Question
In: Finance
Duela Dent is single and had $189,000 in taxable income. Using the rates from Table 2.3...
Duela Dent is single and had $189,000 in taxable income. Using the rates from Table 2.3 in the chapter, calculate her income taxes. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
Taxable income
0-9525 10%
9525- 38,700 12%
38,700- 82,500 22%
82,500- 157,500 24%
157,500- 200,000 32%
Solutions
jeff jeffy answered 2 months agoRelated Solutions
2013 Individual Tax Rates Single Individuals If a Corporation's Taxable Income Is It Pays This Amount...
2013 Individual Tax Rates
Single Individuals
If a Corporation's Taxable Income Is
It Pays This
Amount on the
Base of the Bracket
Plus This Percentage
on the Excess over the
Base (Marginal Rate)
Average Tax
Rate at
Top of Bracket
Up to $8,925
$0
10.0%
10.0%
$8,925 - $36,250
892.50
15.0
13.8
$36,250 - $87,850
4,991.25
25.0
20.4
$87,850 - $183,250
17,891.25
28.0
24.3
$183,250 - $398,350
44,603.25
33.0
29.0
$398,350 - $400,000
115,586.25
35.0
29.0
Over $400,000
116,163.75
39.6...
2013 Individual Tax Rates Single Individuals If a Corporation's Taxable Income Is It Pays This Amount...
2013 Individual
Tax Rates
Single
Individuals
If a Corporation's Taxable Income Is
It Pays This
Amount on the
Base of the Bracket
Plus This Percentage
on the Excess over the
Base (Marginal Rate)
Average Tax
Rate at
Top of Bracket
Up to $8,925
$0
10.0%
10.0%
$8,925 - $36,250
892.50
15.0
13.8
$36,250 - $87,850
4,991.25
25.0
20.4
$87,850 - $183,250
17,891.25
28.0
24.3
$183,250 - $398,350
44,603.25
33.0
29.0
$398,350 - $400,000
115,586.25
35.0
29.0
Over $400,000
116,163.75
39.6...
Taxation table Income Tax Standard personal income tax rates Income band Taxable amount Rate K1 to...
Taxation table
Income Tax
Standard personal income tax rates
Income band
Taxable amount
Rate
K1 to K39,600
first K39,600
0%
K39,601 to 49,200
next K9,600
25%
K49,201 to K74,400
next K25,200
30%
Over K74,400
37.5%
Income from farming for individuals
K1 to K39,600
first K39,600
0%
Over K39,600
10%
Company Income Tax rates
On income from manufacturing and other
35%
On income from farming
10%
Capital Allowances
Implements, plant and machinery and commercial vehicles:
Wear and Tear Allowance –
Standard...
2018 Individual Tax Rates Single Individuals If Your Taxable Income Is You Pay This Amount on...
2018 Individual Tax Rates
Single Individuals
If Your Taxable Income Is
You Pay This
Amount on the
Base of the Bracket
Plus This Percentage
on the Excess over the
Base (Marginal Rate)
Average Tax
Rate at
Top of Bracket
Up to $9,525
$0
10.0
%
10.0
%
$9,525 - $38,700
952.50
12.0
11.5
$38,700 - $82,500
4,453.50
22.0
17.1
$82,500 - $157,500
14,089.50
24.0
20.4
$157,500 - $200,000
32,089.50
32.0
22.8
$200,000 - $500,000
45,689.50
35.0
30.1
Over $500,000
150,689.50...
Arthur Wesson is a single taxpayer and had $350,000 of alternative minimum taxable income for 2018....
Arthur Wesson is a single taxpayer and had $350,000 of
alternative minimum taxable income for 2018.
REQUIRED:
1) Calculate his alternative minimum tax..
2) Would it make a difference if he were married? Assume no
credits are available.
Please show all calculations.
Using the following table, calculate the taxes for an individual with taxable income of $61,000. 10...
Using the following table, calculate the taxes for an individual
with taxable income of $61,000.
10
%
Up to $10,100
15
%
$10,100–$42,500
25
%
$42,500–$99,600
28
%
$99,600–$198,400
33
%
$198,400–$411,150
35
%
Over $411,150
* Chuck, a single taxpayer, earns $70,000 in taxable income and $10,000 in interest from an...
* Chuck, a single taxpayer, earns $70,000 in taxable income and
$10,000 in interest from an investment in City of Heflin bonds.
Using the U.S. tax rate schedule, how much federal tax will he
owe?
* Chuck, a single taxpayer, earns $70,000 in taxable income and
$10,000 in interest from an investment in City of Heflin bonds.
What is his effective tax rate?
* Chuck, a single taxpayer, earns $70,000 in taxable income and
$10,000 in interest from an investment...
Based on the following table of the tax rates, what is the average tax rate for a firm with taxable income of $120,000?
Based on the following table of the tax rates, what is the
average tax rate for a firm with taxable income of $120,000?Taxable Income ($)Tax Rate0 – 50,00015%50,000 – 75,00025%75,000 – 100,00034%100,000 – 335,00039%39%20%34%25%None of the above
Susan is single with a gross income of $120,000 and a taxable income of $98,000. In...
Susan is single with a gross income of $120,000 and a taxable
income of $98,000. In calculating gross income, she properly
excluded $10,000 of tax-exempt interest income.
What is her total tax?
What is her marginal tax rate?
what is her average tax rate?
what is her effective tax rate?
In 2018, Jenny, a single taxpayer, had a $15,000 net short-term capital loss and taxable income...
In 2018, Jenny, a single taxpayer, had a $15,000 net short-term
capital loss and taxable income of $120,000. In 2019, Jenny has an
$18,000 long-term capital gain on one transaction and no other
capital gain or loss transactions. Which of the statements
below is correct?
a. Jenny has a 2019 $18,000 net capital gain.
b. Jenny has a 2019 $9,000 net capital loss.
c. Jenny has a 2019 $9,000 net capital gain.
d. Jenny has a...
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