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2021 Marginal Tax Rates Rate For Single Individuals 10% Up to $9,950 12% $9,951 to $40,525 22% $40,526 to $86,375 24% $86,376 to $164,925 32%
2021 Marginal Tax Rates | |
Rate | For Single Individuals |
10% | Up to $9,950 |
12% | $9,951 to $40,525 |
22% | $40,526 to $86,375 |
24% | $86,376 to $164,925 |
32% | $164,926 to $209,425 |
35% | $209,426 to $523,600 |
37% | $523,601 or more |
- | Personal Exemption |
$ 12,000 | Standard Deduction |
$ 2,000 | Child Credit per child |
$ 10,000 | S&L Tax Deduction Limit |
Source: Internal Revenue Service |
Eileen is a human resource manager who earns $110825 per year and is a single parent to 2 children. She paid 18399 in state and local income, property and sales taxes.
According to the tax table above what is Eileen's effective income tax rate?
There is one standard deduction allows per tax filer. State and local tax deductions are capped at 10,000. There is no personal income tax exemption
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