Find the amounts as indicated. The letter following the name indicates the marital status, and all married people are filing jointly. Use $4050 for each personal exemption; a standard deduction of $6300 for single people, $12,600 for married people filing jointly, $6300 for married people filing separately, and $9300 for head of a household; and the following tax rate schedule. MARRIED FILING JOINTLY Taxable Income Find the Tax $0 - $18,550 10% $18,551 - $75,300 $1,855 plus 15% of the amount over $18,550 $75,301 - $151,900 $10,367.50 plus 25% of the amount over $75,300 $151,901 - $231,450 $29,517.50 plus 28% of the amount over $151,900 $231,451 - $413,350 $51,791.50 plus 33% of the amount over $231,450 $413,351 - $466,950 $111,818.50 plus 35% of the amount over $413,350 $466,951 or more $130,578.50 plus 39.6% of the amount over $466,950 45) Name: The Edwards, M Number of Exemptions: 3 Adjusted Gross Income: $100,248 Total Deductions: $12,703 Taxable Income: ? Tax Owed: ?
Find the amounts as indicated. The letter following the name indicates the marital status, and all married people are filing jointly. Use $4050 for each personal exemption; a standard deduction of $6300 for single people, $12,600 for married people filing jointly, $6300 for married people filing separately, and $9300 for head of a household; and the following tax rate schedule.
|
MARRIED FILING JOINTLY |
|
|
Taxable Income |
Find the Tax |
|
$0 - $18,550 |
10% |
|
$18,551 - $75,300 |
$1,855 plus 15% of the amount over $18,550 |
|
$75,301 - $151,900 |
$10,367.50 plus 25% of the amount over $75,300 |
|
$151,901 - $231,450 |
$29,517.50 plus 28% of the amount over $151,900 |
|
$231,451 - $413,350 |
$51,791.50 plus 33% of the amount over $231,450 |
|
$413,351 - $466,950 |
$111,818.50 plus 35% of the amount over $413,350 |
|
$466,951 or more |
$130,578.50 plus 39.6% of the amount over $466,950 |
45)
Name: The Edwards, M
Number of Exemptions: 3
Adjusted Gross Income: $100,248
Total Deductions: $12,703
Taxable Income: ?
Tax Owed: ?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
