Refer the tax table to answer the following question.TABLE 8.1 2016 Marginal Tax Rates, Sta dard Doductions, and EnengtonsMantel i eputer lpute t nnMantal n herpurten Alasegle la tefenal lpythes khi et efrparting ckldprutIngly sepandalMarrled FilingSeparatelyMarriedIlead ofIlouseholdTax RateSingleup to $9275Filing Jointly10%up to $9275$9276 to $37,650up to $13,250$13.251 to $50,400$50,401 to $130150$151,S01 to $231,450 S10151 to $210,800up to $18.55015%$9276 to $37,650$18,551 to $75,00$37.651 to $91.15o$91.151 to $190,15025%$37651 to $7595o$75,01 to $151.90028%$75,951 to $I15,725S115,726 to $20667533%$190,151 to $413,150$231451 to $41L190$210801 to $413,15035%$413.351 to $15050$206,676 to $233,475$413.351 to $466950 S1151 to $441,00039.6%e than $415,060Ke than $233,475more ihan $46,950mure tham $441.000StandardDeduction$6300$600$12,600$9300Exemptions(per person)$4050$4050$1050$4050If a taxpayer has taxable income $80,900, what is her tax bracket?(Taxpayer filing status is married filing jointly)O 15%O 28%O 25%O 10%

Form the given information, the tax rate for income $75,301 to $151,900 in married filling jointly…

Answered: If a taxpayer has taxable income…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Similar questions

a. What is our monthly income? b. Lending agencies usually require that no more than 28% of the borrower's monthly income be spent on housing. How much does that represent in our case?
Gross Income $80,000.00$80,000.00 Standard Deduction $12,000.00$12,000.00 Taxable Income $68,000.00$68,000.00 Total Income Tax Due $10,818.50$10,818.50 Amount Withheld by Employer $10,800.00$10,800.00 Which statement correctly explains whether she will receive a refund?
Pro forma income statement, in won (millions) sales (1,000,000 @ 5,000 won/set)............. 5,000 costs..............................................................(4,000) labor-skilled....................................(1,700) raw materials: imported (duty-free)......................(1,000) local.................................................(500) overhead..........................................(300) interest.............................................(500) profit (before tax) 10%........................1,000 if the won devalues, from w484/$ to w580/$, recompute the statement assuming domestic sales remain the same
Based on the 50/30/20 rule,Julia has needs of $2,600 per month,wants of $1,560 per month,and saves $1,040 per month.Which of the following is her after-tax income?
As a tax return preparer for The Fernando Rodriguez Tax & Accounting Service, you have been asked to calculate the missing information for one of the firm's tax clients. The following table gives the standard deduction for various filing statuses. Standard Deductions Single or married filing separately $12,000 Married filing jointly or surviving spouse $24,000 Head of household $18,000 65 or older and/or blindand/or someone else canclaim you (or your spouseif filing jointly) as a dependent: Varies(See www.irs.gov for information.) Using the standard deduction table above, complete the following table (in $). Name Filing Status Income Adjustments toIncome Adjusted GrossIncome StandardDeduction ItemizedDeductions TaxableIncome Campbell Married filingjointly $52,120 $1,560 $5,710
Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 11,000 Selling price per unit $ 16 Variable selling expense per unit $ 1 Variable administrative expense per unit $ 2 Total fixed selling expense $ 21,000 Total fixed administrative expense $ 16,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory $ 23,000 Merchandise purchases $ 85,000 Complete this question by entering your answers in the tabs below. Prepare a traditional income statement. Cherokee, Incorporated Traditional Income Statement Sales $176,000 Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses 0 Net operating income
1. Help Rico determine what his deduction amount is. Rico is entitled to a $6,250 standard deduction because he is single. Rico had the following tax deductible expenses last year: $500 donation to charity, $1200 in unreimbursed business expenses, $1800 in state and local taxes, and $900 in school supplies. First step: What is the total amount of Rico's tax deductible expenses? 2. Rico is entitled to a $6,250 standard deduction because he is single. Rico had the following tax deductible expenses last year: $500 donation to charity, $1200 in unreimbursed business expenses, $1800 in state and local taxes, and $900 in school supplies. Rico has to choose between his standard deduction and his itemized deduction, and he knows it is best to use the larger deduction. How much of a deduction will Rico take?
If $ 9.3 is invested in a bank for 1192 days, and simple interest of 4.7 per cent per annum is charged, the total amount of interest received on the deposit will be a. 1.43 b. 10.73 c. 10.80 d. 1.50
Johu depo s.ted $1000 at the end of eccery RR SP for 7 years. month u to The luterest rete earnred voas 4.50%. Componded Semi- aunually for the finA 4 yeurs and Chauge d to 4.75% Companced montaly for the hext 3 yus. kihat accamutated lalwe Of The RReP at te emd af 7 years? coas the Rond to te nea rest Cent.
Just need part d
3. Janet is retiring after working for a major department store for 20 years. The company offered her a flat retirement benefit of $50 per year for each year of service. a. What was her monthly income in the first year after retirement? b. What was her annual income for the first year of retirement? c. After 1 year of retirement, she received a 1.54% cost of living adjustment to her monthly pension benefit. What was her new monthly benefit?
What is the yearly employer contribution to the U.S. Social Security tax on a salary of $40,000? Total Due: FICA Taxes Employer's Responsibility Employee's Responsibility Social Security Medicare 12.40% 2.90% 6.20% 6.20% $[ ? ] 1.45% 1.45%

SEE MORE QUESTIONS

Recommended textbooks for you

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Advanced Engineering Mathematics

Advanced Math

ISBN:

9780470458365

Author:

Erwin Kreyszig

Publisher:

Wiley, John & Sons, Incorporated

Numerical Methods for Engineers

Advanced Math

ISBN:

9780073397924

Author:

Steven C. Chapra Dr., Raymond P. Canale

Publisher:

McGraw-Hill Education

Introductory Mathematics for Engineering Applicat…

Advanced Math

ISBN:

9781118141809

Author:

Nathan Klingbeil

Publisher:

WILEY

Mathematics For Machine Technology

Advanced Math

ISBN:

9781337798310

Author:

Peterson, John.

Publisher:

Cengage Learning,

Basic Technical Mathematics

Advanced Math

ISBN:

9780134437705

Author:

Washington

Publisher:

PEARSON

Topology

Advanced Math

ISBN:

9780134689517

Author:

Munkres, James R.

Publisher:

Pearson,

SEE MORE TEXTBOOKS

If a taxpayer has taxable income $80,900, what is her tax bracket? (Taxpayer filing status is married filing jointly) O 15% O 28% O 25% O 10%