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What is tax rate if married filing jointly with 2 children and gross income 75000?
Wiki User
∙ 9y ago
Under these circumstances and income your tax calculation would go like this:
$75,000 - (3,900 X 4 exemptions) - 12,200 (Std. Deduction) = $47200 Taxable Income. Your total income tax will be $7,728.75. Your top tax rate on the highest part of your income is in the 25% bracket but in reality your real tax rate is about 10% after you deduct your standard deduction and exemptions. This is not considering your child tax credits if your children are under 17 years old or any other credits like dependent care credits or such.
Wiki User
∙ 9y ago
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Brutus and Misty are married and filing jointly Their taxable income is 74223?
$12,176
What are the benefits to a married couple filing their income tax jointly?
A married couple filing their income tax jointly generally will owe less tax than a couple who file separately, but not always. A lot depends on the amount of income each spouse reports.
What are the advantages of filing for married income taxes jointly?
There are additions to tax benefits to filing your taxes as married filing jointly in most cases, the deductible is greater than it would be individually and there are often additional tax credits to married filers.
What married couples wishing to file a single tax return choose which filing status when filing a federal income tax return?
Married filing Jointly
How much income tax on 24000 filing jointly for a married couple?
1500.oo
Can you file your taxes jointly if you are not married?
The available filing statuses for federal income tax returns are: Single Married Filing Jointly Head of Household Married Filing Separately Qualifying Widow or Widower No, there is no filing status for Single Filing Jointly.
Brutus and Misty are married and filing jointly Their taxable income is 74223?
$12,176
What are the benefits to a married couple filing their income tax jointly?
A married couple filing their income tax jointly generally will owe less tax than a couple who file separately, but not always. A lot depends on the amount of income each spouse reports.
What are the advantages of filing for married income taxes jointly?
There are additions to tax benefits to filing your taxes as married filing jointly in most cases, the deductible is greater than it would be individually and there are often additional tax credits to married filers.
What married couples wishing to file a single tax return choose which filing status when filing a federal income tax return?
Married filing Jointly
How much income tax on 24000 filing jointly for a married couple?
1500.oo
When married but separated can married filing jointly be the filing status?
IF you are NOT LEGALLY separated in the state that you are a a resident of on the last day of the year. Your filing status would be married filing joint or on a separate 1040 federal income tax return MARRIED FILING SEPARATE.
What will be the 2007 earned income credit amount per child?
Income eligibility guidelines for 2007 tax year are: * Families with one child ($33,241 single parent) * Families with one child ($35,241married filing jointly) * Families with two or more children ($37,783 single parent) * Families with two or more children ($39,783 married filing jointly) * Single workers without children ($12,590) * Married workers without children ($14,590) * Investment Income Limit: $2,900 or less
How do you file your income tax married jointly?
You can file your federal taxes jointly if you are married. Even if your spouse is unemployed, filing jointly means he or she is still responsible for any outstanding taxes due should you not pay.
80000 is what income bracket in the US?
Single = 28% Married Filing Jointly & Qualifying Widow = 25% Married Filing Separate = 28% Head of Household = 25% http://taxresolutionaries.blogspot.com
If Neal and Linda had a combined taxable income of 209150 and filed their federal income tax return with the Married Filing Jointly filing status how much does the table below say that they should pay?
$46,840.50
Income tax after a divorce. Joint or separate filing?
If you are legally separated or legally divorced on the last day of the year, you should file as single or head of household. You should NOT file as Married Filing Jointly or Married Filing Separately.
