You and spouse are filing a joint return. Your current deductions have reduced your taxable income to $88,990, bringing you int

Question

spin [16.1K]

3 years ago

10

You and spouse are filing a joint return. Your current deductions have reduced your taxable income to $88,990, bringing you int

o the 25 percent tax bracket. The first dollars you earned will be taxed at the ________ tax bracket.

Business

2 answers:

Strike441 [17] · Answer 1 · 2022-07-11T15:43:44+03:00

Answer:

10%

Explanation:

The current tax brackets (2019 taxes due April 2020) for married filing together are:

Tax rate Married filing jointly

10% $0 – $19,400

12% $19,401 – $78,950

22% $78,951 – $168,400

24% $168,401 – $321,450

It doesn't matter if your income is $500 million, $100,000 or $20,000, the first dollars that you earn always fall into the first bracket (10%). Tax brackets are progressive, this means that they increase as your income increases, but everyone starts in the first one.

almond37 [142] · Answer 2 · 2022-07-11T13:35:24+03:00

almond37 [142]3 years ago

3 0

Answer: Deductions

Explanation:

You and spouse are filing a joint return. Your current deductions have reduced your taxable income to​ $88,990, bringing you int

You and spouse are filing a joint return. Your current deductions have reduced your taxable income to $88,990, bringing you int