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Tax Tables

Last updated over 1 year ago

6 questions

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Question 1

1.

How much money will you owe on your 2023 Federal Income taxes if you made $40,425 and file as single?

Show your work with a screenshot of where you found the answer.

Question 2

2.

How much money will you owe on your Federal Income taxes if you and your spouse made $94,325 combined and filed as Married Jointly?

Show your work with a screenshot of where you found the answer.

Question 3

3.

How much money will you owe on your Federal Income taxes if you made $110,030 and filed as Single?
(HINT, use the worksheet on pg 15 of the PDF)

$19257.20

$26,407.20

$19,807.20

$4502

Question 4

4.

Suppose we have a married couple trying to decide what is the better deal in terms of filing their taxes.
Beth makes $95,426 and Jerry makes $85,890.
How much money will they owe if they file separately, then combine their tax burdens?

$9856

$35,136

$30,502

$31,248

Question 5

5.

Suppose we have a married couple trying to decide what is the better deal in terms of filing their taxes.
Beth makes $95,426 and Jerry makes $85,890.
How much money will they owe if they file jointly?

(HINT Add their incomes together, then use Section B of the Worksheet of pg 15 of the PDF)

$9856

$35,136

29,186.52

$30,504.52

Question 6

6.

Suppose we have a married couple trying to decide what is the better deal in terms of filing their taxes. Beth makes $95,426 and Jerry makes $85,890.
How much money will they SAVE by filing jointly?

$2.52

$12,441.00

$16,923

$5,453