Homework Answers
| The marginal tax rate is the tax rate on the next dollar of income earned. | ||||
| CHLOE'S INCOME | 94235 | |||
| CHLOE's tax liability | 9075*.10 + 27825*.15 + 52450*.25 + 4885*.28 | |||
| CHLOE's tax liability | 19561.55 | |||
| CHLOE's average tax rate | 19561.55/94235 | |||
| CHLOE's average tax rate | 20.76% | |||
| CHLOE's tax liability | $19561.55 | |||
| CHLOE's marginal tax rate | 28% | |||
| CHLOE's average tax rate | 20.76% | |||
| CLARK'S INCOME | 62000 | |||
| CLARK's tax liability | 9075*.10 + 27825*.15 + 25100*.25 | |||
| CLARK's tax liability | 11356.25 | |||
| CLARK's average tax rate | 11356.25/62000 | |||
| CLARK's average tax rate | 18.32% | |||
| CLARK's tax liability | $11356.25 | |||
| CLARK's marginal tax rate | 25% | |||
| CLARK's average tax rate | 18.32% |
Add Answer to:
2. Calculating tax liabilities Calculating Taxable Income Rate Taxable income $1 - $9,075 $9,076 - $36,900...
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...
2. Calculating tax liabilities Calculating Taxable income Rate 10.0% 15.0% 25.0% Taxable income $1 - 59,075...
2. Calculating tax liabilities Calculating Taxable income Rate 10.0% 15.0% 25.0% Taxable income $1 - 59,075 $9,076 - $36,900 $36,901 - $89,350 $89,351 - $186,350 $186,351 - $405,100 $405,101 - $406,750 Over $406,751 28.0% 33.0% 35.0% 39.6% Using the previous tax table, compute the tax Mability for each individual in the scenarios presented, rounding the ability to the nearest dollar. In addition, use the dropdown fists to identify the marginal tax rate and average tax rate for both Jen and...
2. Calculating tax liabilities Calculating Taxable Income Rate 10.0% 15.0% Taxable income $1 - $9,075 $9,076...
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...
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...
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 Over $406,751 Rate 10.0% 15.0% 25.0% 28.0% 33.0% 35.0% 39.6% 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 rate and average tax rate for both Tracy and Ben. Tracy's Tax Scenario Tracy is a young...
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...
Calculating Taxable Income Taxable income Rate $0 — $9,525 10.0% $9,526 — $38,700 12.0% $38,701 —...
Calculating Taxable Income Taxable income Rate $0 — $9,525 10.0% $9,526 — $38,700 12.0% $38,701 — $82,500 22.0% $82,501 — $157,500 24.0% $157,501 — $200,000 32.0% $200,001 — $500,000 35.0% $500,001 or more 37% Using the previous tax table, compute the tax liability for the individual in the scenario 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 the individual in the scenario. Edison’s...
Income = $30,000 Income = $100,000 Income = $400,000 Tax Schedule Taxable Marginal Taxable Taxable Tax...
Income = $30,000 Income = $100,000 Income = $400,000 Tax Schedule Taxable Marginal Taxable Taxable Tax liability income Tax liability Income Income Range Income Rate Tax liability o 10 00 0 %|| 10,000| 0| 10,000 oll 10.000 10,000 20,000 10% 1000 10,000 20,000 40,000 15% 1500 10,000 40,000/ 80,000 20% O 80,000 160,000 30% 0 0 160,000 320,000 35% 0 0 320,000 + 40% 0 Total Liability Total Liability Total Liability Average Tax Rate Average Tax Rate Average Tax Rate
Using the 2020 corporate tax rate What are the tax liability, the marginal tax rate, and...
Using the 2020 corporate tax rate What are the tax liability, the marginal tax rate, and the average tax rate for a corporation with $248,300 taxable income? What are the tax liability, the marginal tax rate, and the average tax rate for a corporation with $39,253,000 taxable income?
Chee Problem 1-48 (LO 1-2, 1-4) Determine the tax liability, marginal tax rate, and average tax rate in each of the...
Chee Problem 1-48 (LO 1-2, 1-4) Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases Use the appropriate Tax Tables and Tax Rate Schedules. ed a. Married taxpayers, who file a joint return, have taxable income of $30,211. b. Single taxpayer, has taxable income of $97,510 (Use the tax tables to compute tax liability. For all requirements, round "Average tax rate" to 2 decimal places.) ok Average tax rate Marginal tax rate...
Here's the additional Information: Tax Table: Single Tax payer for Taxable income of $30,490 at Least...
Here's the additional Information:
Tax Table:
Single Tax payer for Taxable income of $30,490 at Least $30,450
but less than $30,500 Your Tax is $3,467.
Single Tax Payer for Taxable income of $80,938 at least $80,900
but Less than $80,950 The Tax is $13,743
Tax Rate Schedule:
Single Tax Payer If Taxable Income is over $9,525 but not over
$38,700 The Tax is $952.50 plus 12% of the excess over $9.525
Single Tax Payer if taxable income is over $38,700...
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...
2. Calculating tax liabilities Calculating Taxable income Rate 10.0% 15.0% 25.0% Taxable income $1 - 59,075 $9,076 - $36,900 $36,901 - $89,350 $89,351 - $186,350 $186,351 - $405,100 $405,101 - $406,750 Over $406,751 28.0% 33.0% 35.0% 39.6% Using the previous tax table, compute the tax Mability for each individual in the scenarios presented, rounding the ability to the nearest dollar. In addition, use the dropdown fists to identify the marginal tax rate and average tax rate for both Jen and...
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...
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 Over $406,751 Rate 10.0% 15.0% 25.0% 28.0% 33.0% 35.0% 39.6% 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 rate and average tax rate for both Tracy and Ben. Tracy's Tax Scenario Tracy is a young...
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...
Income = $30,000 Income = $100,000 Income = $400,000 Tax Schedule Taxable Marginal Taxable Taxable Tax liability income Tax liability Income Income Range Income Rate Tax liability o 10 00 0 %|| 10,000| 0| 10,000 oll 10.000 10,000 20,000 10% 1000 10,000 20,000 40,000 15% 1500 10,000 40,000/ 80,000 20% O 80,000 160,000 30% 0 0 160,000 320,000 35% 0 0 320,000 + 40% 0 Total Liability Total Liability Total Liability Average Tax Rate Average Tax Rate Average Tax Rate
Chee Problem 1-48 (LO 1-2, 1-4) Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases Use the appropriate Tax Tables and Tax Rate Schedules. ed a. Married taxpayers, who file a joint return, have taxable income of $30,211. b. Single taxpayer, has taxable income of $97,510 (Use the tax tables to compute tax liability. For all requirements, round "Average tax rate" to 2 decimal places.) ok Average tax rate Marginal tax rate...
Here's the additional Information:
Tax Table:
Single Tax payer for Taxable income of $30,490 at Least $30,450
but less than $30,500 Your Tax is $3,467.
Single Tax Payer for Taxable income of $80,938 at least $80,900
but Less than $80,950 The Tax is $13,743
Tax Rate Schedule:
Single Tax Payer If Taxable Income is over $9,525 but not over
$38,700 The Tax is $952.50 plus 12% of the excess over $9.525
Single Tax Payer if taxable income is over $38,700...
Most questions answered within 3 hours.
-
Twitter Users and News: A poll conducted in 2013 found that 52%
of U.S. adult Twitter...
asked 10 minutes ago -
How
would I know whether a given amino acid has an ionizable group or
not? please...
asked 18 minutes ago -
True or false?
True False The function of the enzyme acyl CoA
synthetase is the ATP-dependent coupling...
asked 18 minutes ago -
Nadia Corporation adjusts its debt so that its interest coverage
(EBIT/Interest) remains constant at 3. Nadia’s...
asked 20 minutes ago -
In a clinical trial, 20 out of 600 patients taking a
prescription drug complained of flulike...
asked 26 minutes ago -
7. How many types of nuclear processes can produce energy? 8.
How many types of radioactive...
asked 30 minutes ago -
For both the Sn2 and Sn1 reaction
conditions:
Structure | Rxn (Y/N) at room T° Rxn...
asked 31 minutes ago -
11. In cell N2, enter a formula using the IF function and a
structured reference to...
asked 30 minutes ago -
There is X-linked mutations in flies in this example. You need
to determine the inheritence pattern...
asked 33 minutes ago -
1) There is a 5.0 μC charge at each of 3 corners of a square
(each...
asked 44 minutes ago -
A study of 420,095 cell phone users found that
134 of them developed cancer of the...
asked 47 minutes ago -
2.50 g of NH4Cl is added to 12.9 g of water. Calculate the
molality of the...
asked 50 minutes ago