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Please answer all parts in detail and show your work! Thank you!! 1. (6 points) Using the following 2018 Marginal Tax Brackets Single Filers Rate
Please answer all parts in detail and show your work! Thank you!!
1. (6 points) Using the following 2018 Marginal Tax Brackets Single Filers Rate Tax 0 $10,000 $25,000 $50,000 $100,000 $10,000 $25,000 $50,000 $100,000 $250,000 Total Tax paid 0% 15% 25% 32% 37% Assuming no other considerations, deductions, or income, what is the amount of tax paid by a single-filer who earned $195,000 this year? a. b. What will the marginal tax bracket be for a single individuals who is filing a tax return, in which she made $85,257 last year? Bill is a single taxpayer who made $62,658 last year, what is his total tax paid and his actual or effective tax rate (sometimes also called the average tax rate)? cStep by Step Solution
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