Homework Answers
Head of Household
Answer: $116135
| Income | Tax Rate | Tax $ | |
| 13150 | 10% | 1315 | |
| 37050 | 15% | 5557.5 | |
| 79400 | 25% | 19850 | |
| 80250 | 28% | 22470 | |
| 201650 | 33% | 66544.5 | |
| 1137 | 35% | 397.95 | |
| Total $ | 412637 | 116135 |
Single
Answer: $115286
| Income | Tax Rate | Tax $ | |
| 9225 | 10% | 922.5 | |
| 28225 | 15% | 4233.75 | |
| 53300 | 25% | 13325 | |
| 98550 | 28% | 27594 | |
| 209729 | 33% | 69210.57 | |
| Total $ | 399029 | 115285.8 |
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Filing 2015 Marginal Tax Rates Married Married Head of Single Filing Filing Household Jointly Separately Status...
$100,000. If taxable neoll The 2015 tax table provided by the IRS is to be used...
$100,000. If taxable neoll The 2015 tax table provided by the IRS is to be used when taxable income is below exceeds $100,000, then the marginal tax rates are used to calculate the tax owed. 2015 Marginal Tax Rates Head of Married Filing Jointly Filing Separately Household Married Filing Status Single Income Brackets Tax Rate 1096 15% 25% 28% 3396 18,450 0 9,225 013,150 0-9,225 9.226 37,450 18,451 74,900 9.226 37.450 13,151 50,200 37,451-90,7501 74,901-151,20 50,201-129.600 ||129.601-209,850 37,451-75,600 ーー 751-189,300|151,201ー230,450|75,601-115.225...
Problem 2-25 The Benjamin family had wage earnings of $198,000 in 2015. They received interest of $4,500 on corporate b...
Problem 2-25 The Benjamin family had wage earnings of $198,000 in 2015. They received interest of $4,500 on corporate bonds and $1,500 on bonds issued by the state. Their dividend income was $500, and they had a $1,000 long-term capital gain on the sale of securities. They paid real estate taxes of $1,450 and state income tax of $3,000, and they donated $550 to their church. They paid interest of $8,000 on their home mortgage. They have one dependent child...
Mary Jarvis is a single individual who is working on filing her tax return for the...
Mary Jarvis is a single individual who is working on filing her
tax return for the previous year. She has assembled the following
relevant information:
She received $70,000 in
salary.
She received $12,000 of
dividend income.
She received $8,300 of
interest income on Home Depot bonds.
She received $22,000 from the
sale of Disney stock that was purchased 2 years prior to the sale
at a cost of $6,500.
She received $11,500 from the
sale of Google stock that was...
Mary Jarvis is a single individual who is working on filing her tax return for the...
Mary Jarvis is a single individual who is working on filing her
tax return for the previous year. She has assembled the following
relevant information:
She received $94,000 in salary.
She received $15,000 of dividend income.
She received $6,200 of interest income on Home Depot
bonds.
She received $23,000 from the sale of Disney stock that was
purchased 2 years prior to the sale at a cost of $6,100.
She received $11,500 from the sale of Google stock that was...
PERSONAL TAXES Susan and Stan Britton are a married couple who file a joint income tax...
PERSONAL TAXES Susan and Stan Britton are a married couple who file a joint income tax return, where the tax rates are based on the tax table 3.5. Assume that their taxable income this year was $295,000. Round your answers to two decimal places. a. What is their federal tax liability? b. What is their marginal tax rate? 0 0 c. What is their average tax rate? 0 0 Table 3.5 2015 Individual Tax Rates Single Individuals Average Tax You...
Becky is getting ready to do her taxes. She is single and lives in Denver. Becky...
Becky is getting ready to do her taxes. She is single and lives in Denver. Becky earned $110,000 in taxable income in 2015. She reviews the following table, which shows the IRS tax rates for a single taxpayer in 2015.On Annual Taxable Income...The Tax Rate Is... (Percent)Up to $9,22510.0From $9,225 to $37,45015.0From $37,450 to $90,75025.0From $90,750 to $189,30028.0From $189,300 to $411,50033.0From $411,500 to $413,20035.0Over $413,20039.6Based on the IRS table, Becky calculates that her marginal tax rate is _______ when her...
PLEASEEEEEE someone help!! I have posted four times now. Mary Jarvis is a single individual who...
PLEASEEEEEE someone
help!! I have posted four times now.
Mary Jarvis is a
single individual who is working on filing her tax return for the
previous year. She has assembled the following relevant
information:
She received $70,000 in
salary.
She received $12,000 of
dividend income.
She received $8,300 of
interest income on Home Depot bonds.
She received $22,000 from the
sale of Disney stock that was purchased 2 years prior to the sale
at a cost of $6,500.
She received...
2. Taxes paid for a gliven income level to do her taxes. She is single and...
2. Taxes paid for a gliven income level to do her taxes. She is single and lives in San Francisco. Beth earned $110,000 in taxable income in 2015. She reviews the following table, which shows the IRS tax rates for a single taxpayer in 2015 The Tax Rate Is... (Percent) 10.0 15.0 25.0 28.0 3.0 35.0 39.6 On Annual Taxable Income... Up to $9,225 From $9,225 80 537,450 From $37,450 to $90,750 From $90,750 to $189,300 From $189,300 to $411,500...
Excel Online Structured Activity: Personal taxes Mary Jarvis is a single individual who is working on...
Excel Online Structured Activity: Personal taxes Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information: • She received $124,000 in salary. • She received $19,000 of dividend income. • She received $4,900 of interest income on Home Depot bonds. • She received $21,000 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $6,300. •...
2. Taxes paid for a given income level Van is getting ready to do his taxes....
2. Taxes paid for a given income level Van is getting ready to do his taxes. He is single and lives in New York City. Van earned $70,000 in taxable income in 2015. He reviews the following table, which shows the IRS tax rates for a single taxpayer in 2015. On Annual Taxable Income... The Tax Rate Is... (Percent) Up to $9,225 10.0 From $9,225 to $37,450 15.0 From $37,450 to $90,750 25.0 From $90,750 to $189,300 28.0 From $189,300...
$100,000. If taxable neoll The 2015 tax table provided by the IRS is to be used when taxable income is below exceeds $100,000, then the marginal tax rates are used to calculate the tax owed. 2015 Marginal Tax Rates Head of Married Filing Jointly Filing Separately Household Married Filing Status Single Income Brackets Tax Rate 1096 15% 25% 28% 3396 18,450 0 9,225 013,150 0-9,225 9.226 37,450 18,451 74,900 9.226 37.450 13,151 50,200 37,451-90,7501 74,901-151,20 50,201-129.600 ||129.601-209,850 37,451-75,600 ーー 751-189,300|151,201ー230,450|75,601-115.225...
Problem 2-25 The Benjamin family had wage earnings of $198,000 in 2015. They received interest of $4,500 on corporate bonds and $1,500 on bonds issued by the state. Their dividend income was $500, and they had a $1,000 long-term capital gain on the sale of securities. They paid real estate taxes of $1,450 and state income tax of $3,000, and they donated $550 to their church. They paid interest of $8,000 on their home mortgage. They have one dependent child...
Mary Jarvis is a single individual who is working on filing her
tax return for the previous year. She has assembled the following
relevant information:
She received $70,000 in
salary.
She received $12,000 of
dividend income.
She received $8,300 of
interest income on Home Depot bonds.
She received $22,000 from the
sale of Disney stock that was purchased 2 years prior to the sale
at a cost of $6,500.
She received $11,500 from the
sale of Google stock that was...
Mary Jarvis is a single individual who is working on filing her
tax return for the previous year. She has assembled the following
relevant information:
She received $94,000 in salary.
She received $15,000 of dividend income.
She received $6,200 of interest income on Home Depot
bonds.
She received $23,000 from the sale of Disney stock that was
purchased 2 years prior to the sale at a cost of $6,100.
She received $11,500 from the sale of Google stock that was...
PERSONAL TAXES Susan and Stan Britton are a married couple who file a joint income tax return, where the tax rates are based on the tax table 3.5. Assume that their taxable income this year was $295,000. Round your answers to two decimal places. a. What is their federal tax liability? b. What is their marginal tax rate? 0 0 c. What is their average tax rate? 0 0 Table 3.5 2015 Individual Tax Rates Single Individuals Average Tax You...
PLEASEEEEEE someone
help!! I have posted four times now.
Mary Jarvis is a
single individual who is working on filing her tax return for the
previous year. She has assembled the following relevant
information:
She received $70,000 in
salary.
She received $12,000 of
dividend income.
She received $8,300 of
interest income on Home Depot bonds.
She received $22,000 from the
sale of Disney stock that was purchased 2 years prior to the sale
at a cost of $6,500.
She received...
2. Taxes paid for a gliven income level to do her taxes. She is single and lives in San Francisco. Beth earned $110,000 in taxable income in 2015. She reviews the following table, which shows the IRS tax rates for a single taxpayer in 2015 The Tax Rate Is... (Percent) 10.0 15.0 25.0 28.0 3.0 35.0 39.6 On Annual Taxable Income... Up to $9,225 From $9,225 80 537,450 From $37,450 to $90,750 From $90,750 to $189,300 From $189,300 to $411,500...
Excel Online Structured Activity: Personal taxes Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information: • She received $124,000 in salary. • She received $19,000 of dividend income. • She received $4,900 of interest income on Home Depot bonds. • She received $21,000 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $6,300. •...
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