Elly and Frank are a married couple whose combined salaries equal $150,000
per year. Based on the tax table below, how much do they need to contribute
to their IRA in order to fall in a tax bracket lower than the one they are
currently in?
Single
Manied Flling Jointly
Taxable
Income is
over
But not
over
Bracket
Taxable
income is
over
But not
over
Bracket
10%
$0
15,700
10%
16,700
67,900
15%
8,350
33,950
82.250
171,550
372,950
8,350
33,950
82,250
171,560
372,950
15%
2%
28%
33%
67.900
137050
208 850
372,950
137,050
208,850
372,950
25%
28%
33%
35%
35%