42 - The problem tells you Betty and Ronald’s W-2 income...

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48. The W-2 income of Betty and her husband Ronald were $32,922 and $30,139, respectively. If Betty and Ronald use a filing status of married filing jointly, determine their tax liability. Answer: Their tax liability is $6,054.
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Unformatted text preview: The problem tells you Betty and Ronald’s W-2 income. To determine taxable income (the number necessary to use the tax tables) you need to subtract the permitted deduction of $17,500. Their taxable income is $45,561....
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This note was uploaded on 09/16/2011 for the course ACCOUNTING 145 taught by Professor Eric during the Spring '11 term at Palm Beach Community College.

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