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- Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $59,500. Tax amount b. A single person with taxable income of $35,800. Tax amount c. Married taxpayers filing jointly with taxable income of $71,100. Tax amountDetermine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the tax tables to determine tax liability. Required: Married taxpayers, taxable income of $97, 463. Married taxpayers, taxable income of $66,829. Note: For all requirements, round "Average tax rate" to 2 decimal places.Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the tax tables to determine tax liability. Required: a. Married taxpayers, taxable income of $30,916. b. Single taxpayer, taxable income of $66,829. Note: For all requirements, round "Average tax rate" to 2 decimal places. a. b. Tax liability Marginal tax rate % % Average tax rate % %
- Use the appropriate Tax Tables and Tax Rate Schedules, determine the amount of tax liability in each of the following instances. (All answers should be rounded to the nearest dollar.) a. A single person with taxable income of $103,500. b. A married couple filing jointly with taxable income of $37,700. c. A head of household with taxable income of $87,925. d. A person filing married filing separately with taxable income of $64,000. e. A married couple filing jointly with taxable income of $144,600.Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables to compute tax liability. Required: a. Married taxpayers, who file a joint return, have taxable income of $32,366. b. Single taxpayer, has taxable income of $67,342. Note: For all requirements, round "Average tax rate" to 2 decimal places. Tax liability a. $ b. $ 3,474 14,336 Marginal tax rate 15 % 25 % Average tax rate. 12.13 % 21.28 %Use the following information and the flow chart from the module to calculate: Adjusted gross income ( AGI) Taxable income Show your work for each calculation to receive full credit. An individual has the following information for the current tax year. Assume they do not itemize and they file as head of household. Income from wages, $80,000 Interest earned on savings, $150 IRA contribution, $5,000 Checking account interest earned, $75 Standard deduction for Head of Household: $20,800 Child and Dependent Care Tax credit, $3,000 Filing status: Head of Household
- Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables to compute tax liability. Required: Married taxpayers, who file a joint return, have taxable income of $97, 463. Married taxpayers, who file a joint return, have taxable income of $ 66,829. Note: For all requirements, round "Average tax rate" to 2 decimal places.Determine the tax liability, marginal tax rate, and average tax rate (rounded to two decimal places) in each of the following cases. Use the tax tables to determine tax liability. Case 1: Married taxpayers, taxable income of $36,162: Case 2: Single taxpayer, taxable income of $66,829:Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables to compute tax liability. Required: Married taxpayers, who file a joint return, have taxable income of $32,116. Single taxpayer, has taxable income of $67,057. Note: For all requirements, round "Average tax rate" to 2 decimal places.
- Required: Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the appropriate Tax Tables and Tax Rate Schedules. a. Married taxpayers, who file a joint return, have taxable income of $39,821. b. Married taxpayers, who file a joint return, have taxable income of $63,790. (For all requirements, use the tax tables to compute tax liability. Round "Average tax rate" to 2 decimal places.) Tax liability Marginal tax rate Average tax rate a % b.What would be the marginal and average tax rates for a married couple with taxable income of $89,600? For an unmarried taxpayer with the same income? Use Table 3.7. (Do not round intermediate calculations. Enter the marginal tax rate as a percent rounded to 1 decimal place. Enter the average tax rate as a percent rounded to 1 decimal place.) a. What would be the marginal tax rate for a married couple with income of $89,600? Marginal tax rate for a married couple b. What would be the average tax rate for a married couple with income of $89,600? Average tax rate for a married couple % Marginal tax rate for an unmarried taxpayer c. What would be the marginal tax rate for an unmarried taxpayer with income of $89,600? % Average tax rate for an unmarried taxpayer % d. What would be the average tax rate for an unmarried taxpayer with income of $89,600? %Determine the average tax rate and the marginal tax rate for each of the following instances: Use the appropriate Tax Tables and Tax Rate Schedules. a. A married couple filing jointly with taxable income of $32,991. b. A married couple filing jointly with taxable income of $192,257. c. A married couple filing separately, one spouse with taxable income of $43,885 and the other with $56,218. d. A single person with taxable income of $79,436. e. A single person with taxable income of $297,784. f. A head of household with taxable income of $96,592. g. A qualifying widow with taxable income of $14,019. h. A married couple filing jointly with taxable income of $11,216. (For all requirements, when computing average tax rate, use the Tax Tables for taxpayers with taxable income under $100,000 and the Tax Rate Schedules for those with taxable income above $100,000. Round "Average tax rate" to 1 decimal place.) Complete this question by entering your answers in the tabs below. Req a and b Req c…
