What is their marginal tax rate on this income

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Reference no: EM131286971

Scot and Vidia, married taxpayers, earn $62,500 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. (Use the U.S. tax rate schedule). (Do not round intermediate calculations. Round your answer to 2 decimal places

"MUST USE 2015 TAX RATE SCHEDULE"

A) If Scot and Vidia earn an additional $19,500 of taxable income, what is their marginal tax rate on this income?________%

B) How would your answer differ if they, instead, had $19,500 of additional deductions?

The marginal tax rate would be?_____________%

Reference no: EM131286971

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