Homework Answers
| Tax payable | 52525 | =45210+(225000-204100)*35% |
| Tax payable | 52525 | |
| Divide by Taxable income | 225000 | |
| Average tax rate | 23.34% | |
| Option A is correct |
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Geronimo files his tax return as a head of household for year 2019. If his taxable...
Geronimo files his tax return as a head of household for year 2019. If his taxable...
Geronimo files his tax return as a head of household for year 2019. If his taxable income is $72,000, what is his average tax rate (rounded)? (Use tax rate schedule.)
Geronimo files his tax return as a head of household for year 2018. If his taxable...
Geronimo files his tax return as a head of household for year
2018. If his taxable income is $225,000, what is his average tax
rate? (Use Tax rate schedules)
Multiple Choice
23.58%
25.51%
28.23%
35.00%
None of the choices are correct.
2018 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 9,525 10% of taxable in $ 9,525 $ 38,700 $952.50 plus 12% of the excess over $9,525 $ 38,700 $...
Angelena files as a head of household. In 2019, she reported $54,250 of taxable income, including...
Angelena files as a head of household. In 2019, she reported $54,250 of taxable income, including a $12,400 qualified dividend. What is her gross tax liability, rounded to the nearest whole dollar amount? (Use the tax rate schedules, long-term capital gains tax brackets)
In 2019, Ryan files as head of household and has taxable income of $122,500. None of...
In 2019, Ryan files as head of household and has taxable income of $122,500. None of his taxable income consists of capital gains or qualified dividends. Using the tax rate schedule, his tax liability totals $ (rounded to the nearest dollar).
Angelena files as a head of household. In 2018, she reported $54,100 of taxable income, including...
Angelena files as a head of household. In 2018, she reported $54,100 of taxable income, including a $15,400 qualified dividend. What is her gross tax liability, rounded to the nearest whole dollar amount? (Use the tax rate schedules.)
Angelena files as a head of household. In 2019, she reported $53,750 of taxable income, including...
Angelena files as a head of household. In 2019, she reported $53,750 of taxable income, including a $10,900 qualified dividend. What is her gross tax liability, rounded to the nearest whole dollar amount?
Leonardo, who is married but files separately, earns $95,000 of taxable income. He also has $8,000...
Leonardo, who is married but files separately, earns $95,000 of taxable income. He also has $8,000 in city of Tulsa bonds. His wife, Theresa, earns $36,000 of taxable income If Leonardo earned an additional $24,000 of taxable income this year, what would be the marginal tax rate on the extra income for 2019? (Use tax rate schedules Multiple Choice 1909 percent None of the choices are correct 2228 percent
Heather, a single taxpayer who files as a head of household, earns $62,100 in taxable income...
Heather, a single taxpayer who files as a head of household, earns $62,100 in taxable income and $15,500 in interest from an investment in city of Oxford Bonds. Using the U.S. tax rate schedule for year 2019, how much federal tax will she owe? What is her average tax rate? What is her effective tax rate? What is her current marginal tax rate? If Heather has an additional $41,000 of tax deductions, what is her marginal tax rate on these...
Leonardo, who is married but files separately, earns $170,000 of taxable income. He also has $22,250...
Leonardo, who is married but files separately, earns $170,000 of taxable income. He also has $22,250 in city of Tulsa bonds. His wife, Theresa, earns $64,500 of taxable income. If Leonardo earned an additional $90,500 of taxable income this year, what would be the marginal tax rate on the extra income for 2019? (Use tax rate schedules) Multiple Choice 32.15 percent 28.96 percent 28.96 percent 2015 norront o 32.15 percent o 28.96 percent o 34.15 percent o 33.87 percent o...
2019 Tax Rate Schedules Single-Schedule X Head of household—Schedule Z If taxable of the If taxable...
2019 Tax Rate Schedules Single-Schedule X Head of household—Schedule Z If taxable of the If taxable income is: But not amount income is: But not Over- over- The tax is: over Over- over- The tax is: $ 0 $ 9,700 ......... 10% $ 0 $ 13,850 ......... 10% 9,700 39,475 $ 970.00 + 12% 9,700 13,850 52,850 $ 1,385.00 + 12% 39,475 84,200 4,543.00 + 22% 39,475 52,850 84,200 6,065.00 + 22% 84,200 160,725 14,382.50 +24% 84,200 84,200 160,700 12,962.00...
Geronimo files his tax return as a head of household for year
2018. If his taxable income is $225,000, what is his average tax
rate? (Use Tax rate schedules)
Multiple Choice
23.58%
25.51%
28.23%
35.00%
None of the choices are correct.
2018 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 9,525 10% of taxable in $ 9,525 $ 38,700 $952.50 plus 12% of the excess over $9,525 $ 38,700 $...
In 2019, Ryan files as head of household and has taxable income of $122,500. None of his taxable income consists of capital gains or qualified dividends. Using the tax rate schedule, his tax liability totals $ (rounded to the nearest dollar).
Leonardo, who is married but files separately, earns $95,000 of taxable income. He also has $8,000 in city of Tulsa bonds. His wife, Theresa, earns $36,000 of taxable income If Leonardo earned an additional $24,000 of taxable income this year, what would be the marginal tax rate on the extra income for 2019? (Use tax rate schedules Multiple Choice 1909 percent None of the choices are correct 2228 percent
Leonardo, who is married but files separately, earns $170,000 of taxable income. He also has $22,250 in city of Tulsa bonds. His wife, Theresa, earns $64,500 of taxable income. If Leonardo earned an additional $90,500 of taxable income this year, what would be the marginal tax rate on the extra income for 2019? (Use tax rate schedules) Multiple Choice 32.15 percent 28.96 percent 28.96 percent 2015 norront o 32.15 percent o 28.96 percent o 34.15 percent o 33.87 percent o...
2019 Tax Rate Schedules Single-Schedule X Head of household—Schedule Z If taxable of the If taxable income is: But not amount income is: But not Over- over- The tax is: over Over- over- The tax is: $ 0 $ 9,700 ......... 10% $ 0 $ 13,850 ......... 10% 9,700 39,475 $ 970.00 + 12% 9,700 13,850 52,850 $ 1,385.00 + 12% 39,475 84,200 4,543.00 + 22% 39,475 52,850 84,200 6,065.00 + 22% 84,200 160,725 14,382.50 +24% 84,200 84,200 160,700 12,962.00...
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