Problemscot and vidia married taxpayers earn 95000 in, Ask an Expert

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Problem:

Scot and Vidia, married taxpayers, earn $95,000 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. (Use the U.S. tax rate schedule). Explain in detail.

Required:

Question 1: If Scot and Vidia earn an additional $83,500 of taxable income, what is their marginal tax rate on this income?

Question 2: How would your answer differ if they, instead, had $83,500 of additional deductions? Explain in detail.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91146010

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