Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tax rate Single 10% $0 - $9,700 12% $9,701 - $39,475 22% $39,476 - $84,200 24% $84,201 - $160,725 32% $160,726 - $204,100 35% $204,101

image text in transcribed

Tax rate Single 10% $0 - $9,700 12% $9,701 - $39,475 22% $39,476 - $84,200 24% $84,201 - $160,725 32% $160,726 - $204,100 35% $204,101 - $510,300 37% Over $510,300 2019 ordinary-income tax brackets Married filing jointly or Head of household surviving spouse $0 - $13,850 $0 - $19,400 $13,851 - $52,850 $19,401 - $78,950 $52,851 - $84,200 $78,951 - $168,400 $84,201 - $160,700 $168,401 - $321,450 $160,701 - $204,100 $321,451 - $408,200 $204,101 - $510,300 $408,201 - $612,350 Over $510,300 Over $612,350 Married filing separately $0 - $9,700 $9,701 - $39,475 $39,476 - $84,200 $84,201 - $160,725 $160,726 - $204,100 $204,101 - $306,175 Over $306,175 The 2019 standard deduction amounts are as follows: Single or married filing seperately: $12,200, Married filing jointly: $24,400, Head of Household: $18,350 A Head of Household filer has a total income of $94,000 in 2019 and uses a standard deduction. The taxable income is They are in the tax bracket. The pay a total tax of

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

Step: 3

blur-text-image

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

Listed Volatility And Variance Derivatives

Authors: Yves Hilpisch

1st Edition

1119167914, 978-1119167914

More Books

Students also viewed these Finance questions