Question

Saved Refer to the individual rate schedules in Appendix C. a. What are the tax x lability, the marginal tax rate, and the average tax rate for a married couple filing jointly with $54,900 taxable income? b. What are the tax liability, the marginal tax rate, and the average tax rate for a single individual with $198.700 taxable income? c. What are the tax liability, the marginal tax rate, and the average tax rate for a head of household with $449,300 taxable income? Complete this question by entering your answers in the tabs below. Required ARequired B Required C What are the tax liability, the marginal tax rate, and the average tax rate for a married couple filing jointly with $54,900 taxable income? (Round final Tax liability" to the nearest whole dollar and Average tax rate to 2 decimal places.) Tax liability Marginal tax rate Average tax rate < Requred A Required B>

Pls answer for required A, B, & C

Answer 1

Solution:-

Note:- As tax rate schedule not provided so tax rate for the year 2018 is considering for answering all parts.

Requirement A:-

			Computation
Tax liability	2,016		$1,905 + (54,900 - 19,050) * 12%
Marginal tax rate	12	%
Average tax rate	3.67	%	(2,016 / 54,900) * 100

Requirement B:-

			Computation
Tax liability	45,274		$32,089.50 + (198,700 - 157,500) * 32%
Marginal tax rate	32	%
Average tax rate	22.79	%	(45,274 / 198,700) * 100

Requirement C:-

			Computation
Tax liability	131,553		$44,298 + (449,300 - 200,000) * 35%
Marginal tax rate	35	%
Average tax rate	29.28	%	(131,553 / 449,300) * 100

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