What is the amount of the tax liability for a married couple filing jointly,having taxable income of $153,500? All answers should be rounded to the nearest dollar. Use the appropriate Tax Tables or Tax Rate Schedules.
A)$38,375.
B)$29,753.
C)$30,233.
D)$29,865.

Question

Quizplus · Accepted Answer

For a married couple filing jointly in 2023, the tax brackets are as follows: 10% on income up to $22,000, 12% on income over $22,000 up to $89,450, 22% on income over $89,450 up to $190,750. Calculating the tax: 10% of $22,000 = $2,200; 12% of ($89,450 - $22,000) = $8,094; 22% of ($153,500 - $89,450) = $14,571. Total tax = $2,200 + $8,094 + $14,571 = $24,865.

What Is the Amount of the Tax Liability for a Married