Ineed help with Jill and George’s marginal tax rate for purposes ofmaking this decision as well as the tax savings of the residentQuiz: 2-3 MyAccountingLab Module Two Quiz: Chapters 1 and 2 This Question: 1 pt r of George are manied and tie a joint return. They expect to have M10.000 af taxable incomein the next year and are consideing wheeer to purchase apersonal residence that would proide addsonal tax deductions of $80,000 mortgage interest and real estate taxes (click the icon to view the 2013 tax nee schedule for the Marnedsingxintly sling status a. What is their marginalta for purposes of making eis decision? b. what is the tax saings if the residence is acquired? Reference Requirement a. What is their marginal tax tate for purposes of making this decision? The marginal tax rate is Ethe personal residence is not purchased and is the personal residence is purchased Manied Filing Joint and suriving spouse Requirement b what is the tax savings residence is acquired? (Do not reund ay interim calculators Round your fi If taxable income is The tax is Not over S17, B60 10% taxable income Tax without purchase of personal residence over $17,850 but not ST2,500 S1 TE5.00 15% of the excess over $17660 Tax with purchase of personal residence Over ST2.500 but not over Sta6400 $9.98250 25% the excess over Tax savings over $186 400 but not aver $223.050 21.45750 20% the excess over $146 Over $223.050 but not over S396.350 919 50 33% the excess own Over $398 350 but not over $45 000 $107708 50 35% the excess ever S3s8 350 $125 BME 00. 5% af the excess over Sifo Enter any number in the edit fields and then continue to the next question O Ask me anything Show transcribed image text Quiz: 2-3 MyAccountingLab Module Two Quiz: Chapters 1 and 2 This Question: 1 pt r of George are manied and tie a joint return. They expect to have M10.000 af taxable incomein the next year and are consideing wheeer to purchase apersonal residence that would proide addsonal tax deductions of $80,000 mortgage interest and real estate taxes (click the icon to view the 2013 tax nee schedule for the Marnedsingxintly sling status a. What is their marginalta for purposes of making eis decision? b. what is the tax saings if the residence is acquired? Reference Requirement a. What is their marginal tax tate for purposes of making this decision? The marginal tax rate is Ethe personal residence is not purchased and is the personal residence is purchased Manied Filing Joint and suriving spouse Requirement b what is the tax savings residence is acquired? (Do not reund ay interim calculators Round your fi If taxable income is The tax is Not over S17, B60 10% taxable income Tax without purchase of personal residence over $17,850 but not ST2,500 S1 TE5.00 15% of the excess over $17660 Tax with purchase of personal residence Over ST2.500 but not over Sta6400 $9.98250 25% the excess over Tax savings over $186 400 but not aver $223.050 21.45750 20% the excess over $146 Over $223.050 but not over S396.350 919 50 33% the excess own Over $398 350 but not over $45 000 $107708 50 35% the excess ever S3s8 350 $125 BME 00. 5% af the excess over Sifo Enter any number in the edit fields and then continue to the next question O Ask me anything
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