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2018 Tax Rate, Single Individual Taxable income S0 S9,525 S38,700 $82,500 S157,500 S200,000 $500,000o limit...

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Accounting

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2018 Tax Rate, Single Individual Taxable income S0 S9,525 S38,700 $82,500 S157,500 S200,000 $500,000o limit Tax Payable 10% of TI $952.50 plus 12% of $4.453.50 plus 22% of $14.089.50 plus 24% of (TI-S82.500 $32.089.50 plus 32% of $45689.50 plus 35% of $150.689.50 plus 37% of S9,525 $38,700 9,525 $82,500 $157,500 $200,000 8,700 157,500) 200.000 - S500,000 500,000 2. (4 points) If Ross has a taxable income of $40,000, what is his tax bill? 3. (4 points) If Rachel has a taxable income of $162,500, what is her tax bill? 4. (4 points) If Rachel has a taxable income of $162,500, how much less taxes would be paid with another S3,000 of tax.deductible expenses? 5. (4 points) If Rachel has a taxable income of $162,500, how much less taxes would be paid with a $3,000 tax credit? 6. (4 points) If Ross has $235,000 of taxable income and a long te capital gain of $10,000, what is his total tax bill if long term capital gains are taxed at 15%

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