Exhibit 18- 3Income Tax Rate TablesFiling status: SingleTaxable incomeТахAt least $0 but not over $9,52510% of the amount over $0Over $9,525 but not over $38,700$952.50 + 12% of the amount over $9,525Over $38,700 but not over $82,500$4,453.50 + 22% of the amount over $38,700Over $82,500 but not over $157,500$14,089.50 + 24% of the amount over $82,500Over $157,500 but not over $200,000$32,089.50 + 32% of the amount over $157,500Over $200,000 but not over $500,000$45,689.50 + 35% of the amount over $200,000Over $500,000$150,689.50 + 37% of the amount over $500,000Filing status: Married filing jointly or Qualifying widow(er)Taxable incomeТаxAt least $0 but not over $19,05010% of the amount over $0Over $19,050 but not over $77,400$1,905 + 12% of the amount over $19,050Over $77,400 but not over $165,000$8,907 + 22% of the amount over $77,400Over $165,000 but not over $315,000$28,179 + 24% of the amount over $165,000Over $315,000 but not over $400,00$64,179 + 32% of the amount over $315,000Over $400,00 but not over $600,000$91,379 + 35% of the amount over $400,000Over $600,000$161,379 + 37% of the amount over $600,000Filing status: Married filing separatelyTaxable incomeТаxAt least $0 but not over $9,52510% of the amount over $0Over $9,525 but not over $38,700$952.50 + 12% of the amount over $9,525Over $38,700 but not over $82,500$4,453.50 + 22% of the amount over $38,700Over $82,500 but not over $157,500$14,089.50 + 24% of the amount over $82,500Over $157,500 but not over $200,000$32,089.50 + 32% of the amount over $157,500Over $200,000 but not over $300,000$45,689.50 + 35% of the amount over $200,000Over $300,000$80,689.50 + 37% of the amount over $300,000Filing status: Head of householdTaxable incomeТаxAt least $0 but not over $13,60010% of the amount over $0Over $13,600 but not over $51,800$1,360 + 12% of the amount over $13,600Over $51,800 but not over $82,500$5,944 + 22% of the amount over $51,800Over $82,500 but not over $157,500$12,698 + 24% of the amount over $82,500Over $157,500 but not over $200,000$30,698 + 32% of the amount over $157,500Over $200,000 but not over $500,000$44,298 + 35% of the amount over $200,000Over $500,000$149,298 + 37% of the amount over $500,000 Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer.NameFiling StatusTaxable IncomeTax LiabilityRuahead of household$165,400$%24

Taxes are the main sources of revenue for the government. Every government imposes tax on the basis…

Answered: Use the Tax Rate Tables, Exhibit 18-3,…

Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability (in $) for the taxpayer. Name Filing Status Taxable Income Tax Liability Rua head of household $165,400 %24

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Schedule Z-If your filing status is Head of household If your taxable income is: The tax is: of the But not amount over- Over- over- $0 $13,850 10% $0 13,850 52,850 $1,385.00 + 12% 13,850 52,850 84,200 6,065.00 + 22% 52,850 84,200 160,700 12,962.00 + 24% 84,200 160,700 204,100 31,322.00 + 32% 160,700 204,100 510,300 45,210.00 + 35% 204,100 510,300 152,380.00 + 37% 510,300 Write the equation of the 5th row in y=mx+b form
rmn.3
Don't give answer in image
Haresh
ront Peragraph Styies Edting Senitty Now let's do a problem where we know the person's taxes and want to find their taxable income, and their AGI You may find the functions you determined in the question above helpha 6. Suppose someone paid $17,500 in taxes What could this person's adjusted gross income be? 1040 Linels) Description Amount 1 and Sb Wagen, salanes, and Sps Adjusted gross income (AGI) Standard deduction and exemption (singie. nondependent) Subtract line 5 trom line 4 Taxable income Total Tax (hom schedule) Elfective tax rate (tax asacentage of all income) 11a $12 200 11b $17.500 2019 Tax Schedule (NOT ued for HW- separate Tax Schedules previded wm Single Taxable Income Tax Brackets and Rates, 2019 If taxxable income is over- but not oer the tax i $0,700 $0,700 $39,475 584 200 $160,725 $204, 100 $30 475 $94.200 $160,725 $204.100 $610,300 10% of the amount over $0 $970 plus 12% of the amount over $0,700 $4,543 plus 22s of the amount over $39475 $14,382 plus 24 of the amount…
Determine the Income Taxes Responsibility for this taxpayers, remember to present procedure in any taxpayer. Taxpayer(s) Filing Status Income Itemized Deductions income Taxes LiabilityArturo Single $29,239 $2,000 ___________Belize HOH $53,129 $14,500 ___________Carmine Qualifying Widow 89,000 $12,490 ___________Family Rivas MFJ $139,000 $23,000 ___________
Use the Tax Rate Tables, Exhibit 18-3, to calculate the tax liability for the following taxpayers. Name Filing Status Taxable Income Tax Liability 10. Rua Head of Household $175,800 $36,554 11. Dylewski Married, Jointly $52,500 ANSWER$5,919 12. Williams Single $61,300 blank 2 13. Cabral Married, Separately $185,188 ANSWER$40,949.66
Single person (including head of household) If amount of wages (after subtracting withholding allowance) is: The amount of income tax withholding is: Not over $43 $0 Over– But not over– of excess over– $43 –$222.......$0.00 plus 10% –$43 $222 –$767.......$17.90 plus 15% –$222 $767 –$1,796....$99.65 plus 25% –$767 $1,796 –$3,700....$356.90 plus 28% –$1,796 $3,700 –$7,992....$890.02 plus 33% –$3,700 $7,992 –$8,025....$2,306.38 plus 35% –$7,992 $8,025 .................$2,317.93 plus 39.6% –$8,025 Using an $80 value for each exemption and the tax rate schedule above, what is Woods' federal income tax withholding? Round your answer to two decimal places.
Computing Federal Income Tax Using the table (Refer to Figure 8-4 in the text.), determine the amount of federal income tax an employer should withhold weekly for employees with the following marital status, earnings, and withholding allowances: Marital Status Total Weekly Earnings Number of Allowances Amount of Withholding (a) S $364.80 2 (b) S 445.80 1 (c) M 493.40 3 (d) S 493.60 0 (e) M 702.70 5
how do i compute federal income tax salary gross earnings is $1750.00
Darius' net income from self-employment reported on Schedule C is $25,000. Calculate his self-employment tax. Group of answer choices $1,766 $23,088 $3,825 $3,532
Please advise