calculate the marginal tax rate, average tax rate, and total tax due for taxable income of $60,000 for a single individual. compare and contrast how corporations and partnerships handle taxes and bankruptcy

Table 1.2020 Tax Brackets and Rates For Single Rate Individuals, Taxable Income Over For Married Individuals Filing Joint Returns, Taxable income Over For Heads of Households, Taxable Income Over 10% Se $0 so 12% $9.875 $19.750 $14, 100 22% $40, 125 980,250 $53, 700 24% $85,525 $85,500 $171.050 $326.600 32 $163, 308 $ 163, 300 35% $287.350 $414, 788 $207, 350 379 $518, 480 $622,050 $518, 400 Sou Internal Revenue Services