Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the following tax brackets to answer question 4. Rate For Unmarried Individuals, Taxable Income Over For Married Individuals Filing Joint Returns, Taxable Income Over
Use the following tax brackets to answer question 4.
Rate | For Unmarried Individuals, Taxable Income Over | For Married Individuals Filing Joint Returns, Taxable Income Over | For Heads of Households, Taxable Income Over |
10% | $0 | $0 | $0 |
12% | $9,700 | $19,400 | $13,850 |
22% | $39,475 | $78,950 | $52,850 |
24% | $84,200 | $168,400 | $84,200 |
32% | $160,725 | $321,450 | $160,700 |
35% | $204,100 | $408,200 | $204,100 |
37% | $510,300 | $612,350 | $510,300 |
Your taxable income (after deductions) is $38,000. How much do you own in taxes, if you file as a single person?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started