41 Using the 2019
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter9: Individuals As Taxpayers
Section: Chapter Questions
Problem 4CE
Related questions
Question
41
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? %
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