John makes $300,000 as a single filer. How much is he likely to pay in taxes using marginal tax rate 2024 tax brackets Tax rate 10% 12% 22% 24% 32% 35% 37% Single filers $11,600 or less $11,601 to $47,150 $47,151 to $100,525 $100,526 to $191,950 $191,951 to $243,725 $243,726 to $609,350 $609,351 or more Source: Internal Revenue Service Married couples filing jointly $23,200 or less $23,201 to $94,300 $94,301 to $201,050 $201,051 to $383,900 $383,901 to $487,450 $487,451 to $731,200 $731,201 or more Married couples filing separately $11,600 or less $11,601 to $47,150 $47,151 to $100,525 $100,526 to $191,150 $191,151 to $243,725 $243,276 to $365,600 $365,601 or more Head of household $16,550 or less $16,551 to $63,100 $63,101 to $100,500 $100,501 to $191,150 $191,151 to $243,700 $243,701 to $609,350 $690,351 or more

John makes $300,000 as a single filer. How much is he likely to pay in taxes using marginal tax rate 2024 tax brackets Tax rate 10% 12% 22% 24% 32% 35% 37% Single filers $11,600 or less $11,601 to $47,150 $47,151 to $100,525 $100,526 to $191,950 $191,951 to $243,725 $243,726 to $609,350 $609,351 or more Source: Internal Revenue Service Married couples filing jointly $23,200 or less $23,201 to $94,300 $94,301 to $201,050 $201,051 to $383,900 $383,901 to $487,450 $487,451 to $731,200 $731,201 or more Married couples filing separately $11,600 or less $11,601 to $47,150 $47,151 to $100,525 $100,526 to $191,150 $191,151 to $243,725 $243,276 to $365,600 $365,601 or more Head of household $16,550 or less $16,551 to $63,100 $63,101 to $100,500 $100,501 to $191,150 $191,151 to $243,700 $243,701 to $609,350 $690,351 or more

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter1: Federal Income Taxation—an Overview

Section: Chapter Questions

Problem 44P

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