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2. Calculating tax liabilities Calculating Taxable income Rate 10.0% 15.0% 25.0% Taxable income $1 - 59,075 $9,076 - $36,900 $36,901 - $89,350 $89,351 - $186,350
2. Calculating tax liabilities Calculating Taxable income Rate 10.0% 15.0% 25.0% Taxable income $1 - 59,075 $9,076 - $36,900 $36,901 - $89,350 $89,351 - $186,350 $186,351 - $405,100 $405,101 - $406,750 Over $406,751 28.0% 33.0% 35.0% 39.6% Using the previous tax table, compute the tax Mability for each individual in the scenarios presented, rounding the ability to the nearest dollar. In addition, use the dropdown fists to identify the marginal tax rate and average tax rate for both Jen and me Jen's Tax Scenario Jen is a young professional who lives in downtown St. Louis. She has taxable income of $95.235 as an advertising account executive for Fitcom Corporation Jen is a young professional who lives in downtown St. Louis. She has taxable income of $95,235 as an advertising account executive for Fitcom Corporation What is Jen's tax liability? $ What is Jen's top marginal tax rate? What is Jen's average tax rate? Jim's Tax Scenario Jim is a young professional who lives in downtown Chicago. He has taxable income of $62,500 as a medical sales rep for Diusitech Inc. What is Jim's tax liability? $ What is Jim's top marginal tax rate? What is Jim's average tax rate
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