For 2022 income, a married couple is in the 22% bracket until their income goes over $178,150. Above that, they enter the 24% bracket. Let's assume that you and your spouse had a combined taxable federal income of $178,150 in 2022, and you calculated your tax liability to be $30,427. At the last minute, you realize that you actually made $188,150 because you forgot about that $10,000 bonus you received for being employee-of-the-month. What would your new tax liability be after including this additional income? (You do not have to consult any tax tables to answer this question. Some simple math should be enough.) $24,000 $31,411 $32,827 $43,452 $39,831
For 2022 income, a married couple is in the 22% bracket until their income goes over $178,150. Above that, they enter the 24% bracket. Let's assume that you and your spouse had a combined taxable federal income of $178,150 in 2022, and you calculated your tax liability to be $30,427. At the last minute, you realize that you actually made $188,150 because you forgot about that $10,000 bonus you received for being employee-of-the-month. What would your new tax liability be after including this additional income? (You do not have to consult any tax tables to answer this question. Some simple math should be enough.) $24,000 $31,411 $32,827 $43,452 $39,831
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 54P: On June 30, 2019, Kelly sold property for 240,000 cash and a 960,000 note due on September 30, 2020....
Related questions
Question
![For 2022 income, a married couple is in the 22% bracket until their income goes over $178,150.
Above that, they enter the 24% bracket. Let's assume that you and your spouse had a combined
taxable federal income of $178,150 in 2022, and you calculated your tax liability to be $30,427. At
the last minute, you realize that you actually made $188,150 because you forgot about that
$10,000 bonus you received for being employee-of-the-month. What would your new tax liability
be after including this additional income? (You do not have to consult any tax tables to answer this
question. Some simple math should be enough.)
$24,000
$31,411
$32,827
$43,452
$39,831](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4b2a219b-8fc3-46cd-bb39-b85b9be4d48a%2F5c6ad27b-2652-475d-ac74-cf1d65bade60%2F644byt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:For 2022 income, a married couple is in the 22% bracket until their income goes over $178,150.
Above that, they enter the 24% bracket. Let's assume that you and your spouse had a combined
taxable federal income of $178,150 in 2022, and you calculated your tax liability to be $30,427. At
the last minute, you realize that you actually made $188,150 because you forgot about that
$10,000 bonus you received for being employee-of-the-month. What would your new tax liability
be after including this additional income? (You do not have to consult any tax tables to answer this
question. Some simple math should be enough.)
$24,000
$31,411
$32,827
$43,452
$39,831
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT