Question
1. Mark is a U.S. veteran who served in the U.S. Army and is receiving $10,000 annually in disability compensation. Based on the 2021 tax
1. Mark is a U.S. veteran who served in the U.S. Army and is receiving $10,000 annually in disability compensation. Based on the 2021 tax federal income tax brackets, Mark, who is a single filer, will owe:
Mark will owe 10% of taxable income | ||
Mark will owe $9,,950 at 10% and $995 plus 12% for any amount over $9.950 | ||
Mark will not owe any taxes since he is a U.S. Veteran. | ||
None of these are correct. |
3. in 2021, Jose is married to Kim, his college sweetheart. Jose reported taxable income of $42,000 driving a delivery van for Amazon and Kim reported taxable income of $48,000 working for a small accounting firm. Jose and Kim file jointly. What is their total income tax liability for 2021.
$19,800 | ||
$15,176 | ||
$11,297 | ||
None of these are correct |
2. In 2021, Rebecca is a single tax filer working for Google. She earned $136,000 and her taxable income after deductions was $118,000. When filing her income taxes, Rebecca's total Federal income tax liability for 2021 is:
$22,341 | ||
$28,320 | ||
$14,751 | ||
none of these are correct |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started