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Below, we have the tax table that was applicable for married indivuals filing jointly in...

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Accounting

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Below, we have the tax table that was applicable for married indivuals filing jointly in 2020. Taxable income: 5225,000 Create a tax table in Excel for a couple filing jointly similar to the individual tax table shown above. Your spreadsheet should then calculate the marginal tax rate, the average tax rate, and the tax bill for any level of taxable income input by a user. For a taxable income of $225,000, what is the marginal tax rate? For a taxable income of $225,000, what is the total tax bill? For a taxable income of $225,000, what is the average tax rate? Master it / Solution If taxoble income is But not a. over over.. The tax is: of the amount over plus of the amount over plus of the amount over plus of the amount over plus of the amount over plus of the amount over plus of the amount over b. The marginal tax rate is: c. The total tax bill is: Tax on the bottom of marginal tax bracket: Amount of income in marginal tax bracket: Total tax d. The average tax rate is

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