Susan files her tax return as a single person. In 2023, She had $55,850 of total income and used the standard deduction to reduce her taxable income to $42,000. Using the attached 2023 Tax Brackets calculate (1) the Federal Income Tax she will owe and (2) her Average Tax Rate. You need to use the 2023 Tax Brackets which can be found in Lecture 8, slide 9 OA. Her Federal Tax is $12,287 and her Average Tax Rate is 22% OB. Her Federal Tax is $4,820 and her Average Tax Rate is 12% OC. Her Federal Tax is $4,820 and her Average Tax Rate is 9% OD. Her Federal Tax is $5,040 and her Average Tax Rate is 12%
Susan files her tax return as a single person. In 2023, She had $55,850 of total income and used the standard deduction to reduce her taxable income to $42,000. Using the attached 2023 Tax Brackets calculate (1) the Federal Income Tax she will owe and (2) her Average Tax Rate. You need to use the 2023 Tax Brackets which can be found in Lecture 8, slide 9 OA. Her Federal Tax is $12,287 and her Average Tax Rate is 22% OB. Her Federal Tax is $4,820 and her Average Tax Rate is 12% OC. Her Federal Tax is $4,820 and her Average Tax Rate is 9% OD. Her Federal Tax is $5,040 and her Average Tax Rate is 12%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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