Amount owe in federal taxes is $9,889
Given that;
Gross income = $150,000
Married and filing jointly
Find:
Amount owe in federal taxes
Computation:
Taxable Income = Gross Income - Standard Deduction
Taxable Income = $150,000 - $24,800
Taxable Income = $125,200
Tax rate slab between [$80,250 to $171,050] is 22%
So,
Amount owe in federal taxes = 22%[125,200 - 80,250]
Amount owe in federal taxes = $9,889
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