a. A head of household with taxable income of $58,000. Tax amount b. A single person with taxable income of $36,200. Tax amount c. Married taxpayers filing jointly with taxable income of $72,600. Tax amount
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- Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $59,500. Tax amount b. A single person with taxable income of $35,800. Tax amount c. Married taxpayers filing jointly with taxable income of $71,100. Tax amountUsing the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $58, 500. b. A single person with taxable income of $ 36,400. c. Married taxpayers filing jointly with taxable income of $72,700.Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the tax tables to determine tax liability. Required: a. Married taxpayers, taxable income of $30,916. b. Single taxpayer, taxable income of $66,829. Note: For all requirements, round "Average tax rate" to 2 decimal places. a. b. Tax liability Marginal tax rate % % Average tax rate % %
- Use the appropriate Tax Tables and Tax Rate Schedules, determine the amount of tax liability in each of the following instances. (All answers should be rounded to the nearest dollar.) a. A single person with taxable income of $103,500. b. A married couple filing jointly with taxable income of $37,700. c. A head of household with taxable income of $87,925. d. A person filing married filing separately with taxable income of $64,000. e. A married couple filing jointly with taxable income of $144,600.Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables to compute tax liability. Required: a. Married taxpayers, who file a joint return, have taxable income of $32,366. b. Single taxpayer, has taxable income of $67,342. Note: For all requirements, round "Average tax rate" to 2 decimal places. Tax liability a. $ b. $ 3,474 14,336 Marginal tax rate 15 % 25 % Average tax rate. 12.13 % 21.28 %Use the following information and the flow chart from the module to calculate: Adjusted gross income ( AGI) Taxable income Show your work for each calculation to receive full credit. An individual has the following information for the current tax year. Assume they do not itemize and they file as head of household. Income from wages, $80,000 Interest earned on savings, $150 IRA contribution, $5,000 Checking account interest earned, $75 Standard deduction for Head of Household: $20,800 Child and Dependent Care Tax credit, $3,000 Filing status: Head of Household
- Determine the tax liability, marginal tax rate, and average tax rate (rounded to two decimal places) in each of the following cases. Use the tax tables to determine tax liability. Case 1: Married taxpayers, taxable income of $36,162: Case 2: Single taxpayer, taxable income of $66,829:Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer. Name Filing Status Taxable Income Tax Liability Rua head of household $165,400Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the tax tables and tax rate schedules to determine tax liability. Required: a. Single taxpayer, taxable income of $30,916. b. Single taxpayer, taxable income of $97,463. Note: For all requirements, round "Average tax rate" to 2 decimal places. a. b. Tax liability Marginal tax rate % % Average tax rate % %
- Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables and tax rate schedules to compute tax liability. Required: a. Single taxpayer, taxable income of $31,916. b. Single taxpayer, taxable income of $97,463. Note: For all requirements, round "Average tax rate" to 2 decimal places. a. b. Tax liability Marginal tax rate % % Average tax rate % %Determine the tax liability, marginal tax rate, and average tax rate (rounded to two decimal places) in each of the following cases. Use the tax tables to determine tax liability. Case 1: Single taxpayer, taxable income of $36,162: Case 2: Single taxpayer, taxable income of $89,889:Which equation could be used to identify one of the following levels of Federal Incomne Tax withholding? PERCENTAGE METHOD FOR FIT WITHHOLDING MARRIED PERSON WEEKLY PAYROLL PERIOD Allowance Rate = $63.46 The amount of FIT withholding is... each w %3D . If he Weekly Taxable Wage any rin Over But not over. $0.00 0.10(income 58) $36.00 + 0.12(income 222) $171.36 + 0.22(income 588) $1 $222 222 588 588 1,117 Select one: O A. FIT = 37.70 + 0.12g; where g = gross pay in dollars. O B. FIT = 36 + 0.22(g - 222); where g = gross pay in dollars. O C. FIT = 171.36g - 129.36; where g = gross pay in dollars. O D. FIT = 36 + 0.12g - 26.64; where g = gross pay in dollars. Outi