4. . C erto-cf-tnedia.mheducation.com/Medis/Chpnect Production/2021 Federal Tax Rate SchedulesSchedile X-SingleIf tarableincome is over:But not over:The tax is:SO$9,950$40,525$86,375$164,925$209 425$523.600$9.950$40 525$86,375$164,925$209 425$523,60010% of taxable income$995.00 plus l2% of the excesS over $9,950$4,664.00 plus 22% of the excess over $40,525$14,751.00 plus 24% of the excess over $86,375$33,603.00 plus 32% of the excess over $164,925$47,843.00 plus 35% of the excess over $209,425$157,804.25 plus 37% of the excess over $523,600Schedule Y-1-Married Filing Jointly or Qualifying Widow(er)If tarableincome is over:$0$19,900$81,050$172,750$329,850$418,850$625 300But not over:The tax is:$19,900$81,050$172,750$329,850$418,850$628,30010% of taxable income$1,990.00 plus 12% of the excess over $19,900$9,328.00 plus 22% of the excess over $81,050$29,502.00 plus 24% of the excess over $172,750$67,206.00 plus 32% of the excess over $329,850$95,686.00 plus 35% of the excess over $418,850$168,993.50 plus 37% of the excess over $628,300Schedule Y-2-Married Filing SeparatelyIf taxableincome is over:$0$9,950$40,525$86.375$164,9253209,4255314,150But not over:The tax is:$9,950$40,525$86,375$164,925$209.425$314,15010% of taxable income$995.00 plus 12% of the excess over $9,950$4,664.00 plus 22% of the excess over $40,525$14,751.00 plus 24% of the excess over $86,375$33,603.00 plus 32% of the excesS over $164,925$47.843.00 plus 35% of the excesS over $209,425$84.496.75 plus 37% of the excesS over $314,150Schedule Z-Head of HouseholdIftaxableincome is over:$0$14.200$54.200386.3505164.9005209.4005523.600The tax is:But not over:$14.200$54.200S86.350$164.9005209.400$523 60010% of taxable income$1,420.00 plus 12% of the excess over $14,20056,220.00 plus 22% of the excess over $54,200$13.293.00 plus 24 % of the excess over $86.350$32.145.00 plus 32% of the excess over $164,900$46.385.00 plus 359. of the excess over $209.400$156,355.00 plus 379% of the axcess over $523,600 Determine the tax llability for tax year 2021 In each of the following Instances. In each case, assume the taxpayer can take only thestandard deduction.Use the approprlate Tax Tables and Tax Rate Schedules.a. A single taxpayer, not head of household. with AGI of $24,793 and one dependent.b. A single taxpayer, not head of household, with AGI of $189,309 and no dependents.Note: Round your Intermedlate computations to 2 decCimal places and final answer to the nearest dollar amountCA marrled couple filing Jointly with AGI of $41,245 and two dependents.d. A marrled couple filing Jolntly with AGI of $163,588 and three dependents.Note: Round your Intermedlate computations to 2 decimal places and final answer to the nearest dollar amounte. A marrled couple fillng Jolntly with AGI of $313.894 and one dependent.Note: Round your Intermediate computations to 2 decimal places and final answer to the nearest doEA taxpayer filing marrled filing separately with AGI of $70,296 and one dependent.g. A qualifying widow, age 66. with AGI of $50,540 and one dependenth. A head of household with AGI of $16.875 and two dependents.LA head of household with AGI of $60,526 and one dependent.PpedFookencesNote: For all requirements, use the Tax Tables for taxpayers with taxable Income under $100,000 and the Tax Rate Schedules forthose with taxable Income above $100,000.Tax liabilitya.C.d.f.

Determine the tax liability for tax year 2021 In each of the following Instances. In each case, assume the taxpayer can take only the standard deduction. Use the appropriate Tax Tables and Tax Rate Schedules. a. A single taxpayer, not head of household, with AGI of $24,793 and one dependent. b. A single taxpayer, not head of household, with AGI of $189,309 and no dependents. Note: Round your Intermediate computations to 2 decimal places and final answer to the nearest dollar amount. c. A married couple filling Jointly with AGI of $41,245 and two dependents. d. A married couple filing jointly with AGI of $163,588 and three dependents

Determine the tax liability for tax year 2021 In each of the following Instances. In each case, assume the taxpayer can take only the standard deduction. Use the appropriate Tax Tables and Tax Rate Schedules. a. A single taxpayer, not head of household, with AGI of $24,793 and one dependent. b. A single taxpayer, not head of household, with AGI of $189,309 and no dependents. Note: Round your Intermediate computations to 2 decimal places and final answer to the nearest dollar amount. c. A married couple filling Jointly with AGI of $41,245 and two dependents. d. A married couple filing jointly with AGI of $163,588 and three dependents

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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11.
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