Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question Hele 1.2.13 Use the 2012 marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar

image text in transcribed
image text in transcribed
Question Hele 1.2.13 Use the 2012 marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar as needed A head of household with a taxable income of $75,000 and a 56500 tax credit Click the icon to view the 2012 marginal tax rates. The tax owed is s (Round to the nearest dollar as needed) arginal tax rates to compute the tax owed by the following person. Round ladie 2012 Marginal Tax Rates 2012 Marginal Tax Rates, Standard Deductions, and Exemptions Unmarried, divorced, Married and each partner Married and both Unmarried and paying or legally separated files a separate tax return partners file a single more than half the cost tax return of supporting a child or parent Tax Rate Single Married Filing Separately Married Filing Jointly Head of Household 10% up to $8700 up to 58700 up to $17.400 up to $12,400 15% $8701 to $35 350 58701 to $35,350 $17.401 to $70,700 $12,401 to $47,350 25% $35,351 to 585,650 $35,351 to $71,350 $70,701 to $142,700 547,351 to $122,300 28% $85.651 to $178,650 571,351 to 5108,725 5142 701 to $217,450 $122 301 to $198,050 33% 5178,651 to $388,350 $108,726 to 5194 175 5217.451 to $388 350 $198,051 to $388,350 35% more than $388,350 more than $194, 175 more than 5388, 350 more than $388,350 Standard $5950 $5950 $11.900 $8700 Deduction Exemptions $3800 $3800 $3800 $3800 (per person) Print Done the answer box and then click Check

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

Recommended Textbook for

The Basics Of Quality Auditing

Authors: Ronald Blank

1st Edition

1138438863, 9781138438866

More Books

Students also viewed these Accounting questions

Question

=+16.10. 2.19 16.9 | Assume u(1) Answered: 1 week ago

Answered: 1 week ago