During 2018, the Smiths and the Joneses both fied joint tax returns. For the tax...
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During 2018, the Smiths and the Joneses both fied joint tax returns. For the tax yoar ended Docember 31,2018 , Ehe 5 miths' taxable income was $139,000, and the Jones had fotal taxablo ncome of $69.500. a. Uning the federal tax rates given in Table 1.2. , for married couples filing joint returns, calculate the taxes for both the Smiths and the Joheses. b. Cakculate and compare the ratio of the Smiths' to the Joneses' taxable income and the ratio of the Smith' to the Joneses' taxes What does this dechonstrate about eno federal incorne tax structure? a. Using the foderal tax rates piven in Table 1.2 for mamed couples fling joint retums, the taxes for the Smthe is (Round to the nearest dolyr)
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