ngelena files as a head of household. In 2022, she reported $58,300 of taxable income, including a $14,500 qualific lividend. What is her gross tax liability? (Use the tax rate schedules, long-term capital gains tax brackets.) Hote: Round your answer to the nearest whole dollar amount. Multiple Choice

ngelena files as a head of household. In 2022, she reported $58,300 of taxable income, including a $14,500 qualific lividend. What is her gross tax liability? (Use the tax rate schedules, long-term capital gains tax brackets.) Hote: Round your answer to the nearest whole dollar amount. Multiple Choice

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter17: Business Tax Credits And The Alternative Minimum Tax

Section: Chapter Questions

Problem 36P

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2. Taxes paid for a given income level Suppose that Maria is preparing to file her taxes. She is single and currently lives in Miami. Maria earned $110,000 in taxable income in 2022. She reviews the following table, which shows the IRS tax rates for a single taxpayer in 2022. On Annual Taxable Income... Up to $10,275 From $10,275 to $41,775 From $41,775 to $89,075 From $89,075 to $170,050 From $170,050 to $215,950 From $215,950 to $539,900 Over $539,900 The Tax Rate Is... (Percent) 10.0 Maria calculates that she owes 12.0 22.0 24.0 32.0 35.0 37.0 Based on the IRS table, Maria calculates that her marginal tax rate is in income taxes for 2022. Maria then calculates that her average tax rate is when her annual taxable income is $110,000. based on the annual income level and the amount of taxes she owes for 202 After figuring out what she owes in taxes in 2022, Maria decides to ask an accountant for tax advice. The accountant claims that he has found a legal way to shelter $2,000 of…
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