Homework Answers
If someone is single and has a taxable income in between $9,701 – $39,475, he is subject to 12% tax rate.
So, the tax=12%*$17000=$2040.0
Option A is correct
Add Answer to:
Chris is single and has taxable income of $17000. What is his tax? (Round answers to...
Richard is single and has taxable income of $91,000. How much will he pay in taxes?...
Richard is single and has taxable income of $91,000. How much will he pay in taxes? (Round answers to 2 decimal places, e.g. 52.75.) Richard will pay tax of $
Cameron is single and has taxable income of $88,806. Determine his tax liability using the 2019...
Cameron is single and has taxable income of $88,806. Determine his tax liability using the 2019 tax tables and using the 2019 tax rate schedules. (Round your intermediate computations and final answers to 2 decimal places.) Tax liability using tax table: Tax liability using tax rate schedule:
Bob, single, has total income of $120,000 in 2020. His taxable income is $100,000, and his...
Bob, single, has total income of $120,000 in 2020. His taxable income is $100,000, and his tax liability is $18,079.50. Bob's average tax rate is . , and his effective tax rate is . . Bob's marginal tax rate is . . Note: Enter your answer as a decimal rounded up to three places (e.g. 23.175231% would be entered as .232 and 39% would be entered as .390). Do not enter the "%" sign.
Income tax Net investment income tax Total tax liability Henrich is a single taxpayer. In 2019,...
Income tax Net investment income tax Total tax liability Henrich is a single taxpayer. In 2019, his taxable income is $453,000. What is his income tax and net investment income tax liability in each of the following alternative scenarios? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no answer blank Enter zero if applicable.) A. His $453,000 of taxable income...
Individuals Schedule X-Single The tax is: If taxable income is over: But not over: $ 0...
Individuals Schedule X-Single The tax is: If taxable income is over: But not over: $ 0 $ 9,700 $ 9,700 $ 39,475 $ 39,475 $ 84,200 $ 84,200 $160,725 $160,725 $204,100 $204,100 $510,300 $510,300 10% of taxable income $970 plus 12% of the excess over $9,700 $4,543 plus 22% of the excess over $39,475 $14,382.50 plus 24% of the excess over $84,200 $32,748.50 plus 32% of the excess over $160,725 $46,628.50 plus 35% of the excess over $204,100 $153,798.50 plus...
Chuck, a single taxpayer, earns $80,750 in taxable income and $30,750 in interest from an investment...
Chuck, a single taxpayer, earns $80,750 in taxable income and $30,750 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) Required: If Chuck earns an additional $64,500 of taxable income, what is his marginal tax rate on this income? What is his marginal rate if, instead, he had $64,500 of additional deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.)
Chuck, a single taxpayer,earns $86,000 in taxable income and $24750 in interest from an investment in...
Chuck, a single taxpayer,earns $86,000 in taxable income and $24750 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule) Required: a. If Chuck earns an additional $41,000 of taxable income, what is his marginal tax rate on this income? b. What is his marginal rate if, instead, he had $41,000 of additional deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) a. Marginal tax rate b...
Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment...
Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) Required: If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? What is his marginal rate if, instead, he had $40,000 of additional deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) a Marginal tax rate ____% b...
Chuck, a single taxpayer, earns $79,600 in taxable income and $10,000 in interest from an investment...
Chuck, a single taxpayer, earns $79,600 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) Required: a. If Chuck earns an additional $40,540 of taxable income, what is his marginal tax rate on this income? b. What is his marginal rate if, instead, he had $40,540 of additional deductions? (For all requirements, do not round intermediate calculations. Round percentage answers to 2 decimal places.) a. % Marginal tax...
Lacy is a single taxpayer. In 2018, her taxable income is $45,600. What is her tax...
Lacy is a single taxpayer. In 2018, her taxable income is $45,600. What is her tax liability in each of the following alternative situations? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference. (Do not round intermediate calculations. Round your answer to 2 decimal places.) rev: 10_19_2018_QC_CS-143681 c. Her $45,600 of taxable income includes $15,500 of qualified dividends.
Richard is single and has taxable income of $91,000. How much will he pay in taxes? (Round answers to 2 decimal places, e.g. 52.75.) Richard will pay tax of $
Income tax Net investment income tax Total tax liability Henrich is a single taxpayer. In 2019, his taxable income is $453,000. What is his income tax and net investment income tax liability in each of the following alternative scenarios? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates, Estates and Trusts for reference. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no answer blank Enter zero if applicable.) A. His $453,000 of taxable income...
Individuals Schedule X-Single The tax is: If taxable income is over: But not over: $ 0 $ 9,700 $ 9,700 $ 39,475 $ 39,475 $ 84,200 $ 84,200 $160,725 $160,725 $204,100 $204,100 $510,300 $510,300 10% of taxable income $970 plus 12% of the excess over $9,700 $4,543 plus 22% of the excess over $39,475 $14,382.50 plus 24% of the excess over $84,200 $32,748.50 plus 32% of the excess over $160,725 $46,628.50 plus 35% of the excess over $204,100 $153,798.50 plus...
Chuck, a single taxpayer,earns $86,000 in taxable income and $24750 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule) Required: a. If Chuck earns an additional $41,000 of taxable income, what is his marginal tax rate on this income? b. What is his marginal rate if, instead, he had $41,000 of additional deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) a. Marginal tax rate b...
Chuck, a single taxpayer, earns $79,600 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) Required: a. If Chuck earns an additional $40,540 of taxable income, what is his marginal tax rate on this income? b. What is his marginal rate if, instead, he had $40,540 of additional deductions? (For all requirements, do not round intermediate calculations. Round percentage answers to 2 decimal places.) a. % Marginal tax...
Most questions answered within 3 hours.
-
Why would natural selection not minimize costs (in the form of
symptoms) of evolved defenses? (choose...
asked 6 minutes ago -
What is true about a critical task?
Latest finish time - latest start time = 0...
asked 9 minutes ago -
A company uses a
process costing system. Its Assembly Department's beginning
inventory consisted of 56,800 units,...
asked 9 minutes ago -
a
sealed glass cylinder contains 325 g of N2 gas at 1.02 atm at 20 c....
asked 13 minutes ago -
The main difference between an equity and a nonequity alliance
is that
A
equity alliances are...
asked 11 minutes ago -
Need help with this, in JAVA, using netbeans. A
complete response will receive a positive comment...
asked 20 minutes ago -
An imprest petty cash fund of $600 was established for minor
disbursements. At the end of...
asked 25 minutes ago -
Sharpe Cutter is a small company that produces specialty knives
for paper cutting machinery. The annual...
asked 29 minutes ago -
Calculating the Ka of a weak acid from
pH:
The pH of a 0.68M solution of...
asked 30 minutes ago -
1.What process is pushing back against gravity in the very
center (the core) of sun-like stars?...
asked 50 minutes ago -
This question is from the textbook "Python for ArcGIS" by Laura
Tateosian:
Write a script "triangles.py"...
asked 48 minutes ago -
Which of the following is an impediment that makes it
difficult for firms to achieve the...
asked 50 minutes ago