Hillary is thinking of asking her husband Bill to go back to…
Hillary is thinking of asking her husband Bill to go back to work. They had taxable income this year of $150,000. Bill was offered paid speaking engagements that would add up to about $90,000. Calculate the marginal rate on the additional income using the following tax rate schedule information: Income of $19,050 -$77,400 tax is $1,905+12% of the amount over $19,050 Income of $77,400 – $165,000 tax is $8,907 +22% of the amount over $77,400 Income of $$165,000 – $315,000 Tax is $28,179 +24% of the amount over $165,000