Question
ax Liability.Compute Lana's 2018 tax liability, using the tax table TABLE 1.2: Federal Income Tax Rates and Brackets for Individual Returns (2018) Tax Rates Taxable
ax Liability.Compute Lana's 2018 tax liability, using the tax table
TABLE 1.2: Federal Income Tax Rates and Brackets for Individual Returns (2018) | |||
Tax Rates | Taxable Income | Taxes | |
10.0% | $0 to $9,525 | 10% of taxable income | |
12.0% | $9,526 to $38,700 | $952.50, plus 12% of the amount over $9,525 | |
22.0% | $38,701 to $82,500 | $4,453.50, plus 22% of the amount over $38,700 | |
24.0% | $82,501 to $157,500 | $14,089.50, plus 24% of the amount over $82,500 | |
32.0% | $157,501 to $200,000 | $32,089.50, plus 32% of the amount over $157,500 | |
35.0% | $200,001 to $500,000 | $45,689.50, plus 35% of the amount over $200,000 | |
37.0% | Over $500,000 | $150,689.50, plus 37% of the amount over$500,000 |
, if she is single and earned $75,500
in wages. She will take the standard deduction. Assume her adjusted gross income is the same as her earned income.
Lana's tax liability is=$
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