Solve the problem. Refer to the table if necessary. 2013 Marginal Tax Rates, Standard Deductions, and Exemptlons**

- Each higher marginal rate begins where the prior one leaves off. For example, for a single person, the $15 \%$ marginal rate affects income starting at $\$ 8925$, which is where the $10 \%$ rate leaves off, and continuing up to $\$ 36,250$.
" This table ignores the effects of (i) exemption and deduction phase-outs that apply to high-income taxpayers and (ii) the alternative minimum tax (AMT) that affects many middle- and high-income taxpayers.
-You are married filing jointly and have a taxable income of $287,874. You make monthly contributions of $1095 to a tax-deferred savings plan. Calculate the effect on annual take-home pay
Of the tax-deferred contribution.

Question

Solve the problem. Refer to the table if necessary. 2013 Marginal Tax Rates, Standard Deductions, and Exemptlons**

- Each higher marginal rate begins where the prior one leaves off. For example, for a single person, the $15 \%$ marginal rate affects income starting at $\$ 8925$, which is where the $10 \%$ rate leaves off, and continuing up to $\$ 36,250$.
" This table ignores the effects of (i) exemption and deduction phase-outs that apply to high-income taxpayers and (ii) the alternative minimum tax (AMT) that affects many middle- and high-income taxpayers.
-You are married filing jointly and have a taxable income of $287,874. You make monthly contributions of $1095 to a tax-deferred savings plan. Calculate the effect on annual take-home pay
Of the tax-deferred contribution.

Quizplus · Accepted Answer

The Answer of Solve the problem. Refer to the table if necessary. 2013 Marginal Tax Rates, Standard Deductions, and Exemptlons**

- Each higher marginal rate begins where the prior one leaves off. For example, for a single person, the $15 \%$ marginal rate affects income starting at $\$ 8925$, which is where the $10 \%$ rate leaves off, and continuing up to $\$ 36,250$.
" This table ignores the effects of (i) exemption and deduction phase-outs that apply to high-income taxpayers and (ii) the alternative minimum tax (AMT) that affects many middle- and high-income taxpayers.
-You are married filing jointly and have a taxable income of $287,874. You make monthly contributions of $1095 to a tax-deferred savings plan. Calculate the effect on annual take-home pay
Of the tax-deferred contribution.

Solve the Problem 15%15 \%15% Marginal Rate Affects Income Starting At $8925\$ 8925$8925

Solve the Problem $15 \%$ Marginal Rate Affects Income Starting At $\$ 8925$