Using the tax table, determine the amount of taxes for the following situations: (Do not...

70.2K

Verified Solution

Question

Accounting

imageimage

Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculation. Roung your answers to 2 decimal places.)
a. A head of household with taxable income of $64,500.
Tax Amount: ?
b. A single person with taxable income of $36,900.
Tax Amount: ?
c. Married taxpayers filing jointly with taxable income of $73,900.
Tax Amount: ?
Rate on Taxable Income 108 128 228 248 328 358 378 Single Taxpayers Up to $9,875 $9,876$40,125 $40,126$85,525 $85,526$163,300 $163,301$207,350 $207,351$518,400 Over $518,401 Married Taxpayers Filing Jointly Up to $19,750 $19,751$80,250 $80,251$171,050 $171,051$326,600 $326,601$414,700 $414,701$622,050 Over $622,051 Heads of Household Up to $14,100 $14,101$53,700 $53,701$85,500 $85,501$163,300 $163,301$207,350 $207,351;$518,400 Over $518,401 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 $64,500. b. A single person with taxable income of $36,900. c. Married taxpayers filing jointly with taxable income of $73,900

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students