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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
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 single woman with a taxable income of $78000
The tax owed is
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 $8700 up to $17,400 up to $12,400 15% $8701 to $35,350 $8701 to $35,350 $17,401 to $70,700 $12,401 to $47,350 25% $35,351 to $85,650 $35,351 to $71,350 $70,701 to $142,700 $47,351 to $122,300 28% $85,651 to $178,650 $71,351 to $108,725 $142,701 to $217,450 $122,301 to $198,050 33% $178,651 to $388,350 $108,726 to $194,175 $217,451 to $388,350 $198,051 to $388,350 35% more than $388,350 more than $194,175 more than $388,350 more than $388,350 Standard $5950 $5950 $11,900 $8700 Deduction Exemptions $3800 $3800 $3800 $3800 (per person)Step by Step Solution
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