What is Thomas's proportional tax rate for 2023? His information is below: 2022 Tax Rate 20% 2023 Tax Rate 30% Average Tax Rate 25% 2022 Tax Base $100,000 2023 Tax Base $130,000 2023 Tax Base Average $125,000 Group of answer choices $39,000 $20,000 $32,500 $31,250
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- Assuming Carding uses the OSD, how much is the total income tax due on his income in 2021? a. 202,000 b. 246,000 c. 265,000 d. 268,000What is the amount of the tax liability for a single person having taxable income of $59,200? Use the appropriate Tax Tables and Tax Rate Schedules 2022 Note: All answers should be rounded to the nearest dollar. Multiple Choice $7,326. $7,147. $8,647. $6,696.es Vinitpaul has the following information: AGI for 2022 Withholding for 2022 Total tax for 2021 Total tax for 2022 $ 155,000 $ 27,300 $ 31,200 $ 31,197 Required: a. How much must Vinitpaul pay in estimated taxes to avoid a penalty? Note: Round the final answer to nearest whole dollar amount. Minimum estimated tax payment b. If Vinitpaul had paid $900 per quarter, would he have avoided the estimated tax penalty?
- Use the Federal Income Tax levels to calculate the amount of tax owed and the tax rates: Federal Income Tax Table for 2020: Single Filers Tax Rate Taxable Income Bracket 10% $0 to $9,875 12% $9,876 to $40,125 22% $40,126 to $85,525 24% $85,526 to $163,300 32% $163,301 to $207,350 35% $207,351 to $518,400 37% $518,401 or more OASDI (Social Security) is 6.2% for incomes up to $137,700. Medicare is 1.45% with no income limit. An individual earns $62,900 per year. What is their marginal tax rate? (Enter your answer as a whole number and do not include the percent sign. Example: 10% is entered as 10)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 O $75,375 $19696.25 $105000 $72000 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 more41 Using the 2019 marginal tax rates provided in the table below, find the marginal and average tax rates for the incomes shown. Give all answers to two decimals. Part 1 What would be your federal income tax if your taxable income was $108,000.00? $ What is the average tax rate for $108,000.00 in taxable income? % Part 2 How much tax would you owe if your income increased by $25,000 to $133,000.00? $ What would be your average tax rate with $133,000.00 of taxable income? % Skip Start Solving Exit Exit Training M
- Vinitpaul has the following information: AGI for 2022 Withholding for 2022 Total tax for 2021 Total tax for 2022 Required: a. How much must Vinitpaul pay in estimated taxes to avoid a penalty? Note: Round the final answer to nearest whole dollar amount. Minimum estimated tax payment $ 155,000 $ 26,700 $ 30,800 $ 30,697 b. If Vinitpaul had paid $900 per quarter, would he have avoided the estimated tax penalty? Yes人 Use the 2020 Federal Tax Rates for Individuals to calculate the estimated taxes for a taxable income of $22,700. Tax rate 10% 2020 Federal Tax Rates for Individuals Taxable Income Bracket $0 to $9875 12% $9876 to $40,125 22% $40,126 to $85,525 24% $85,526 to $163,300 32% $163,301 to $207,350 35% $207,351 to $518,400 37 % $518,401 or moreHow much is the total income tax expense for the year 2022? A. 1,381,200 B. 1,350,000 C. 1,051,200 D.1,216,200
- Determine from the tax table or the tax rate schedule, whichever is appropriate, the amount of the income tax for each of the following taxpayers for 2023. Taxpayer(s) Filing Status Taxable Income Income Tax Macintosh Single $35,700 Hindmarsh MFS $62,000 Kinney MFJ $143,000 Rosenthal H of H $91,500 Wilk Single $21,400Required information [The following information applies to the questions displayed below.] Steve's tentative minimum tax (TMT) for 2023 is $245,000. Note: Leave no answer blank. Enter zero if applicable. a. What is his AMT if his regular tax is $230,000? Alternative minimum tax2023 TAXABLE INCOME FIRST $53,359 OVER $53,359 TO $106,717 OVER $106,717 TO $165,430 OVER $ $165,430 TO $237,675 OVER $235,675 FILL IN THE BLANK TAX RATE 15.00% 20.50% 26.00% 29.32% 33.00% C) The total income tax burden if your salary is $85,000. type your text here Based on the Canadian Federal Income Tax Brackets for 2023 shown above, calculate and input the numeric answers to the questions below. Round off your answers to the nearest dollar. Do not use $, decimals or comma. For example, instead of $23,486.52, write 23487. For answers requiring a tax rate, enter only the numeric value with two decimal places, with "%" symbol. For example, 20.50%).