Table 7.13. 2014 single taxpayer tax calculation [R180] Taxable income more than less than Тах $0 $9,075 $36,900 $89,350 $186,350 $405,100 $406,750 10% of taxable income $9,075 $908 + 15% of the excess over $9,075 $36,900 $89,350 $186,350 $5,081 + 25% of the excess over $39,600 $18,194 + 28% of the excess over $89,350 $45,354 + 33% of the excess over $186,350 $117,541 + 35% of the excess over $405,100 $118,189 + 39.6% of the excess over $406,750 $405,100 $406,750
Table 7.13. 2014 single taxpayer tax calculation [R180] Taxable income more than less than Тах $0 $9,075 $36,900 $89,350 $186,350 $405,100 $406,750 10% of taxable income $9,075 $908 + 15% of the excess over $9,075 $36,900 $89,350 $186,350 $5,081 + 25% of the excess over $39,600 $18,194 + 28% of the excess over $89,350 $45,354 + 33% of the excess over $186,350 $117,541 + 35% of the excess over $405,100 $118,189 + 39.6% of the excess over $406,750 $405,100 $406,750
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
7.8.25 d)
use table 7.13
the effective tax rate for an income was calculated by doing 15856/80000 which equaled 19.82%.
compute the effective tax rate a second time, as a weighted average of the rates in the various brackets, using as weights the amount of income subject to tax at each rate. you should get the same answer.
![**Table 7.13. 2014 Single Taxpayer Tax Calculation [R180]**
This table outlines the federal income tax structure for single taxpayers for the year 2014. The table is divided into two main columns: Taxable Income and Tax, providing a step-by-step breakdown of tax obligations.
**Taxable Income:**
- **More than $0** but **less than $9,075**:
Tax is 10% of taxable income.
- **More than $9,075** but **less than $36,900**:
Tax is $908 plus 15% of the excess over $9,075.
- **More than $36,900** but **less than $89,350**:
Tax is $5,081 plus 25% of the excess over $36,900.
- **More than $89,350** but **less than $186,350**:
Tax is $18,194 plus 28% of the excess over $89,350.
- **More than $186,350** but **less than $405,100**:
Tax is $45,354 plus 33% of the excess over $186,350.
- **More than $405,100** but **less than $406,750**:
Tax is $117,541 plus 35% of the excess over $405,100.
- **More than $406,750**:
Tax is $118,189 plus 39.6% of the excess over $406,750.
This table provides a clear understanding of how taxes were calculated for single taxpayers in 2014, considering different income levels and corresponding tax rates.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a1b2b9d-136a-4887-96f9-8b3f93dfa3b9%2F3a36b9a7-d8dd-423a-8402-9fcb9ccd778d%2Fvyit4at_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Table 7.13. 2014 Single Taxpayer Tax Calculation [R180]**
This table outlines the federal income tax structure for single taxpayers for the year 2014. The table is divided into two main columns: Taxable Income and Tax, providing a step-by-step breakdown of tax obligations.
**Taxable Income:**
- **More than $0** but **less than $9,075**:
Tax is 10% of taxable income.
- **More than $9,075** but **less than $36,900**:
Tax is $908 plus 15% of the excess over $9,075.
- **More than $36,900** but **less than $89,350**:
Tax is $5,081 plus 25% of the excess over $36,900.
- **More than $89,350** but **less than $186,350**:
Tax is $18,194 plus 28% of the excess over $89,350.
- **More than $186,350** but **less than $405,100**:
Tax is $45,354 plus 33% of the excess over $186,350.
- **More than $405,100** but **less than $406,750**:
Tax is $117,541 plus 35% of the excess over $405,100.
- **More than $406,750**:
Tax is $118,189 plus 39.6% of the excess over $406,750.
This table provides a clear understanding of how taxes were calculated for single taxpayers in 2014, considering different income levels and corresponding tax rates.
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