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2. Dresden is single with a taxable income for last year of $80,649 His employer withheld $15,387 in federal taxes. a. Use the tax tables from the first page to determine Dresden's tax. b. Does Dresden get a refund?

2. Dresden is single with a taxable income for last year of $80,649 His employer withheld $15,387 in federal taxes. a. Use the tax tables from the first page to determine Dresden's tax. b. Does Dresden get a refund?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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This is for financial mathematics, please help me
2. Dresden is single with a taxable income for last year of $80,649 His employer withheid $15,387 in federal taxes. a. Use the tax tables from the first page to determine Dresden's tax. b. Does Dresden get a refund? c. Find the difference between Dresden's tax and the amount withheld by his employer.
Transcribed Image Text:2. Dresden is single with a taxable income for last year of $80,649 His employer withheid $15,387 in federal taxes. a. Use the tax tables from the first page to determine Dresden's tax. b. Does Dresden get a refund? c. Find the difference between Dresden's tax and the amount withheld by his employer.
If line 43 (taxable Income) Is- At least But than And you are- Single Married Married filing fing jointly sepa- rately Your tax is- 80,000 80,000 80,050 16,385 80,050 80,100 16,399 12,694 16,779 15.069 16,793 15,081 12,706 12,731 16,821 15.106 16,835 15,119 16,849 15.131 16,863 15.144 15,156 80,100 80,150 16,413 12,719 16.807 15.094 80,150 80,200 16,427 80.200 80,250 16,441 12,744 80,250 80,300 16,455 12.756 80,300 80,350 16.469 12.760 80,350 80,400 16,483 12.781 16,877 80,400 80,450 16,497 12,794 16,891 80,450 80.500 16,511 12.806 80.500 80.550 16,525 12.819 16.919 80,550 80,600 16,539 12,831 16,933 80,600 80,650 16.553 12.844 16.947 80.650 80,700 16.567 12.856 16.961 15.231 80,700 80,750 16.581 12,869 16,975 12,881 16.989 16,905 15.219 80.750 80,800 16,595 80,800 80,850 16.609 80.850 80,900 16.623 12.906 12,894 17.003 17,017 Head of a house- hold 80,900 80,950 16,637 12919 17,031 80,950 81.000 16,651 12931 17,045 15,169 15.181 15.194 15.206 15.244 15.256 15,269 15.281 15.294 15.306
Transcribed Image Text:If line 43 (taxable Income) Is- At least But than And you are- Single Married Married filing fing jointly sepa- rately Your tax is- 80,000 80,000 80,050 16,385 80,050 80,100 16,399 12,694 16,779 15.069 16,793 15,081 12,706 12,731 16,821 15.106 16,835 15,119 16,849 15.131 16,863 15.144 15,156 80,100 80,150 16,413 12,719 16.807 15.094 80,150 80,200 16,427 80.200 80,250 16,441 12,744 80,250 80,300 16,455 12.756 80,300 80,350 16.469 12.760 80,350 80,400 16,483 12.781 16,877 80,400 80,450 16,497 12,794 16,891 80,450 80.500 16,511 12.806 80.500 80.550 16,525 12.819 16.919 80,550 80,600 16,539 12,831 16,933 80,600 80,650 16.553 12.844 16.947 80.650 80,700 16.567 12.856 16.961 15.231 80,700 80,750 16.581 12,869 16,975 12,881 16.989 16,905 15.219 80.750 80,800 16,595 80,800 80,850 16.609 80.850 80,900 16.623 12.906 12,894 17.003 17,017 Head of a house- hold 80,900 80,950 16,637 12919 17,031 80,950 81.000 16,651 12931 17,045 15,169 15.181 15.194 15.206 15.244 15.256 15,269 15.281 15.294 15.306
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