Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help. also please work out all steps so I can understand better! Married Filing Jointly or Qualifying Widow(er): If Taxable Income Is: Not over

please help. also please work out all steps so I can understand better! image text in transcribed
image text in transcribed
Married Filing Jointly or Qualifying Widow(er): If Taxable Income Is: Not over $19,900 Over $19,900 but not over $81,050 Over $81,050 but not over $172,750 Over $172,750 but not over $329,850 Over $329,850 but not over $418,850 Over $418,850 but not over $628,300 Over $628,300 Standard Deduction Single $12,550 MFJ $25,100 The Tax Is: 10% of taxable income $1,990, plus 12% of the excess over $19,900 $9,328, plus 22% of the excess over $81,050 $29,502, plus 24% of the excess over $172,750 $67,206, plus 32% of the excess over $329,850 $95,686, plus 35% of the excess over $418,850 $168,993, plus 37% of the excess over $628,300 Additions for age and the blind Single - $1,750 MFJ $1,400 Exemption Amount - \$0 Individuals taxed at: Rate Single Taxable income MFJ Taxable Income 0% Up to $40,400 Up to $80,800 15%>$40,400 but $80,001 but

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions