Can you help me understand and solve this please?
When I look up how to solve it or even try to solve it the numbers
do not make sense.
Taxable Income = $57,000
Look at the Head of household column".
Income Tax Payable = 10% of 12",750 + 15% of (48,600-12,750) + 25% of (57,000 - 48,600) = 8,752.50
Tax Credit = $6 8,000
Hence, Tax Owed = Tax Payable - Tax Credit = 8,752.50 - $8,000 = $ 752.50
Can you help me understand and solve this please? When I look up how to solve...
Paul is a head of household with a taxable income sehold with a taxable income of $110,000. He is entitled to a $8000 tax credit. Compute his tax owed using the table below. The tax owed is $ . (Type an integer or a de Head of Tax Rate Single Household 10% up to $8,925 up to $12,750 15% up to $36,250 up to $48,600 25% up to $87,850 up to $125,450 28% up to $183,250 up to $203,150 33%...
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Can you help me solve this please?
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Use the marginal tax rates in the table below to compute the tax owed in the following situation. Sarah is married filing separately with a taxable income of $67,400. Tax Rate Single Married Filing Separately 10% up to $8,925 up to $8,925 15% up to $36,250 up to $36,250 25% up to $87,850 up to $73,200 28% up to $183,250 up to $111,525 33% up to $398,350 up to $199,175 35% up to $400,000 up to $400,000 standard deduction $6100...
I have put the numbers in the calculator and keep coming up with
the wrong answer. Do you think that you could help me solve this,
but show me the right way to calculate the equation?
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I need help understanding and solving this please.
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