 = $60,815
This puts their income in the 15% tax bracket, so the tax can be computed as ...
$1785 +15%(60,815 -17,850) = $8229.75
The amount of tax is rounded to the nearest dollar, so is $8230.
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2013 tax brackets were ...
≤ 17850 – 10%
≤ 72500 – 15%
≤ 146400 – 25%
The tax rate applies to the income excess over the upper end of the previous bracket. The tax applicable to that upper end is then added.
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The tax computations can be simplified to ...
≤ 17850 – 10% of taxable income
≤ 72500 – $892.50 subtracted from 15% of taxable income
≤ 146400 – $8142.50 subtracted from 25% of taxable income
