Question
Use this table to answer the following questions: 2018 Federal Income / Tax Rate $0 - $9,525 / 10.0% $9,526 - $ 38,700 / 15.0%
Use this table to answer the following questions:
2018 Federal Income / Tax Rate
$0 - $9,525 / 10.0%
$9,526 - $ 38,700 / 15.0%
$38,701 - $93,700 / 25%
$93,701 - $195,450 / 28.0%
$195,451 - $424,950 / 33.0%
1- Using the table, what is the marginal income tax rate for someone who makes $77,000 per year?
2- What is the average tax rate for someone who makes $77,000 per year?
3- What is the total tax on income, including social security tax (assume zero state and local income taxes), for an employee who makes $77,000 per year?
4- What is the new average tax rate for a person who currently makes $180,000 per year and receives a $10,000 raise?
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