Homework Answers
Tax Liability = 9075*10% + 27825*15% + 52,450*25% + 5885*28%
= $19,841.55
i.e. $19,842
Marginal tax rate is the rate applicable on one dollar of additional income
= 28%
Average rate = Total Tax/Total income
= 19842/95235
= 20.83%
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2. Calculating tax liabilities Calculating Taxable income Rate 10.0% 15.0% 25.0% Taxable income $1 - 59,075...
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Please answer questions that I filled in also. Thank you. Calculating Taxable Income Rate Taxable income...
Please answer questions that I filled in also. Thank
you.
Calculating Taxable Income Rate Taxable income $1 - $9,075 $9,076 - $36,900 $36,901 - $89,350 $89,351 - $186,350 $186,351 - $405,100 $405,101 - $406,750 Over $406,751 10.0% 15.0% 25.0% 28.0% 33.0% 35.0% 9.6% Using the tax table shown at the left, compute the tax liability for each individual in the scenarios presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax...
2. Calculating tax liabilities Calculating Taxable Income Rate Taxable income $1 - $9,075 $9,076 - $36,900...
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2. Calculating tax llabilities Calculating Taxable Income Taxable income $1 $9,075 $9,076-$36,900 $36,901-$89,350 $89,351-$186,350 $186,351-$405,100 $405,101-$406,750...
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DROP DOWN OPTIONS 1. (28%,19.50%,25%) 2. (19.50%, 20.80%,29.20) 3. (25%, 15%,16.67%) 4. (16.67%, 29.20%, 18.15% 2. Calc...
DROP DOWN OPTIONS
1. (28%,19.50%,25%)
2. (19.50%, 20.80%,29.20)
3. (25%, 15%,16.67%)
4. (16.67%, 29.20%, 18.15%
2. Calculating tax liabilities Calculating Taxable Income Taxable income Rate $1 $9,075 10.0% $9,076-$36,900 15.0% 25.0% $36,901-$89,350 $89,351 _ $186,350 28.0% $186,351-$405,100 33.0% $405,101-$406,750 35.0% 39.6% Over $406,751 Using the previous tax table, compute the tax liability for each individual in the scenarios presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average...
Given the following Federal Tax Table, find the taxes for an individual in contrast to a...
Given the following Federal Tax Table, find the taxes for an individual in contrast to a couple making a taxable income of $100,000. What is the average tax rate for each? FEDERAL PERSONAL INCOME TAXES (2014) ON TAXABLE INCOME Marginal Tax Rate Single Married 10.00% $0 - $9,075 $0 - $18,150 15.00% $9,076 - $36,900 $18,151 - $73,800 25.00% $36,901 - $89,350 $73,801 - $148,850 28.00% $89,351 - $186,350 $148,851 - $226,850 33.00% $186,351 - $405,100 $226,851 - $405,100 35.00%...
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2019 tax rate schedule Campbell, a single taxpayer, earns $302,000 in taxable income and $6,800 in...
2019 tax rate schedule
Campbell, a single taxpayer, earns $302,000 in taxable income and $6,800 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule). Required: a. If Campbell earns an additional $21,000 of taxable income, what is her marginal tax rate on this income? b. What is her marginal rate if, instead, she had $21,000 of additional deductions? (For all requirements, do not round intermediate calculations.) % a. b. Marginal tax rate...
please show all work 4. Calculating Taxes The Alexander Co. had $328,500 in taxable income. Using...
please show all work
4. Calculating Taxes The Alexander Co. had $328,500 in taxable income. Using the rates from Table 2.3 in the chapter, calculate the company's income taxes. What is the average tax rate? What is the marginal tax rate? TAX RATE 15% 25 34 39 TAXABLE INCOME 0-50,000 50,001-75,000 75,001-100,000 100,001-335,000 335,001-10,000,000 10,000,001-15,000,000 15,000,001-18,333,333 34 35 38 35 18,333,334+
2. Calculating tax liabilities Calculating Taxable Income Rate 10.0% 15.0% Taxable income $1 - $9,075 $9,076 - $36,900 $36,901 - $89,350 $89,351 - $186,350 $186,351 - $405,100 $405,101 – $406,750 Over $406,751 25.0% 28.0% 33.0% 35.0% 39.6% Using the previous tax table, compute the tax liability for each individual in the scenarios presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for both Jen and...
Please answer questions that I filled in also. Thank
you.
Calculating Taxable Income Rate Taxable income $1 - $9,075 $9,076 - $36,900 $36,901 - $89,350 $89,351 - $186,350 $186,351 - $405,100 $405,101 - $406,750 Over $406,751 10.0% 15.0% 25.0% 28.0% 33.0% 35.0% 9.6% Using the tax table shown at the left, compute the tax liability for each individual in the scenarios presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax...
2. Calculating tax liabilities Calculating Taxable Income Rate Taxable income $1 - $9,075 $9,076 - $36,900 $36,901 - $89,350 $89,351 - $186,350 $186,351 - $405,100 $405,101 - $406,750 Over $406,751 10.0% 15.0% 25.0% 28.0% 35.0% 39.6% Using the previous tax table, compute the tax liability for each individual in the scenarios presented, rounding the ability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for both Chloe and Clark....
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DROP DOWN OPTIONS
1. (28%,19.50%,25%)
2. (19.50%, 20.80%,29.20)
3. (25%, 15%,16.67%)
4. (16.67%, 29.20%, 18.15%
2. Calculating tax liabilities Calculating Taxable Income Taxable income Rate $1 $9,075 10.0% $9,076-$36,900 15.0% 25.0% $36,901-$89,350 $89,351 _ $186,350 28.0% $186,351-$405,100 33.0% $405,101-$406,750 35.0% 39.6% Over $406,751 Using the previous tax table, compute the tax liability for each individual in the scenarios presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average...
Given the following Federal Tax Table, find the taxes for an individual in contrast to a couple making a taxable income of $100,000. What is the average tax rate for each? FEDERAL PERSONAL INCOME TAXES (2014) ON TAXABLE INCOME Marginal Tax Rate Single Married 10.00% $0 - $9,075 $0 - $18,150 15.00% $9,076 - $36,900 $18,151 - $73,800 25.00% $36,901 - $89,350 $73,801 - $148,850 28.00% $89,351 - $186,350 $148,851 - $226,850 33.00% $186,351 - $405,100 $226,851 - $405,100 35.00%...
Tax rate Taxable income $0-$9,075 $9,076-$36.900 $36.901-$89,350 $89,351-$186,350 $186,351-$405,100 $405,101-$406,750 Over $406,750 10% 15% 25% 28% 33% 35% 39.6% 10% 15% 25% 28% 33% 35% 39.6% $0 $9,075 $36,900 $89,350 $186,350 $405,101 $406,750 Taxable income The Williams household's annual income is $188000. Based on the U.S.federal tax rates below, what is the average tax rate for the Williams household? (Assume zero tax deductions for solving this problem.) Choose one: O A. 33% O B.22.22% OC. 24.0096 O D. 45%
2019 tax rate schedule
Campbell, a single taxpayer, earns $302,000 in taxable income and $6,800 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule). Required: a. If Campbell earns an additional $21,000 of taxable income, what is her marginal tax rate on this income? b. What is her marginal rate if, instead, she had $21,000 of additional deductions? (For all requirements, do not round intermediate calculations.) % a. b. Marginal tax rate...
please show all work
4. Calculating Taxes The Alexander Co. had $328,500 in taxable income. Using the rates from Table 2.3 in the chapter, calculate the company's income taxes. What is the average tax rate? What is the marginal tax rate? TAX RATE 15% 25 34 39 TAXABLE INCOME 0-50,000 50,001-75,000 75,001-100,000 100,001-335,000 335,001-10,000,000 10,000,001-15,000,000 15,000,001-18,333,333 34 35 38 35 18,333,334+
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