Use Table 3.6. Note: Do not round intermediate calculations. Round your answers to 1 decimal place. A. What would be the marginal tax rate for a married couple with income of $90, 500? B. What would be the average tax rate for a married couple with income of $90, 500? C. What would be the marginal tax rate for an unmarried taxpayer with income of $90, 500? D. What

Personal Finance
13th Edition
ISBN:9781337669214
Author:GARMAN
Publisher:GARMAN
Chapter4: Managing Income Taxes
Section: Chapter Questions
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Use Table 3.6. Note: Do not round intermediate calculations. Round your
answers to 1 decimal place. A. What would be the marginal tax rate for a
married couple with income of $90, 500? B. What would be the average tax
rate for a married couple with income of $90, 500? C. What would be the
marginal tax rate for an unmarried taxpayer with income of $90, 500 ? D. What
would be the average tax rate for an unmarried taxpayer with income of $
90, 500?
Transcribed Image Text:Use Table 3.6. Note: Do not round intermediate calculations. Round your answers to 1 decimal place. A. What would be the marginal tax rate for a married couple with income of $90, 500? B. What would be the average tax rate for a married couple with income of $90, 500? C. What would be the marginal tax rate for an unmarried taxpayer with income of $90, 500 ? D. What would be the average tax rate for an unmarried taxpayer with income of $ 90, 500?
TABLE 3.6 Personal tax rates, 2022.
Taxable Income ($)
Single Taxpayers
0-9,950
9,950-40,525
40,525-86,375
86,375-164,925
164,925-209,425
209,425-523,600
523,600 and above
Married Taxpayers Filing
Joint Returns
0-19,900
19,900-81,050
81,050-172,750
172,750-329,850
329,850-418,850
418,850-628,300
628,300 and above
Tax Rate (%)
10%
12%
22%
24%
32%
35%
37%
Transcribed Image Text:TABLE 3.6 Personal tax rates, 2022. Taxable Income ($) Single Taxpayers 0-9,950 9,950-40,525 40,525-86,375 86,375-164,925 164,925-209,425 209,425-523,600 523,600 and above Married Taxpayers Filing Joint Returns 0-19,900 19,900-81,050 81,050-172,750 172,750-329,850 329,850-418,850 418,850-628,300 628,300 and above Tax Rate (%) 10% 12% 22% 24% 32% 35% 37%
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ISBN:
9781337669214
Author:
GARMAN
Publisher:
Cengage