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Joanna is single and has 2 dependent children. She earns a gross yearly salary of $63693. She will also make the following tax-deductible purchase: Educational
Joanna is single and has 2 dependent children. She earns a gross yearly salary of $63693. She will also make the following tax-deductible purchase:
Educational expenses: $4740
Compute her final income tax. Use the following information:
Standard deduction for heads of households: $18,000 Round your answer to the nearest dollar.
Heads of Household If Taxable Income Is Between: 0 $13,600 $13,601 $51,800 $51,801 $82,500 $82,501 $157,500 $157,501 $200,000 $200,001 $500,000 $500,001 + The Tax Due Is 10% of taxable income $1,360 + 12% of the amount over $13,600 $5,944 + 22% of the amount over $51,800 $12,698 + 24% of the amount over $82,500 $30,698 + 32% of the amount over $157,500 $44,298 + 35% of the amount over $200,000 $149,298 + 37% of the amount over $500,000Step by Step Solution
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