2018 Tax Rate Schedules Schedule X Single Schedule 2 Head of Hasehold If tasable income i...
2018 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $ 9.525 10% of taxable income $ 9,525 $ 38,700 5952.50 plus 12% of the excess over $9,525 $ 38,700 $ 82,500 $4,453.50 plus 22% of the excess over $38,700 $ 82,500 $157,500 $14.089.50 plus 24% of the excess over $82,500 $157,500 $200,000 $32.089.50 plus 32% of the excess over $157,500 $200,000 $500,000 $45.689 50 plus 35% of the excess...
2018 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $ 9.525 10% of taxable income $ 9,525 $ 38,700 5952.50 plus 12% of the excess over $9,525 $ 38,700 $ 82,500 $4,453.50 plus 22% of the excess over $38,700 $ 82,500 $157,500 $14.089.50 plus 24% of the excess over $82,500 $157,500 $200,000 $32.089.50 plus 32% of the excess over $157,500 $200,000 $500,000 $45.689 50 plus 35% of the excess...
2018 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is $ 9,525 10% of taxable income $ 9,525 $ 38,700 S 82,500 $952.50 plus 12 % of the excess over $9,525 38,700 S S2,500 $4,453.50 plus 22% of the excess over $38,700 $14,089.50 plus 24% of the excess over $82,500 $157,500 $32,089.50 plus 32% of the excess over $157,500 $157,500 $200,000 $200,000 $500,000 $45,689.50 plus 35% of the excess over S200,000 $150,689.50...
Problem 1-35 (LO 1-3) Chuck, a single taxpayer, earns $75,250 in taxable income and $26,250 in interest from an investment in City of Heflin bonds. (Use the U.S. 2018 tax rate schedule.) Required: If Chuck earns an additional $64,000 of taxable income, what is his marginal tax rate on this income? What is his marginal rate if, instead, he had $64,000 of additional deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) 2018...
Campbell, a single taxpayer, earns $281,000 in taxable income and $5,600 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 $19,500 of taxable income, what is her marginal tax rate on this Income? b. What Is her marginal rate if, Instead, she had $19,500 of additional deductions? For all requirements, do not round Intermediate calculations.) a. b. Marginal tax rate Marginal tax rate 2018 Tax...
Geronimo files his tax return as a head of household for year 2018. If his taxable income is $225,000, what is his average tax rate? (Use Tax rate schedules) Multiple Choice 23.58% 25.51% 28.23% 35.00% None of the choices are correct. 2018 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 9,525 10% of taxable in $ 9,525 $ 38,700 $952.50 plus 12% of the excess over $9,525 $ 38,700 $...
Lacy is a single taxpayer. In 2018, her taxable income is $46,800. What is her tax liability in each of the following alternative situations? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference. (Do not round intermediate calculations. Round your answer to 2 decimal places.) a. All of her income is salary from her employer. Tax liability:$____________ b. Her $46,800 of taxable income includes $1,400 of qualified dividends. Tax liability:$____________ c. Her $46,800 of...
Campbell, a single taxpayer, earns $400,000 in taxable income and $2,000 in interest from an investment in the State of New York bonds. (Use the U.S. tax rate schedule). Required: If Campbell earns an additional $15,000 of taxable income, what is her marginal tax rate on this income? What is her marginal rate if, instead, she had $15,000 of additional deductions? 2018 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $...
Demarco and Janine Jackson have been married for 20 years and have four children who qualify as their dependents (Damarcus, Janine, Michael, and Candice). The couple received salary income of $100,000, qualified business income of $10,000 from an investment in a partnership, and they sold their home this year. They initially purchased the home three years ago for $200,000 and they sold it for $250,000. The gain on the sale qualified for the exclusion from the sale of a principal...
Jeremy earned $100,000 in salary and $6,000 in interest income during the year. Jeremy’s employer withheld $11,200 of federal income taxes from Jeremy’s paychecks during the year. Jeremy has one qualifying dependent child who lives with him. Jeremy qualifies to file as head of household and has $23,000 in itemized deductions. a. Determine Jeremy’s tax refund or taxes due. Description Amount (1) Gross income (2) For AGI deductions (3) Adjusted gross income Standard deduction (5) Itemized deductions (6) Taxable income...