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Adam has $79,000 in taxable income this year. Tax Bracket Bottom of Bracket Top of Bracket Tax Liability for Bracket 8% $0 $11,600 $928 12%
Adam has $79,000 in taxable income this year. | |||
Tax Bracket | Bottom of Bracket | Top of Bracket | Tax Liability for Bracket |
8% | $0 | $11,600 | $928 |
12% | $11,600 | $46,600 | $4,200 |
15% | $46,600 | $116,600 | $10,500 |
23% | $116,600 | $216,600 | $23,000 |
31% | $216,600 | $416,600 | $62,000 |
37% | $416,600 | ||
Calculate their total tax liability for this year. |
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