Use the 2012 marginal tax rates to compute the tax owed by the following person. Round...
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Use the 2012 marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar as needed. A single woman with a taxable income of $13,000 and a $3000 tax credit iClick the icon to view the 2012 marginal tax rates. The tax owed is dollars. (Round to the nearest dollar as needed.) 2012 Marginal Tax Rates 2012 Marginal Tax Rates, Standard Deductions, and Exemptions Unmarried, divorced, or legally separated Married and each partner files a separate tax return Single up to $8700 $8701 to $35,350 $35,351 to $85,650 $85,651 to $178,650 $178,651 to $388,350 more than $388,350 Tax Rate 10% 15% 25% 28% 33% 35% Standard $5950 Deduction Exemptions $3800 (per person) Married and both partners file a single tax return Married Filing Separately Married Filing Jointly up to $8700 $8701 to $35,350 $35,351 to $71,350 $71,351 to $108,725 $108,726 to $194,175 more than $194,175 $5950 $3800 up to $17,400 $17,401 to $70,700 $70,701 to $142,700 $142,701 to $217,450 $217,451 to $388,350 more than $388,350 $11,900 $3800 Unmarried and paying more than half the cost of supporting a child or parent Head of Household up to $12,400 $12,401 to $47,350 $47,351 to $122,300 $122,301 to $198,050 $198,051 to $388,350 more than $388,350 $8700 $3800 Print Done Use the 2012 marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar as needed. A single woman with a taxable income of $13,000 and a $3000 tax credit iClick the icon to view the 2012 marginal tax rates. The tax owed is dollars. (Round to the nearest dollar as needed.) 2012 Marginal Tax Rates 2012 Marginal Tax Rates, Standard Deductions, and Exemptions Unmarried, divorced, or legally separated Married and each partner files a separate tax return Single up to $8700 $8701 to $35,350 $35,351 to $85,650 $85,651 to $178,650 $178,651 to $388,350 more than $388,350 Tax Rate 10% 15% 25% 28% 33% 35% Standard $5950 Deduction Exemptions $3800 (per person) Married and both partners file a single tax return Married Filing Separately Married Filing Jointly up to $8700 $8701 to $35,350 $35,351 to $71,350 $71,351 to $108,725 $108,726 to $194,175 more than $194,175 $5950 $3800 up to $17,400 $17,401 to $70,700 $70,701 to $142,700 $142,701 to $217,450 $217,451 to $388,350 more than $388,350 $11,900 $3800 Unmarried and paying more than half the cost of supporting a child or parent Head of Household up to $12,400 $12,401 to $47,350 $47,351 to $122,300 $122,301 to $198,050 $198,051 to $388,350 more than $388,350 $8700 $3800 Print Done
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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