knoxschools.org bookmarkse "Your Eighty Dollar.E sdsE-Question 20/28A BOOKMARKNEXT20 According to the spreadsheet below, what tax rate would a married couple pay if their combined income was $865,000.2016 Federal Income Tax Brackets自商酒SINGLEMARRIED, FILING JOINTLYHEAD OF HOUSEHOLDINCOME RANGE TAXINCOME RANGE TAXINCOME RANGE TAX$0- $18,550 10%$18,551- $75,300 15%$75,301- $151,900 25%$0- $9,275 10%$0- $13,250 10%$13,251- $50,400 15%$9,276- $37,650 15%$37,651- $91,150 25%$50,401-$130,150 25%$91,151-$190,150 28%$190,151-$413,350 33%$413,351- $415,050 35%$415,051+$151,901- $231,450 28%$130,151-$210,800 28%$231,451-$413,350 33%$413,351-$466,950 35%$466, 951+$210,801- $413,350 33%$413,351 - $441,000 35%39.6%39.6%$441,001+39.6%Source: Internal Revenue Service, "Revenue Procedures 2015-5310%28%35%39.6%DELL->@23&234.6.78.WeyCUO O O O

Given: Income tax brackets for different entities is mentioned for the year 2016.

20 According to the spreadsheet below, what tax rate would a married couple pay if their combined income was $865,000. 2016 Federal Income Tax Brackets SINGLE MARRIED, FILING JOINTLY HEAD OF HOUSEHOLD INCOME RANGE TAX INCOME RANGE TAX INCOME RANGE TAX $0- $18,550 10% $18,551- $75,300 15% $0- $9,275 10% $0- $13,250 10% $9,276- $37,650 15% $13,251- $50,400 15% $37,651- $91.150 25% $75,301- $151,900 25% $151,901-$231,450 20% $231,451-$413,350 33% $50,401-$130,150 25% $91,151-$190,150 28% $190,151-$413.350 33% $413.351-$415.050 35% $130,151-$210,800 28% $210,801-$413,350 33% $413,351-5466,950 35% $413,351-$441,000 35% $415,051 39.4% $466,951+ 39.0% $441,001+ 39.6% Source Internal Revenue Service "Revenue Procedures 2015-53 A 10% B 28% c 35% 39.6%

20 According to the spreadsheet below, what tax rate would a married couple pay if their combined income was $865,000. 2016 Federal Income Tax Brackets SINGLE MARRIED, FILING JOINTLY HEAD OF HOUSEHOLD INCOME RANGE TAX INCOME RANGE TAX INCOME RANGE TAX $0- $18,550 10% $18,551- $75,300 15% $0- $9,275 10% $0- $13,250 10% $9,276- $37,650 15% $13,251- $50,400 15% $37,651- $91.150 25% $75,301- $151,900 25% $151,901-$231,450 20% $231,451-$413,350 33% $50,401-$130,150 25% $91,151-$190,150 28% $190,151-$413.350 33% $413.351-$415.050 35% $130,151-$210,800 28% $210,801-$413,350 33% $413,351-5466,950 35% $413,351-$441,000 35% $415,051 39.4% $466,951+ 39.0% $441,001+ 39.6% Source Internal Revenue Service "Revenue Procedures 2015-53 A 10% B 28% c 35% 39.6%

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter30: Government Budgets And Fiscal Policy

Section: Chapter Questions

Problem 6SCQ: What taxes would an individual pay if he were self-employed and the business is not incorporated?

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(1) nicol's 2013 income was $ 51,309. she is single and claims 2 exemptions and take the standard deducation. the 2013 tax exemption is $ 3,900 and the standard deduction for someone who is single is $ 6,100 . if nicole's tax braket is 25% and her tax is $ 4991.25+ 25% of the taxable income exceeding $36,250 . what is the total tax she owes for 2013 ? (a) $4792.48 (b) $5975.75 (c) $5699.50 (d) $5700.00 (e) $5281.00
Calculate Your Taxes To find your net pay, you'll need to first calculate your taxes. Start period 02 | 01|2019 End period 02 | 15| 2019 Find the tax percentages for each type of tax on your pay stub and insert them here. Then, press the calculate button when you're ready. Gross Pay $1,837.00 Earnings Taxes Deductions FEDERAL % of $1,837.00 $1,837.00 Federal (8.24%) FICA Medicare (1.45%) FICA MEDICARE % of $1,837.00 FICA Social Security (6.20%) FICA SOCIAL SECURITY % of $1,837.00 State - OK (3.86%) STATE % of $1,837.00 Total Disclaimer: Tax numbers are for illustrative purposes only. Net Pay Calculate
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Use the table to answer the questions. In relation to taxes, Ramone will be filing as married filing jointly. Ramone is making $156,141.00 this year as an employee of Rust-Eze; he has no other income. Do not consider any deductions or expenses in this question. Married filing jointly or Married filing separ Single S0-$8,350 $8,351-S33,950 $33.951-$82,250 | $82,251-$171,550| |$171,551-$372,950| $372,951+ Tax rate qualified widow(er) SO-$16,700 $16,701-$67,900 S67,901-$137,050 $137,051-$208.850 $208,851-$372,950 $372,951+ S0-$8,350 SO-$11,950 S11,951-$45,500 S45,501-$117,450 $117,451-$190,200 10% $8,351-$33,950 $33,951-S68,525 S68,526-$104,425 | 25% 28% 33% 35% S104,426-$186,475 $190,201-S372,950 $186,476+ $372,951+ Use the table to calculate how much money Ramone will owe in taxes under a progressive tax program. Calculate how much money Ramone will owe in taxes under a proportional tax (flat tax) rate of 30%
taxable income on ructions, and publications, visit www.irs.gov or call RM (800-829-3676). u e-tile your tax return? Electronicaly fled returns are less kely to have ma errors resulting in notices such as this one. t's free to file your taxes electronicaly Go to www.irs.govlefile for information and instructions • You can contact us by mail at the address at the top of the first page of this notice de sure to include your Social Securiy Cumber and the tar year and form number you are writing about • Keep this notice for your records • Activity on your 2020 account may be detaying the relese of your neftund receive a notice explaining this delay • Estimated Tax Filers Note, i# you pn sta taes c Hill Graw P Type here to search 直。 000'006$ ) $750,000. eBook The total revenues of Harvey's firm in the first year were 81°F Sunny ^ 10/17/2021 3:57 PM
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