Use the 2016 marginal tax rates to compute the income tax owed by the following person. Single male, no dependents. Gross income: $89,000 Adjustments: $4000 Deductions: $27,000 mortgage interest $4775 property taxes $1000 charitable contributions Tax credit: none
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- Estimating taxable income, tax liability, and potential refund. Arabella Cunningham is 24 years old and single, lives in an apartment, and has no dependents. Last year she earned 55,000 as a sales representative for Planning Associates; 3,910 of her wages was withheld for federal income taxes. In addition, she had interest income of 142. She takes the standard deduction. Calculate her taxable income, tax liability, and tax refund or tax owed for 2018.Calculating marginal tax rates. Lacey Hansen is single and received the items and amounts of income shown below during 2018, as shown below. Determine the marginal tax rate applicable to each item. Note that if the item is not taxable, the marginal rate is 0.Use the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried head of household with two dependent children. Gross income: $47,000 Adjustments: none Deductions: $4676 state taxes $1000 theft loss Tax credit: $2000 The income tax owed is $
- Use the 2016 marginal tax rates to compute the income tax owed by the following person. Single male, no dependents. Gross income:$90,000 Adjustments: $1000 Deductions:$25,000 mortgage interest $4916 property taxes $4000 charitable contributions chUse the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried head of household with two dependent children. Gross income: $47,000 Adjustments: none Deductions: $4676 state taxes $1000 theft loss Tax credit: $2000 The income tax owed is $Use the 2016 marginal tax rates to compute the tax owed by the following person. unmarried head of household with two dependent children. Gross income:$57,000 Adjustment:none Deduction:$4790 state taxes $1000 theft loss Tax credit: $1000 The income tax owed is $_
- Use the 2016 marginal tax rates to compute the income tax owed by the following person. Single male, no dependents. Gross income:$94,000 Adjustments:$2000 Deductions:$34,000 mortgage interest $4095 property taxes $3000 charitable contributions Tax credit:none i Click the icon to view the 2016 marginal tax rates. The income tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)Use the 2016 marginal tax rates to compute the income tax owed by the following person. Single male, no dependents. Gross income:$83,000 Adjustments: $1000 Deductions:$30,000 mortgage interest $4101 property taxes $4000 charitable contributions Tax credit:none Click the icon to view the 2016 marginal tax rates. *** The income tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)Use the 2016 marginal tax rates to compute the income tax owed by the following person. Single male, no dependents. Gross income:$82,000 Adjustments: $2000 Deductions: $27,000 mortgage interest $4278 property taxes $4000 charitable contributions Tax credit:none Click the icon to view the 2016 marginal tax rates. The income tax owed is $. (Type an integer or a decimal. Round to the nearest cent as needed.)
- Use the 2012 marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar as needed. a single male, no dependents. Gross income: $84,000 Deductions: $31,000 mortgage interest $4795 property taxes $4000 charitable contributions Adjustments: $3000 Tax credit: none Click the icon to view the 2012 marginal tax rates. The income tax owed is $ (Round to the nearest cent as necessary.) MatiUse the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried head of household with two dependent children. Gross income: $63,000 Adjustments: none Deductions: $3480 state taxes $1000 theft loss Tax credit: $3000 i Click the icon to view the 2016 marginal tax rates. The income tax owed is $. (Type an integer or a decimal. Round to the nearest cent as needed.) 2016 marginal tax rates 2016 Marginal Tax Rates, Standard Deductions, and Exemptions Unmarried and paying Unmarried, divorced, Married and each partner or legally separated Married and both files a separate tax return partners file a single more than half the cost tax return of supporting a child or parent Tax Rate Single Married Filing Separately Married Filing Jointly Head of Household 10% up to $9275 up to $9275 up to $18,550 up to $13,250 15% $9276 to $37,650 $9276 to $37,650 $18,551 to $75,300 $13,251 to $50,400 25% $37,651 to $91,150 $37,651 to $75,950 $75,301 to $151,900 $50,401 to…Use the 2016 marginal tax rates to compute the income tax owed by the following person. Unmarried head of household with two dependent children. Gross income: $63,000 Adjustments: none Deductions: $3480 state taxes $1000 theft loss Tax credit: $3000 i Click the icon to view the 2016 marginal tax rates. The income tax owed is $. (Type an integer or a decimal. Round to the nearest cent as needed.)