Use he 2010 margnal taeo comute the income tax owed by the folowng person Single male no dependents Gross income 178.000 Autmenta 000 2016 Marginal Tax Rates Deductiona .00 mongage interest $4605 property taes s2000 chartatie oortiona Tax credtnone 2016 Marginal Tax Rates, Standard Deductions, and Exemptions Cick the icon to view the 2010 maginal ta rates Unmarried, divorced, Married and each partner or legally separated fles a separate tax return partners file asingle more than half the cost Married and both Unmarried and paying The income tan owed i Tpe an ieger tax return of supporting a chiad or parent Married Filing Separately Married Filing Jointly Hlead of Household ecimal Round to he nearest cent as needed) Tax Rate Single 10% up lo $18.50 up to $1320 1% S276 to 370 S270 o 370 $37.651 to S75.90 S75.951o S115.725 $190,151 o 413350 $115,726 o S20675 $413.351 415.000 s206.76 to $233,475 $18.551 to S7S.300 S75.301 $151.900 $151.901 to $231,450 $130,151 to $210,800 $231,451 S413.350 $210.801 $413.350 $413.351 S40.000 $413.351 o $441.000 more than $466 950 $13.251 to $50.400 $50.401 to $130,150 25% $371 to S01,150 S01,151t S10,150 33% 30% 30 0% more than $415.050 S300 more than $233475 more than $441.000 Standand Deduction $6300 $12.000 Su00 Exemptone per person) $4060 $4050 $4050 Print Done
Use he 2010 margnal taeo comute the income tax owed by the folowng person Single male no dependents Gross income 178.000 Autmenta 000 2016 Marginal Tax Rates Deductiona .00 mongage interest $4605 property taes s2000 chartatie oortiona Tax credtnone 2016 Marginal Tax Rates, Standard Deductions, and Exemptions Cick the icon to view the 2010 maginal ta rates Unmarried, divorced, Married and each partner or legally separated fles a separate tax return partners file asingle more than half the cost Married and both Unmarried and paying The income tan owed i Tpe an ieger tax return of supporting a chiad or parent Married Filing Separately Married Filing Jointly Hlead of Household ecimal Round to he nearest cent as needed) Tax Rate Single 10% up lo $18.50 up to $1320 1% S276 to 370 S270 o 370 $37.651 to S75.90 S75.951o S115.725 $190,151 o 413350 $115,726 o S20675 $413.351 415.000 s206.76 to $233,475 $18.551 to S7S.300 S75.301 $151.900 $151.901 to $231,450 $130,151 to $210,800 $231,451 S413.350 $210.801 $413.350 $413.351 S40.000 $413.351 o $441.000 more than $466 950 $13.251 to $50.400 $50.401 to $130,150 25% $371 to S01,150 S01,151t S10,150 33% 30% 30 0% more than $415.050 S300 more than $233475 more than $441.000 Standand Deduction $6300 $12.000 Su00 Exemptone per person) $4060 $4050 $4050 Print Done
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Use the 2010 marginal tax rates to compute the income tax owed by the following person
Sngle male, no dependenta
Gross income $79,000
Adjustmenta 12000
Deductiona. $20,000 mortgage interest
2010 Marginal Tax Rates
54605 property taxes
sz000 chantable contributions
Tax credt none
2016 Marginal Tax Rates, Standard Deductions, and Exemptions
Unmarried, divorced, Married and each partner Married and both
Click the icon to view the 2010 marginal tax rates
Unmarried and paying
or legally separated files a separate tax return partners file a single more than half the cost
of supporting a child
or parent
The income tax owed is
tax return
(Type an ineger or a decimal. Round to the nearest cent as needed.)
Tax Rate
Single
up to $9275
Married Filing Separately Married Filing Jointly
Head of Household
10%
up to S0275
$8276 to $37 650
up to $18,550
up lo $13,250
$13.251 to $50,400
15%
S0276 to $37.650
$37 661 to $91,150
$18,551 to $75,300
25%
$37,651 to $75.950
$75,301 to $151.900
$151.901 to $231,450 $130,151 to $210,800
$231,451 to $413,350 $210,801 to $413,350
$413,351 to $466.950 $413,351 to $441.000
S50.401 to $130, 150
28%
S01,151 to $190,150
$190,151 to $413.360 $115,726 to $206.675
$413.361 to $415,060 $206.676 to $233,475
more than $415,050
S75,951 to $115,725
33%
35%
30.6%
more than $233,475
more than $466,050
more than $441,000
Standard
Deduction
$6300
S8300
$12,600
$9300
Exemptione
(per person)
$4060
$4050
$4050
$4050
Print
Done
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