Homework Answers
No tax credit is allowed as the income is more than the limits prescribed.
Standard deduction is $9300.
Personal exemption is $4050 and exemptions for dependents is another $8100. So total exemptions is $12150.
Income subject to tax = 68000 - 9300 - 12150 = 46550
Hence income tax owed by the tax payer = $1325 + (46550-13250)*0.15 = $6320
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his Question: 1 pl 8 of 14 (5 complete) Ise the 2016 marginal tax rates to...
this is the question TABLE 8.1 2016 Marginal Tax Rates. Standard Deductions, and Exemptions Daftarit, Married...
this is the question
TABLE 8.1 2016 Marginal Tax Rates. Standard Deductions, and Exemptions Daftarit, Married and Back dimarad, Partners legally served separate tax retur Married and the the Partners file single tak return Verarried and paying More than half the out of Supporting the partiet Married Filing Separately Tax Rate Single up to $9275 up to $9275 10% 15% 25% $9276 to $37,650 $37.651 to $91.150 $91.151 to $190,150 $190.151 to $413,350 $413,351 to $415.050 more than $415,050 28%...
X 8.2.11 2016 Marginal Tax Rates Use the 2016 marginal tax rates to compute the tax...
X 8.2.11 2016 Marginal Tax Rates Use the 2016 marginal tax rates to compute the tax owed by the following couple A married couple fling jointly with a taxable income of $300,000 and a $7500 tax credit Click the icon to view the 2016 marginal tax rates The tax owed is (Type an integer or a decimal Round to the nearest cent as needed) Tax Rate 10% 15% 255 28 Unmarried, divorced, Married and each partner Married and both Unmarried...
A married couple filing jointly with a taxable income of $295,000 and a $6000 tax credit...
A married couple filing jointly with a taxable income of
$295,000 and a $6000 tax credit
The tax code is
mathxl.com mat142 26758 Test: Module 6A Test This Question: 1 pt 9 of 20 (17 complete) Use the 2016 marginal tax rates to compute the tax owed by the following couple. A married couple filing jointly with a taxable income of $295,000 and a $6000 tax credit Click the icon to view the 2016 marginal tax rates. The tax owed...
Use the 2012 marginal tax rates to compute the tax owed by the following person. Round...
Use the 2012 marginal tax rates to compute
the tax owed by the following person. Round taxable income to the
nearest dollar as needed. A single woman with a taxable income of
$78000
The tax owed is
2012 Marginal Tax Rates, Standard Deductions, and Exemptions Unmarried, divorced, Married and each partner Married and both Unmarried and paying or legally separated files a separate tax return partners file a single more than half the cost tax return of supporting a...
4 pts Use the table to calculate the tax owed. Round to the nearest cent. TABLE...
4 pts Use the table to calculate the tax owed. Round to the nearest cent. TABLE 8.1 2016 Marginal Radio Standard Deductions, and Emplom TR Single Married Filing Separately up to $9275 10% 15% 25% up to $9275 27651750 3374516391,150 SP1.151 to 5190,150 S11515413350 5413.515415.00 more than $41500 33% 15% Married ligy Hech up to SIR 350 up to $17.250 SIR551575.300 511251 to $50.00 575.301 5151.900 $50,401 5130,150 S151015231,450 151 152100 $231,451 5413,150 $21001 5413,150 5411_15165466,950 5411151544100 more than som...
What would be the marginal and average tax rates for a married couple with taxable income...
What would be the marginal and average tax rates for a married
couple with taxable income of $90,000? For an unmarried taxpayer
with the same income? Use Table 3.7. (Do not round
intermediate calculations. Enter the marginal tax rate as a percent
rounded to 1 decimal place. Enter the average tax rate as a percent
rounded to 1 decimal place.)
a. What would be the marginal tax rate for a
married couple with income of $90,000?
b. What would be...
Use the 2012 marginal tax rates in the table below to compute the tax owed by...
Use the 2012 marginal tax rates in the table below to compute the tax owed by the following persa single female, no dependents with Gross income: $75,000 Adjustments: $4,000 Deductions: $28,000 mortgage interest $4,200 property taxes $3,000 charitable contributions Taxable credit: None 2012 Marginal Tax Rates Standard Deductions, and Exemptions Unmarried, divorced, or legally separated Married and each partner files a separate tax return Married and both Unmarried and paying mo partners file a than half the cost of single...
n 2016, to help pay for college, you worked part-time at a local restaurant, earning $...
n 2016, to help pay for college, you worked part-time at a local restaurant, earning $ 31 comma 000 in wages and tips. Use the following information to complete parts (a) through (c) below. For people who are not self-employed, the 2016 FICA tax rates were as follows: 7.65% on the first $118,500 from wages and tips 1.45% on income in excess of $118,500 Taxpayers are not permitted to subtract adjustments, exemptions, or deductions when determining FICA taxes. 2016 Marginal...
How to apply deduction to tax amount? Do multiple deductions stack? Please help grades of 30...
How to apply deduction to tax amount? Do multiple
deductions stack? Please help
grades of 30 students in a math class: ААААААввввввccccccccccoDDDDFFF Problem 5 (30 points) Using 2017 rates below, calculate the tax owed by each of the following people. Assume that they all take the standard deduction and neglect any tax credits a) Deidre is single with dependents. Her adjusted gross income is $150,000. b) Robert is a head of household taking care of two dependent children. His adjusted...
The following table shows the U.S. rates of personal tax as of year 2016, and these...
The following table shows the U.S. rates of personal tax as of year 2016, and these tax rates presented in this table are marginal tax rates, Single Taxpayers Married Taxpayers Filing Joint Returns Tax Rate (%) 0-$9.275 0-$18,550 10.0 $9,276-$37,650 $18,551-$75,300 15.0 $37,651-$91,150 $75,301-$151,900 25.0 $91,151-$190,150 $151,901-$231,450 128.0 $190,151-$413,350 $231,451-$413,350 33.0 $413,351-$415,050 $413,351-$466,950 35.0 $415,051 and above $466,951 and above 39.6 Based on this table, answering the following questions: (Please show your intermediate processes, instead of just a final number...
this is the question
TABLE 8.1 2016 Marginal Tax Rates. Standard Deductions, and Exemptions Daftarit, Married and Back dimarad, Partners legally served separate tax retur Married and the the Partners file single tak return Verarried and paying More than half the out of Supporting the partiet Married Filing Separately Tax Rate Single up to $9275 up to $9275 10% 15% 25% $9276 to $37,650 $37.651 to $91.150 $91.151 to $190,150 $190.151 to $413,350 $413,351 to $415.050 more than $415,050 28%...
X 8.2.11 2016 Marginal Tax Rates Use the 2016 marginal tax rates to compute the tax owed by the following couple A married couple fling jointly with a taxable income of $300,000 and a $7500 tax credit Click the icon to view the 2016 marginal tax rates The tax owed is (Type an integer or a decimal Round to the nearest cent as needed) Tax Rate 10% 15% 255 28 Unmarried, divorced, Married and each partner Married and both Unmarried...
A married couple filing jointly with a taxable income of
$295,000 and a $6000 tax credit
The tax code is
mathxl.com mat142 26758 Test: Module 6A Test This Question: 1 pt 9 of 20 (17 complete) Use the 2016 marginal tax rates to compute the tax owed by the following couple. A married couple filing jointly with a taxable income of $295,000 and a $6000 tax credit Click the icon to view the 2016 marginal tax rates. The tax owed...
Use the 2012 marginal tax rates to compute
the tax owed by the following person. Round taxable income to the
nearest dollar as needed. A single woman with a taxable income of
$78000
The tax owed is
2012 Marginal Tax Rates, Standard Deductions, and Exemptions Unmarried, divorced, Married and each partner Married and both Unmarried and paying or legally separated files a separate tax return partners file a single more than half the cost tax return of supporting a...
4 pts Use the table to calculate the tax owed. Round to the nearest cent. TABLE 8.1 2016 Marginal Radio Standard Deductions, and Emplom TR Single Married Filing Separately up to $9275 10% 15% 25% up to $9275 27651750 3374516391,150 SP1.151 to 5190,150 S11515413350 5413.515415.00 more than $41500 33% 15% Married ligy Hech up to SIR 350 up to $17.250 SIR551575.300 511251 to $50.00 575.301 5151.900 $50,401 5130,150 S151015231,450 151 152100 $231,451 5413,150 $21001 5413,150 5411_15165466,950 5411151544100 more than som...
What would be the marginal and average tax rates for a married
couple with taxable income of $90,000? For an unmarried taxpayer
with the same income? Use Table 3.7. (Do not round
intermediate calculations. Enter the marginal tax rate as a percent
rounded to 1 decimal place. Enter the average tax rate as a percent
rounded to 1 decimal place.)
a. What would be the marginal tax rate for a
married couple with income of $90,000?
b. What would be...
Use the 2012 marginal tax rates in the table below to compute the tax owed by the following persa single female, no dependents with Gross income: $75,000 Adjustments: $4,000 Deductions: $28,000 mortgage interest $4,200 property taxes $3,000 charitable contributions Taxable credit: None 2012 Marginal Tax Rates Standard Deductions, and Exemptions Unmarried, divorced, or legally separated Married and each partner files a separate tax return Married and both Unmarried and paying mo partners file a than half the cost of single...
How to apply deduction to tax amount? Do multiple
deductions stack? Please help
grades of 30 students in a math class: ААААААввввввccccccccccoDDDDFFF Problem 5 (30 points) Using 2017 rates below, calculate the tax owed by each of the following people. Assume that they all take the standard deduction and neglect any tax credits a) Deidre is single with dependents. Her adjusted gross income is $150,000. b) Robert is a head of household taking care of two dependent children. His adjusted...
The following table shows the U.S. rates of personal tax as of year 2016, and these tax rates presented in this table are marginal tax rates, Single Taxpayers Married Taxpayers Filing Joint Returns Tax Rate (%) 0-$9.275 0-$18,550 10.0 $9,276-$37,650 $18,551-$75,300 15.0 $37,651-$91,150 $75,301-$151,900 25.0 $91,151-$190,150 $151,901-$231,450 128.0 $190,151-$413,350 $231,451-$413,350 33.0 $413,351-$415,050 $413,351-$466,950 35.0 $415,051 and above $466,951 and above 39.6 Based on this table, answering the following questions: (Please show your intermediate processes, instead of just a final number...
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