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J.PBuffet is a married investor with annual taxable income of 105500.How much will J.P...

J.P Buffet is a married investor with annual taxable income of 105500. How much will J.P pay in federal income tax when he files joint return?

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Expert Solution

total tax payable =14927

income left taxable income tax bracket tax rate tax payable
105500 19400 0-19400 10% 1940
86100 59550 19400-78950 12% 7146
26550 26550 78950-168400 22% 5,841.00
total tax payable 14,927.00

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