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Using the 2015 federal income tax brackets and rates, how much federal income tax should Sally report if she earned taxable income of $65,138 and
Using the
2015
federal income tax brackets and rates, how much federal income tax should
Sally
report if she earned taxable income of
$65,138
and
$15,162
from her two jobs?
Taxable Income (Income tax brackets) | Tax Rates |
$44,701 or less | 15% of taxable income less than or equal to$44,701; plus |
$44,701 to$89,401 | 22% of taxable income greater than$44,701 and less than or equal to$89,401; plus |
$89,401 to$138,586 | 26% of taxable income greater than$89,401 and less than or equal to$138,586; plus |
Over $138,586 | 29% of taxable income greater than$138,586 |
Sally
should report a federal income tax of
$nothing.
(Round to the nearest cent as needed.)
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