7 Section A-Use if your filing status is Single. Complete the row below that applies to you.Tax.(c)Subtract (d) from (c). Enterthe result here and on the entry(a)(b)(d)Taxable income.If line 15 isMultiply(a) by (b)Enter the amount from line 15 Multiplication amountSubtraction amountspace on line 16.* 24% (0.24)S$ 5,979.00SAt least $100,000 but not over $164.925 SOver $164,925 but not over $209,425 S$$ 19,173.00$x 32% (0.32)*35% (0.35)$$ 25,455.75$Over $209,425 but not over $523,600 SOver $523,600S* 37% (0.37) $$ 35,927.75 $Section B-Use if your filing status is Married filing jointly or Qualifying widow(er). Complete the row below thatapplies to you.Tax.Subtra 1 (d) from (c). Enter theresult here and on the entryTaxable income.(a)(c)Multiply(a) by (b)(b)(d)If line 15 isEnter the amount from line 15 Multiplication amountSubtraction amountspace on line 16.x 22% (0.22)SS$ 8,503.00$11.958.00x 24% (0.24)SSAt least $100,000 but not over $172,750 SOver $172,750 but not over $329,850 SOver $329,850 but not over $418,850Over $418,850 but not over $628,300S* 32% (0.32)S$ 38,346.00SSx 35% (0.35)S$ 50,911.50$Over $628,300S* 37% (0.37)S$63,477.50 SSection C-Use if your filing status is Married filing separately. Complete the row below that applies to you.Tax.Subtract (d) from (c). Enterthe result here and on the entry(a)(b)(c)Multiply(a) by (b)Taxable income.If line 15 is(d)Subtraction amountEnter the amount from line 15 Multiplication amountspace on line 16.x 24% (0.24)SSAt least $100,000 but not over $164,925 SOver $164.925 but not over $209,425 SS 5,979.00$19,173.00× 32% (0.32)$3.x 35% (0.35)$$ 25,455.755Over $209,425 but not over $314,150 SOver $314,150S× 37% (0.37)S$31,738.75SSection D-Use if your filing status is Head of household. Complete the row below that applies to you.Tax.(c)Subtract (d) from (c). Enterthe result here and on theTaxable income.(a)(b)(d)Multiply(a) by (b)If line 15 isEnter the amount from line 15 Multiplication amount.Subtraction amountentry space on line 16.x 24% (0.24)$$ 7,431,00× 32% (0.32)S$ 20,623.00At least $100,000 but not over $164,900 SOver $164,900 but not over $209,400 SOver $209,400 but not over $523,600Over $523,600S×35% (0.35)S$ 26,905.00Sx 37% (0.37)S$37,377.00SSSS pls help, i provided that table to help. thank youQuestion 2If you are single and make $300,000 what is your marginal tax rate?Question 3If you are single and make $300,000. How much will you pay in taxes? (Answer to thenearest dollar)Question 4If you are single and make $300,000 what is your average tax rate? (round to nearestpercent)

Taxable Income Amount Multiplication Amount Mutliply Subtraction Amount Tax Atleast $ 100000 but…

Answered: Question 2 If you are single and make…

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter14: Property Transactions: Determination Of Gain Or Loss And Basis Considerations

Section: Chapter Questions

Problem 4RP

See similar textbooks

Similar questions

I need the answer to A.
Given the following tax structure: Total tax Salary $ 10,000 $ 20,000 Тахрayer Mae $ 600 Pedro ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? (Round your final answer to nearest whole dollar amount.) Minimum tax b. This would result in what type of tax rate structure? Tax rate structure Progressive
3
Please help me with these scenarios
Suppose you earn $60,000 per year and pay taxes based on marginal tax rates. The first tax bracket, which taxes at 5 percent, ranges from $0 to $30,000. The second tax bracket, which taxes at 25 percent, ranges from $30,001 to $120,000. How much will you pay in total taxes? Instructions: Enter your answer as a whole number. %24
Given the following tax structure, Taxpayer Salary Total tax $21,500 $1,032 $46,000 ??? Mae Pedro a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? (Round your final answer to nearest whole dollar amount.) Minimum tax b. This would result in what type of tax rate structure? Tax rate structure
1. If the sales tax increases to 12%, what percentage of Jeff's income will Archie now pay in tax on his $150 bill? Show your work. 2. Will he make adjustments to his purchases and if yes, how will he adjust? If no, why not? 3. Overall, who is impacted the most by the sales tax increase? Why?
Scenario: You have just been hired by the country of "Shorelinia" to create a tax system. Your tax system must collect at least $1,000 billion in revenue. You have three taxes to choose from; income tax, sales tax, and payroll tax. a) Step 1.A.1. - Personal Income Tax rates You must decide personal income tax rates for 3 income groups: lower, middle, and upper income. (For each group you will choose the marginal tax rate. Your choices are 0%, 5%, 10%, 15%, 20%, 25%, 30%, 35%, 40%, 45%, or 50%.) In the table below, you will find how much revenue you will collect from each income group. Income tax revenue (in billions of $) at various tax rates 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Lower $0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 Middle $0 $25 $50 $75 $100 $125 $150 $175 $200 $225 $250 Upper $0 $50 $100 $150 $200 $250 $300 $350 $400 $450 $500 The income tax rates will be: Lower (income under $40,000) =…
In step 2 how did you get the excess income tax of 19,520.00?
Given the following tax structure: Taxpayer Salary Total tax Mae $ 14,000 $ 1,260 Pedro $ 52,000 ??? Required: What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? Note: Round your final answer to nearest whole dollar amount. This would result in what type of tax rate structure?
7
Ef.5.

SEE MORE QUESTIONS

Recommended textbooks for you

SWFT Individual Income Taxes

Accounting

ISBN:

9780357391365

Author:

YOUNG

Publisher:

Cengage

SWFT Individual Income Taxes

Accounting

ISBN:

9780357391365

Author:

YOUNG

Publisher:

Cengage

SEE MORE TEXTBOOKS

Question 2 If you are single and make $300,000 what is your marginal Question 3 If you are single and make $300,000. How much will you pa nearest dollar) Question 4 If you are single and make $300,000 what is your averag percent)