Marginal and average tax rates Partner A a single taxpayer, is one of two partners in...

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Marginal and average tax rates Partner A a single taxpayer, is one of two partners in a small business. As such, she receives pass-through income that is taxed at her personal tax rates. After all adjustments and deductions have been made, including the 20% qualified business income deduction, she is preparing to calculate her taxes owed for the year. Using the tax rate schedule given here O perform the following a. Calculate the tax liability, after-tax eamings, and average tax rates for the following levels of partnership eamings before taxes: $14,900, $80,100, $304,000, $494,000, $1.1 milion, $1.7 milion; and $1.9 b. Plot the average tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis). What generalization can be made conceming the relationship between these variables? million a. Calculate the tax liability, after-tax earings, and average tax rates for the following levels of partnership eamings before taxes: $14,000, $80, 100, $304,000, $494,000; $1,100,000 $1.7 million and $1.9 million The tax liability for eamings before taxes of $14,900 is $(Round to the nearest dollar) More info Tax Rates-Single Taxpayers-2018 Range of taxable income Tax calculation Base tax . (Marginal rate x amount over base bracket) 500 $9.525 50 (10%) amount over 801 9.525 to 38,700 953 (12% amount over 9,525) 38,700 to 82.500 4454 (22% x amount over 38,700) 82,500 157,500 14,000 +(24% amount over 82.500) 157.500 10 200.000 32,000 (32% x amount over 157,500) 200.0000 500,000 45,090 05% amount over 200,000) Over 500,000 150,000 07% x amount over 500.000) Print Done Marginal and average tax rates Partner A a single taxpayer, is one of two partners in a small business. As such, she receives pass-through income that is taxed at her personal tax rates. After all adjustments and deductions have been made, including the 20% qualified business income deduction, she is preparing to calculate her taxes owed for the year. Using the tax rate schedule given here O perform the following a. Calculate the tax liability, after-tax eamings, and average tax rates for the following levels of partnership eamings before taxes: $14,900, $80,100, $304,000, $494,000, $1.1 milion, $1.7 milion; and $1.9 b. Plot the average tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis). What generalization can be made conceming the relationship between these variables? million a. Calculate the tax liability, after-tax earings, and average tax rates for the following levels of partnership eamings before taxes: $14,000, $80, 100, $304,000, $494,000; $1,100,000 $1.7 million and $1.9 million The tax liability for eamings before taxes of $14,900 is $(Round to the nearest dollar) More info Tax Rates-Single Taxpayers-2018 Range of taxable income Tax calculation Base tax . (Marginal rate x amount over base bracket) 500 $9.525 50 (10%) amount over 801 9.525 to 38,700 953 (12% amount over 9,525) 38,700 to 82.500 4454 (22% x amount over 38,700) 82,500 157,500 14,000 +(24% amount over 82.500) 157.500 10 200.000 32,000 (32% x amount over 157,500) 200.0000 500,000 45,090 05% amount over 200,000) Over 500,000 150,000 07% x amount over 500.000) Print Done