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Use the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried head of household with two dependent children. Gross
Use the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried head of household with two dependent children. Gross income: $71,000 Adjustments: none Deductions: $3093 state taxes $4000 theft loss Tax credit: $4000 2016 marginal tax rates up to $9275 up to $9275 Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard Deduction Exemptions (per person) 2016 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 Single Married Filing Separately Married Filing Jointly Head of Household up to $18,550 up to $13,250 $9276 to $37,650 $9276 to $37,650 $18,551 to $75,300 $13,251 to $50,400 $37,651 to $91,150 $37,651 to $75,950 $75,301 to $151,900 $50,401 to $130,150 $91,151 to $190,150 $75,951 to $115,725 $151,901 to $231,450 $130,151 to $210,800 $190,151 to $413,350 $115,726 to $206,675 $231,451 to $413,350 $210,801 to $413,350 $413,351 to $415,050 $206,676 to $233,475 $413,351 to $466,950 $413,351 to $441,000 more than $415,050 more than $233,475 more than $466,950 more than $441,000 $6300 $6300 $12,600 $9300 $4050 $4050 $4050 $4050
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