4. A small town has been cryogenically frozen since 2014.When they thaw out, they want to...
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4. A small town has been cryogenically frozen since 2014.Whenthey thaw out, they want to know how their tax rates have changedafter the Tax Cuts and Jobs Act of 2017. In all cases assume thestandard deduction is taken and personal exemptions are taken foreveryone in the household.a. Mo earns $90,000. He is a singlefiler. What is his average tax rate in 2014 versus in 2019?b.Elaina earns $90,000. She is married, and files as a marriedcouples filing jointly with her spouse who earns no income. What isher average tax rate in 2014 versus in 2019? c.Meriam earns$90,000. She files as a head of household with four dependents.What is her average tax rate in 2014 versus in 2019?d. Based onthis example, what demographic has benefitted the most from thechanges in the Tax Cuts and Jobs Act of 2017?
4. A small town has been cryogenically frozen since 2014.Whenthey thaw out, they want to know how their tax rates have changedafter the Tax Cuts and Jobs Act of 2017. In all cases assume thestandard deduction is taken and personal exemptions are taken foreveryone in the household.a. Mo earns $90,000. He is a singlefiler. What is his average tax rate in 2014 versus in 2019?b.Elaina earns $90,000. She is married, and files as a marriedcouples filing jointly with her spouse who earns no income. What isher average tax rate in 2014 versus in 2019? c.Meriam earns$90,000. She files as a head of household with four dependents.What is her average tax rate in 2014 versus in 2019?d. Based onthis example, what demographic has benefitted the most from thechanges in the Tax Cuts and Jobs Act of 2017?
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