8.) Gurpreet reported a taxable income of $96,590 on his 2015 income tax return. How much...

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8.) Gurpreet reported a taxable income of $96,590 on his 2015 income tax return. How much federal income tax should he report

business accounting

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Answer 1

Answer #1

Ans :

$ 20,217.25

1)I'am assuming she is single.

2) Taxable Income : $ 96,590

3) Tax Bracket:

28% $90,751 to $189,300 = $ 18,481.25 +28% of the amount over $ 90,750

4) Tax Liability:

= $ 18,481.25 + ($96,950 - $ 90,750 × 28%)

= $ 18,481.25 + ( $ 6200 ×28%)

= $ 18,481.25 + $ 1736

= $ 20,217.25

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Answer 2

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8.) Gurpreet reported a taxable income of $96,590 on his 2015 income tax return. How much...

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