Using the tax table, determine the amount of federal taxes for the following situations:a. A head of household with taxable income of $66,500.b. A single person with taxable income of $42,700.c. Married taxpayers filing jointly with taxable income of $81,800.Note: For all the requirements, round your intermediate calculations and final answer to the nearest whole dollar.a. Tax amountb. Tax amountc. Tax amount

To determine the amount of federal taxes for the scenarios provided, we need to refer to the **IRS…

Answered: Using the tax table, determine the…

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter9: Individuals As Taxpayers

Section: Chapter Questions

Problem 4CE

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Determine from the tax table in Appendix A the amount of the income tax for each of the following taxpayers for 2019:
Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $59,500. Tax amount b. A single person with taxable income of $35,800. Tax amount c. Married taxpayers filing jointly with taxable income of $71,100. Tax amount
Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $58, 500. b. A single person with taxable income of $ 36,400. c. Married taxpayers filing jointly with taxable income of $72,700.
Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the tax tables to determine tax liability. Required: a. Married taxpayers, taxable income of $30,916. b. Single taxpayer, taxable income of $66,829. Note: For all requirements, round "Average tax rate" to 2 decimal places. a. b. Tax liability Marginal tax rate % % Average tax rate % %
Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the tax tables to determine tax liability. Required: Married taxpayers, taxable income of $97, 463. Married taxpayers, taxable income of $66,829. Note: For all requirements, round "Average tax rate" to 2 decimal places.
Haresh
Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables to compute tax liability. Required: a. Married taxpayers, who file a joint return, have taxable income of $32,366. b. Single taxpayer, has taxable income of $67,342. Note: For all requirements, round "Average tax rate" to 2 decimal places. Tax liability a. $ b. $ 3,474 14,336 Marginal tax rate 15 % 25 % Average tax rate. 12.13 % 21.28 %
Please advise
Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the tax tables and tax rate schedules to determine tax liability. Required: a. Single taxpayer, taxable income of $30,916. b. Single taxpayer, taxable income of $97,463. Note: For all requirements, round "Average tax rate" to 2 decimal places. a. b. Tax liability Marginal tax rate % % Average tax rate % %
Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables and tax rate schedules to compute tax liability. Required: a. Single taxpayer, taxable income of $31,916. b. Single taxpayer, taxable income of $97,463. Note: For all requirements, round "Average tax rate" to 2 decimal places. a. b. Tax liability Marginal tax rate % % Average tax rate % %
Required: Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the appropriate Tax Tables and Tax Rate Schedules. a. Married taxpayers, who file a joint return, have taxable income of $39,821. b. Married taxpayers, who file a joint return, have taxable income of $63,790. (For all requirements, use the tax tables to compute tax liability. Round "Average tax rate" to 2 decimal places.) Tax liability Marginal tax rate Average tax rate a % b.
Which equation could be used to identify one of the following levels of Federal Incomne Tax withholding? PERCENTAGE METHOD FOR FIT WITHHOLDING MARRIED PERSON WEEKLY PAYROLL PERIOD Allowance Rate = $63.46 The amount of FIT withholding is... each w %3D . If he Weekly Taxable Wage any rin Over But not over. $0.00 0.10(income 58) $36.00 + 0.12(income 222) $171.36 + 0.22(income 588) $1 $222 222 588 588 1,117 Select one: O A. FIT = 37.70 + 0.12g; where g = gross pay in dollars. O B. FIT = 36 + 0.22(g - 222); where g = gross pay in dollars. O C. FIT = 171.36g - 129.36; where g = gross pay in dollars. O D. FIT = 36 + 0.12g - 26.64; where g = gross pay in dollars. Outi

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