2016 marginal tax rates2016 Marginal Tax Rates, Standard Deductions, and ExemptionsUnmarried and payingor legally separated files a separate tax return partners file a single more than half the costof supporting a childor parentUnmarried, divorced, Married and each partnerMarried and bothtax returnTax RateSingleMarried Filing Separately Married Filing JointlyHead of Household10%up to $9275up to $9275up to $18,550up to $13,25015%$9276 to $37,650$9276 to $37,650$18,551 to $75,300$13,251 to $50,40025%$37,651 to $91,150$37,651 to $75,950$75,301 to $151,900$50,401 to $130,15028%$91,151 to $190,150$75,951 to $115,725$151,901 to $231,450$130,151 to $210,80033%$190,151 to $413,350$115,726 to $206,675$231,451 to $413,350$210,801 to $413,35035%$413,351 to $415,050$206,676 to $233,475$413,351 to $466,950$413,351 to $441,00039.6%more than $415,050more than $233,475more than $466,950more than $441,000Standard$6300$6300$12,600$9300Deduction$4050Exemptions (per $4050person)$4050$4050PrintDone Use the 2016 marginal tax rates to compute the income tax owed by the following person.Unmarried head of household with two dependent children.Gross income: $63,000Adjustments: noneDeductions: $3480 state taxes$1000 theft lossTax credit: $3000i Click the icon to view the 2016 marginal tax rates.The income tax owed is $.(Type an integer or a decimal. Round to the nearest cent as needed.)

Itemized deduction includes state taxes of $ 3480 and $ 1000 theft losses. However the standard…

Use the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried head of household with two dependent children. Gross income: $63,000 Adjustments: none Deductions: $3480 state taxes $1000 theft loss Tax credit: $3000 Click the icon to view the 2016 marginal tax rates. ..... The income tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)

Use the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried head of household with two dependent children. Gross income: $63,000 Adjustments: none Deductions: $3480 state taxes $1000 theft loss Tax credit: $3000 Click the icon to view the 2016 marginal tax rates. ..... The income tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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