Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard Deduction Exemptions (per person) $4,100 nd Tina's adjusted gross income. 91766 nd Tina's federal tax. 0-9,225 0-18,450 0-13,150 9,226-37,450 18,451-74,900 9,226-37,450 13,151-50,200 37,451-90,750 74,901-151,200 37,451-75,600 50,201-129,600 90,751-189,300 151,201-230,450 75,601-115,225 129,601-209,850 189,301-411,500 230,451-411,500 115,226-205,750 209,851-411,500 411,501-413,200 411,501-464,850 205,751-232,425 411,501-439,000 413,201+ 232,426+ 439,001+ $6,050 $5950 $9,200 nd Tina's taxable income. 81616 Submit Question Filing Jointly Filing Separately Income Brackets 0-9,225 464,851+ $12,100 $4,100 ina, a single women, earned wages of $93482, received $1342 in interest from a savings account, an ontributed $3058 to a tax-deffered saving plans. She contributed $2634 to charity. nd Tina's gross income. 94824 Household $4,100 $4,100

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Use the Marginal Tax Rates below to answer the questions.
Filing Status
Tax Rate
10%
15%
25%
28%
33%
35%
39.6%
Standard
Deduction
Exemptions
(per person)
Single
Find Tina's federal tax.
413,201+
$6,050
Submit Question
$4,100
Find Tina's adjusted gross income. 91766
Find Tina's taxable income. 81616
Marginal Tax Rates
Married
Filing Jointly
0-9,225
0-18,450
0-13,150
9,226-37,450
18,451-74,900 9,226-37,450
13,151-50,200
37,451-90,750 74,901-151,200 37,451-75,600 50,201-129,600
90,751-189,300 151,201-230,450 75,601-115,225 129,601-209,850
189,301-411,500 230,451-411,500 115,226-205,750 209,851-411,500
411,501-413,200 411,501-464,850 205,751-232,425 411,501-439,000
232,426+
$5950
464,851+
$12,100
Married
Filing Separately
$4,100
Income Brackets
0-9,225
Head of
Household
$4,100
Tina, a single women, earned wages of $93482, received $1342 in interest from a savings account, and
contributed $3058 to a tax-deffered saving plans. She contributed $2634 to charity.
Find Tina's gross income. 94824
439,001+
$9,200
$4,100
Transcribed Image Text:Use the Marginal Tax Rates below to answer the questions. Filing Status Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard Deduction Exemptions (per person) Single Find Tina's federal tax. 413,201+ $6,050 Submit Question $4,100 Find Tina's adjusted gross income. 91766 Find Tina's taxable income. 81616 Marginal Tax Rates Married Filing Jointly 0-9,225 0-18,450 0-13,150 9,226-37,450 18,451-74,900 9,226-37,450 13,151-50,200 37,451-90,750 74,901-151,200 37,451-75,600 50,201-129,600 90,751-189,300 151,201-230,450 75,601-115,225 129,601-209,850 189,301-411,500 230,451-411,500 115,226-205,750 209,851-411,500 411,501-413,200 411,501-464,850 205,751-232,425 411,501-439,000 232,426+ $5950 464,851+ $12,100 Married Filing Separately $4,100 Income Brackets 0-9,225 Head of Household $4,100 Tina, a single women, earned wages of $93482, received $1342 in interest from a savings account, and contributed $3058 to a tax-deffered saving plans. She contributed $2634 to charity. Find Tina's gross income. 94824 439,001+ $9,200 $4,100
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