Homework Answers
Year 2019:
John and Mary,Filling Jointly
Taxable Income = $55,000
Tax Liability = ($19,400 * 10%) + [($55,000 - $19,400) * 12%]
= $1,940 + $4,272
= $6,212
Brian , Single
Taxable Income = $40,000
Tax Liability = ($9,700 * 10%) + [($39,475 - $9,700) * 12%] + [($40,000 - $39,475) * 22%]
= $970 + $3,573 + $115.5
= $4,658.5 OR $4,659
Paula, Head of Household
Taxable Income = $67,000
Tax liability = ($13,850 * 10%) + [($52,850 - $13,850) * 12%] + [($67,000 - $52,850) * 22%]
= $1,385 + $4,680 + $3,113
= $9,178
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following situations: (Do not round intermediate
calculations. Round your answers to 2 decimal
places.)
a. A head of household with taxable income of
$55,000.
b. A single person with taxable income of
$35,000.
c. Married taxpayers filing jointly with
taxable income of $72,000.
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1.
2.
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