FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:12/2/23, 11:25 AM
2023 Tax Rate Schedules
Individuals
Schedule X-Single
If taxable income is over: But not over:
$
0
$ 11,000
$ 44,725
$ 95,375
$ 182.100
$ 231,250
$ 578,125
ezt.prod.mheducation.com/Media/Connect_Production/bne/accounting/spilker_15e/taxrateschedule2023.htm
$ 95,350
$ 182,100
$ 231,250
$578,100
$ 11,000
$ 44,725
$ 95,375
$ 182,100
$ 231,250
$ 578,125
Schedule Z-Head of Household
If taxable income is over: But not over:
$
0
$ 15,700
$ 15,700
$ 59,850
$ 59,850
$ 95,350
Schedule Y-1-Married Filing Jointly or Qualifying surviving spouse
If taxable income is over: But not over:
The tax is:
$
0
$ 22,000
$ 22,000
$ 89,450
$ 89,450
$ 190,750
$364,200
$ 462,500
$ 693,750
$ 190.750
$364,200
9
$ 462,500
$ 693,750
$
0
$ 11,000
$ 44,725
$ 95,375
$ 182,100
$ 231,250
$ 346,875
The tax is:
$ 182,100
$ 231,250
$578,100
10% of taxable income
$1,100 plus 12% of the excess over $11,000
$5,147 plus 22% of the excess over $44,725
$16,290 plus 24% of the excess over $95,375
$37,104 plus 32% of the excess over $182,100
$52,832 plus 35% of the excess over $231,250
$174,238.25 plus 37% of the excess over $578,125
10% of taxable income
$2,200 plus 12% of the excess over $22,000
$10,294 plus 22% of the excess over $89,450
$32,580 plus 24% of the excess over $190,750
$74,208 plus 32% of the excess over $364,200
$105,664 plus 35% of the excess over $462,500
$186,601.5 plus 37% of the excess over $693,750
The tax is:
10% of taxable income
$1,570 plus 12% of the excess over $15,700
$6,868 plus 22% of the excess over $59,850
$14,678 plus 24% of the excess over $95,350
$35,498 plus 32% of the excess over $182,100
$51,226 plus 35% of the excess over $231,250
$172,623.5 plus 37% of the excess over $578,100
Schedule Y-2-Married Filing Separately
If taxable income is over: But not over:
$ 11,000
10% of taxable income
$ 44,725
$ 95,375
$ 182,100
$1,100 plus 12% of the excess over $11,000
$5,147 plus 22% of the excess over $44,725
$16,290 plus 24% of the excess over $95,375
$ 231,250 $37,104 plus 32% of the excess over $182,100
$346,875 $52,832 plus 35% of the excess over $231,250
$93,300.75 plus 37% of the excess over $346,875
The tax is:
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![Required information
[The following information applies to the questions displayed below.]
Lacy is a single taxpayer. In 2023, her taxable income is $50,800. What is her tax liability in each of the following
alternative situations? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference.
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
b. Her $50,800 of taxable income includes $3,800 of qualified dividends.
Tax liability](https://content.bartleby.com/qna-images/question/53419bf8-add0-48cb-b87d-efce75dfc052/c07904a1-b258-4dcf-adb4-cc48ae44315d/2yidgxl_processed.jpeg)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Lacy is a single taxpayer. In 2023, her taxable income is $50,800. What is her tax liability in each of the following
alternative situations? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference.
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
b. Her $50,800 of taxable income includes $3,800 of qualified dividends.
Tax liability
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