Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. taxable income rate $0 $9,525 10.0% ...

Taxable income Rate $0 $9,525 10.0% ...

70.2K

Verified Solution

Question

Finance

Taxable income

Rate
$0 $9,525 10.0%
$9,526 $38,700 12.0%
$38,701 $82,500 22.0%
$82,501 $157,500 24.0%
$157,501 $200,000 32.0%
$200,001 $500,000 35.0%
$500,001 or more 37%

Using the previous tax table, compute the tax liability for the individual in the scenario presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for the individual in the scenario.

Juanitas Tax Scenario

Juanita is a young professional with taxable income of $169,500 as an advertising account executive.

What is Juanitas total tax liability?

(Note: Round your answer to the nearest cent, if necessary.)

What is Juanitas top marginal tax rate?

What is Juanita's average tax rate?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Please assist with finding the mean, standard deviation and coefficient variation for the monthly profit of...

Statistics
Q

12.Larry decide to begin saving towards the purchase of a backup generator in 5 years. If...

Finance
Q

This criterion is linked to a Learning Outcome Compare & contrast leadership styles between the education...

Psychology
Q

Explain two reasons why plate structures affects significantly the lightweight (i.e. ship hull, machinery, outfit and...

Mechanical Engineering
Q

An ultra-short-wave local radio-station with frequency f = 100 MHz has power of 1 kW und...

Electrical Engineering
Q

FASB has develop new accounting standards for accounting for leases. These new standards are not covered...

Accounting
Q

Here is our probable hominin Ardipithecus ramidus cranium from Ethiopia The cranium itself it not...

Biology
Q

Define the fibonacci numbers by f 0 0 f 1 1 and then recursively for...

Basic Math
Q

You may need to use the appropriate appendix table or technology to answer this question...

Statistics
Q

7 Evaluate the piecewise function for f 2 f x a undefined b 0 2x...

Calculus
Q

On July 1, 2022, Oriole Co. pays $15,200 to Sheffield Insurance Co. for a 4-year...

Accounting
Q

Sheffeld Architects incorporated as licensed architects on April 1,2022. During the first month of the...

Accounting