Question
Use the following tax rates and income brackets for 2015 to answer the following question(s). Josh earned $82,500 in taxable income, all from wages and
Use the following tax rates and income brackets for 2015 to answer the following question(s).
Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes for the year 2015?
Tax Rates | Individual Returns Joint Returns |
10% | $0 to $9,075 $0 to $18,150 |
15% | $9,076 to $36,900 $18,151 to $73,800 |
25% | $36,901 to $89,350 $73,801 to $148,850 |
28% | $89,351 to $186,350 $148,851 to $226,850 |
33% | $186,351 to $405,100 $226,851 to $405,100 |
35% | $405,101 to$406,750 $405,101 to $457,600 |
Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes for the year 2015? Round to the nearest dollar.
A. $18,425
B. $13,750
C. $12,285
D. $16,481
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Get StartedRecommended Textbook for
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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