Use the 2021 marginal tax rates to compute the income tax owed by the following person. Filing status: single Gross income: $80,000 Adjustments: $9000 Deductions: $12,500 mortgage interest $4100 property taxes $4000 charitable contributions Tax credit: none i Click the icon to view the 2021 marginal tax rates. 2021 Marginal Tax Rates. Tax Rate 10% 12% 22% 24% 32% 35% 37% Standard Unmarried, divorced, or legally separated Single up to $9950 $9951 to $40,525 $40,526 to $ $86,375 $86,376 to $164,925 $164,926 to $209,425 $209,426 to $523,600 more than $523,600 Deduction $12,550 2021 Marginal Tax Rates and Standard Deductions Married and each partner files a separate tax return Married Filing Separately up to $9950 $9951 to $40,525 $40,526 to $86,375 $86,376 to $164,925 $164,926 to $209,425 $209,426 to $314,150 more than $314,150 $12,550 Married and both partners file a single tax return Married Filing Jointly up to $19,900 $19,901 to $81,050 $81,051 to $172,750 $172,751 to $329,850 $329,851 to $418,850 $418,851 to $628,300 more than $628,300 $25,100 Unmarried and paying more than half the cost of supporting a child or parent Head of Household up to $14,200 $14,201 to $54,200 $54,201 to $86,350 $86,351 to $164,900 $164,901 to $209,400 $209,401 to $523,600 more than $523,600 $18,800 ☑
Use the 2021 marginal tax rates to compute the income tax owed by the following person. Filing status: single Gross income: $80,000 Adjustments: $9000 Deductions: $12,500 mortgage interest $4100 property taxes $4000 charitable contributions Tax credit: none i Click the icon to view the 2021 marginal tax rates. 2021 Marginal Tax Rates. Tax Rate 10% 12% 22% 24% 32% 35% 37% Standard Unmarried, divorced, or legally separated Single up to $9950 $9951 to $40,525 $40,526 to $ $86,375 $86,376 to $164,925 $164,926 to $209,425 $209,426 to $523,600 more than $523,600 Deduction $12,550 2021 Marginal Tax Rates and Standard Deductions Married and each partner files a separate tax return Married Filing Separately up to $9950 $9951 to $40,525 $40,526 to $86,375 $86,376 to $164,925 $164,926 to $209,425 $209,426 to $314,150 more than $314,150 $12,550 Married and both partners file a single tax return Married Filing Jointly up to $19,900 $19,901 to $81,050 $81,051 to $172,750 $172,751 to $329,850 $329,851 to $418,850 $418,851 to $628,300 more than $628,300 $25,100 Unmarried and paying more than half the cost of supporting a child or parent Head of Household up to $14,200 $14,201 to $54,200 $54,201 to $86,350 $86,351 to $164,900 $164,901 to $209,400 $209,401 to $523,600 more than $523,600 $18,800 ☑
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Transcribed Image Text:Use the 2021 marginal tax rates to compute the income tax owed by the following person.
Filing status: single
Gross income: $80,000
Adjustments: $9000
Deductions: $12,500 mortgage interest
$4100 property taxes
$4000 charitable contributions
Tax credit: none
i Click the icon to view the 2021 marginal tax rates.
Transcribed Image Text:2021 Marginal Tax Rates.
Tax Rate
10%
12%
22%
24%
32%
35%
37%
Standard
Unmarried,
divorced, or
legally separated
Single
up to $9950
$9951 to $40,525
$40,526 to $ $86,375
$86,376 to $164,925
$164,926 to $209,425
$209,426 to $523,600
more than $523,600
Deduction $12,550
2021 Marginal Tax Rates and Standard Deductions
Married and each
partner files a
separate tax return
Married Filing
Separately
up to $9950
$9951 to $40,525
$40,526 to $86,375
$86,376 to $164,925
$164,926 to $209,425
$209,426 to $314,150
more than $314,150
$12,550
Married and both
partners file a
single tax return
Married
Filing Jointly
up to $19,900
$19,901 to $81,050
$81,051 to $172,750
$172,751 to $329,850
$329,851 to $418,850
$418,851 to $628,300
more than $628,300
$25,100
Unmarried and paying more
than half the cost of
supporting a child or parent
Head of
Household
up to $14,200
$14,201 to $54,200
$54,201 to $86,350
$86,351 to $164,900
$164,901 to $209,400
$209,401 to $523,600
more than $523,600
$18,800
☑
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