Question

1)    Calculate the tax liability of a single taxpayer who has a gross income of $44,500.  (Hint use Table 4-2, and DO NOT forget to subtract the value of the standard deduction and one exemption)

 

2)    What would be the marginal tax rate for a single person who has a taxable income of:

$42,410, $48,750, $58,250 and $92,000 (Hint use table 4-2) This will be a percentage.  Take the percentage directly from the table.

 

3)    Find the tax liabilities based on the taxable income of the following people:

A married couple $74,175, married couple $53,100, single person $30,000, single person $59,000 (Hint use table 4-3) This will be the tax amount.  Take the tax amount directly from the table.

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Answer 1