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Joanna is single and has 1 dependent children. She earns a gross yearly salary of $64,721. She will also make the following tax-deductible purchase:
Joanna is single and has 1 dependent children. She earns a gross yearly salary of $64,721. She will also make the following tax-deductible purchase: Educational expenses: $5,263 Compute her final income tax. Use the following information: 2021 Head of Household If Taxable Income is Between: $0-$14,200 $14,201-$54,200 $54,201-$86,350 $86,351-$164,900 $164,901-$209,400 $209,401-$523,600 The Tax Due is: 10% of taxable income $1,420 plus 12% of the amount over $14,200 $6,220 plus 22% of the amount over $54,200 $13,293 plus 24% of the amount over $86,350 $31,145 plus 32% of the amount over $164,900 $46,385 plus 35% of the amount over $209,400 $156,355 plus 37% of the amount over $523,600 $523,601 or more Standard deduction for heads of households: $18,800 Round your answer to the nearest dollar.
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