Homework Answers
| Total Income | $295,000 | |
| Total Deductions | $20,700 | (12600 + 4050 + 4050) |
| Total Exemptions | $0 | |
| Taxable Income | $274,300 | |
| Regular Taxes | 65,930.99 | |
| Alternative Minimum Tax | $0 | |
| Net Investment Income Tax | $0 | |
| All Tax Credits | $6,000 | |
| Total Tax with Credits | $59,931 |
Tax computation
| Range | Tax Rate | Tax Amount | |
| - | 18,550.00 | 10% | 1,855.00 |
| 18,551.00 | 75,300.00 | 15% | 8,512.35 |
| 75,301.00 | 151,900.00 | 25% | 19,149.75 |
| 151,901.00 | 231,450.00 | 28% | 22,273.72 |
| 231,451.00 | 274,300.00 | 33% | 14,140.17 |
| 65,930.99 |
Add Answer to:
A married couple filing jointly with a taxable income of
$295,000 and a $6000 tax credit...
this is the question TABLE 8.1 2016 Marginal Tax Rates. Standard Deductions, and Exemptions Daftarit, Married...
this is the question
TABLE 8.1 2016 Marginal Tax Rates. Standard Deductions, and Exemptions Daftarit, Married and Back dimarad, Partners legally served separate tax retur Married and the the Partners file single tak return Verarried and paying More than half the out of Supporting the partiet Married Filing Separately Tax Rate Single up to $9275 up to $9275 10% 15% 25% $9276 to $37,650 $37.651 to $91.150 $91.151 to $190,150 $190.151 to $413,350 $413,351 to $415.050 more than $415,050 28%...
X 8.2.11 2016 Marginal Tax Rates Use the 2016 marginal tax rates to compute the tax...
X 8.2.11 2016 Marginal Tax Rates Use the 2016 marginal tax rates to compute the tax owed by the following couple A married couple fling jointly with a taxable income of $300,000 and a $7500 tax credit Click the icon to view the 2016 marginal tax rates The tax owed is (Type an integer or a decimal Round to the nearest cent as needed) Tax Rate 10% 15% 255 28 Unmarried, divorced, Married and each partner Married and both Unmarried...
What would be the marginal and average tax rates for a married couple with taxable income...
What would be the marginal and average tax rates for a married
couple with taxable income of $90,000? For an unmarried taxpayer
with the same income? Use Table 3.7. (Do not round
intermediate calculations. Enter the marginal tax rate as a percent
rounded to 1 decimal place. Enter the average tax rate as a percent
rounded to 1 decimal place.)
a. What would be the marginal tax rate for a
married couple with income of $90,000?
b. What would be...
his Question: 1 pl 8 of 14 (5 complete) Ise the 2016 marginal tax rates to...
his Question: 1 pl 8 of 14 (5 complete) Ise the 2016 marginal tax rates to compute the income tax owed by the following person Unmarried head of household with two dependent children Gross income: $68,000 Adjustments: none Deductions: 53431 state taxes 52000 theft loss 0 2016 Marginal Tax Rates Tax credit: 53000 Click the icon to view the 2016 marginal tax rates The income tax owed is (Type an integer or a decimal. Round to the nearest ca Tax...
Use Tax Rate Schedule Carson Wentz, of Philadelphia, determined the following tax information: salary, $163,000; interest...
Use Tax Rate Schedule Carson Wentz, of Philadelphia, determined
the following tax information: salary, $163,000; interest earned,
$2,000; qualified retirement plan contribution, $4,000; personal
exemption, $4,050; itemized deductions, $11,000. Filing single,
calculate Carson's taxable income and tax liability. (Hint: Use
Table 4-2.) Round your answer for tax liability to the nearest
cent.
Table 4-2 Tax Rate Schedules DO IT IN CLASS Single Individuals If taxable income is over- 0 But not over- $ 9,275 $ 37,650 $ 91,150 $190,150 $413,350...
Jared Goff, of Los Angeles, determined the following tax information: gross salary, $120,000; interest earned, $2,000;...
Jared Goff, of Los Angeles, determined the following tax
information: gross salary, $120,000; interest earned, $2,000; IRA
contribution, $4,000; personal exemption, $4,050; and itemized
deductions, $8,000. Calculate Jared’s taxable income and tax
liability filing single. (Hint: Use Table 4-2.) Round your answer
for taxable income to the nearest dollar and answer for tax
liability to the nearest cent.
Table 4-2 Tax Rate Schedules DO IT IN CLASS Single Individuals If taxable income is over- 0 But not over- $ 9,275...
The following table shows the U.S. rates of personal tax as of year 2016, and these...
The following table shows the U.S. rates of personal tax as of year 2016, and these tax rates presented in this table are marginal tax rates, Single Taxpayers Married Taxpayers Filing Joint Returns Tax Rate (%) 0-$9.275 0-$18,550 10.0 $9,276-$37,650 $18,551-$75,300 15.0 $37,651-$91,150 $75,301-$151,900 25.0 $91,151-$190,150 $151,901-$231,450 128.0 $190,151-$413,350 $231,451-$413,350 33.0 $413,351-$415,050 $413,351-$466,950 35.0 $415,051 and above $466,951 and above 39.6 Based on this table, answering the following questions: (Please show your intermediate processes, instead of just a final number...
The following table shows the U.S. rates of personal tax as of year 2016, and these...
The following table shows the U.S. rates of personal tax as of year 2016, and these tax rates presented in this table are marginal tax rates. Single Taxpayers Married Taxpayers Filing Joint Returns Tax Rate (%) 0-$9.275 0-$18,550 10.0 $9,276-$37,650 $18,551-$75,300 15.0 $37,651-$91150 $75,301-$151,900 25.0 $91151-$190.150 $151,901-$231,450 28.0 $190,151-$413,350 $231.451-$413,350 33.0 $413,351-$415,050 $413,351-$466,950 35.0 $415,051 and above $466.951 and above 39.6 Based on this table, answering the following questions: (Please show your intermediate processes. Instead of just a final number...
I am filling an 1040 and need find the information for line 44 (the tax using...
I am filling an 1040 and need find the information for line 44
(the tax using the tax rate schedule). It is for someone filling as
singe with a taxable income of 63743. Can someone please help me?
attatched is the tax rate schedule needed to solve it but i do not
understand how to use it.
2016 Federal Tax Rate Schedule Schedule X-Single Schedule Z-Head of Household If taxable income is over If taxable income is over. But not...
Sul Help Save & Exit I The following table shows the U.S.rates of personal tax as...
Sul Help Save & Exit I The following table shows the U.S.rates of personal tax as of year 2016, and these tax rates presented in this table are marginal tax rates. Single Taxpayers Married Taxpayers Filing Joint Returns Tax Rate (1) 0-$9,275 0-$18,550 10.0 $9,276-$37,650 $18,551-$75,300 15.0 $37,651-$91,150 $75,301-$151.900 25.0 $91,151-$190,150 $151,901-$231.450 28.0 $190.151-$413,350 $231451-$413,350 33.0 $413,351-$415,050 $413,351-$466,950 35.0 $415,051 and above $466.951 and above 39.6 Based on this table, answering the following questions: (Please show your intermediate processes, instead...
this is the question
TABLE 8.1 2016 Marginal Tax Rates. Standard Deductions, and Exemptions Daftarit, Married and Back dimarad, Partners legally served separate tax retur Married and the the Partners file single tak return Verarried and paying More than half the out of Supporting the partiet Married Filing Separately Tax Rate Single up to $9275 up to $9275 10% 15% 25% $9276 to $37,650 $37.651 to $91.150 $91.151 to $190,150 $190.151 to $413,350 $413,351 to $415.050 more than $415,050 28%...
X 8.2.11 2016 Marginal Tax Rates Use the 2016 marginal tax rates to compute the tax owed by the following couple A married couple fling jointly with a taxable income of $300,000 and a $7500 tax credit Click the icon to view the 2016 marginal tax rates The tax owed is (Type an integer or a decimal Round to the nearest cent as needed) Tax Rate 10% 15% 255 28 Unmarried, divorced, Married and each partner Married and both Unmarried...
What would be the marginal and average tax rates for a married
couple with taxable income of $90,000? For an unmarried taxpayer
with the same income? Use Table 3.7. (Do not round
intermediate calculations. Enter the marginal tax rate as a percent
rounded to 1 decimal place. Enter the average tax rate as a percent
rounded to 1 decimal place.)
a. What would be the marginal tax rate for a
married couple with income of $90,000?
b. What would be...
his Question: 1 pl 8 of 14 (5 complete) Ise the 2016 marginal tax rates to compute the income tax owed by the following person Unmarried head of household with two dependent children Gross income: $68,000 Adjustments: none Deductions: 53431 state taxes 52000 theft loss 0 2016 Marginal Tax Rates Tax credit: 53000 Click the icon to view the 2016 marginal tax rates The income tax owed is (Type an integer or a decimal. Round to the nearest ca Tax...
Use Tax Rate Schedule Carson Wentz, of Philadelphia, determined
the following tax information: salary, $163,000; interest earned,
$2,000; qualified retirement plan contribution, $4,000; personal
exemption, $4,050; itemized deductions, $11,000. Filing single,
calculate Carson's taxable income and tax liability. (Hint: Use
Table 4-2.) Round your answer for tax liability to the nearest
cent.
Table 4-2 Tax Rate Schedules DO IT IN CLASS Single Individuals If taxable income is over- 0 But not over- $ 9,275 $ 37,650 $ 91,150 $190,150 $413,350...
Jared Goff, of Los Angeles, determined the following tax
information: gross salary, $120,000; interest earned, $2,000; IRA
contribution, $4,000; personal exemption, $4,050; and itemized
deductions, $8,000. Calculate Jared’s taxable income and tax
liability filing single. (Hint: Use Table 4-2.) Round your answer
for taxable income to the nearest dollar and answer for tax
liability to the nearest cent.
Table 4-2 Tax Rate Schedules DO IT IN CLASS Single Individuals If taxable income is over- 0 But not over- $ 9,275...
The following table shows the U.S. rates of personal tax as of year 2016, and these tax rates presented in this table are marginal tax rates, Single Taxpayers Married Taxpayers Filing Joint Returns Tax Rate (%) 0-$9.275 0-$18,550 10.0 $9,276-$37,650 $18,551-$75,300 15.0 $37,651-$91,150 $75,301-$151,900 25.0 $91,151-$190,150 $151,901-$231,450 128.0 $190,151-$413,350 $231,451-$413,350 33.0 $413,351-$415,050 $413,351-$466,950 35.0 $415,051 and above $466,951 and above 39.6 Based on this table, answering the following questions: (Please show your intermediate processes, instead of just a final number...
The following table shows the U.S. rates of personal tax as of year 2016, and these tax rates presented in this table are marginal tax rates. Single Taxpayers Married Taxpayers Filing Joint Returns Tax Rate (%) 0-$9.275 0-$18,550 10.0 $9,276-$37,650 $18,551-$75,300 15.0 $37,651-$91150 $75,301-$151,900 25.0 $91151-$190.150 $151,901-$231,450 28.0 $190,151-$413,350 $231.451-$413,350 33.0 $413,351-$415,050 $413,351-$466,950 35.0 $415,051 and above $466.951 and above 39.6 Based on this table, answering the following questions: (Please show your intermediate processes. Instead of just a final number...
I am filling an 1040 and need find the information for line 44
(the tax using the tax rate schedule). It is for someone filling as
singe with a taxable income of 63743. Can someone please help me?
attatched is the tax rate schedule needed to solve it but i do not
understand how to use it.
2016 Federal Tax Rate Schedule Schedule X-Single Schedule Z-Head of Household If taxable income is over If taxable income is over. But not...
Sul Help Save & Exit I The following table shows the U.S.rates of personal tax as of year 2016, and these tax rates presented in this table are marginal tax rates. Single Taxpayers Married Taxpayers Filing Joint Returns Tax Rate (1) 0-$9,275 0-$18,550 10.0 $9,276-$37,650 $18,551-$75,300 15.0 $37,651-$91,150 $75,301-$151.900 25.0 $91,151-$190,150 $151,901-$231.450 28.0 $190.151-$413,350 $231451-$413,350 33.0 $413,351-$415,050 $413,351-$466,950 35.0 $415,051 and above $466.951 and above 39.6 Based on this table, answering the following questions: (Please show your intermediate processes, instead...
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