The Johnsons had two children, both of them aremarried and
Chapter 17, Problem 17.14(choose chapter or problem)
The Johnsons had two children, both of them aremarried and now have their own families, callthem Family A and Family B. They both file theirU.S. income taxes as married, filing jointly.Information collected for a year for each family isshown below. Neglecting any effect of state taxes,use a spreadsheet and the latest tax rates from theIRS publication 17, Your Federal Income Tax(www.irs.gov), to determine the following for eachfamily:(a) Percentage of TI paid in federal taxes.(b) Percentage of total income (salaries,dividends, and other) paid in federal taxes.Family A BSalaries, $1000 65 290Dividends, $1000 8 58Other income 0 14Exemptions 5 3Deductions, $1000 12 25 Exemptions are $4000 per individual (adult orchild). Deductions for Family A are standard anditemized for B.
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