Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
If a taxpayer has taxable income $80,900, what is her tax bracket? (Taxpayer filing status is married filing jointly)

If a taxpayer has taxable income $80,900, what is her tax bracket? (Taxpayer filing status is married filing jointly)

Intermediate Algebra
Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
See similar textbooks
icon
Related questions
Question
Refer the tax table to answer the following question. TABLE 8.1 2016 Marginal Tax Rates, Standard Deductions, and Exemptions Married and each Unmarried, divorced, or legally separated Married and both Unmarried and paying more than half the cost of partner files a separate tax return partners file a single tax return supporting a child or parent Married Filing Separately Married Head of Таx Rate Single Filing Jointly Household 10% up to $9275 up to $9275 up to $18,550 up to $13,250 15% $9276 to $37,650 $9276 to $37,650 $18,551 to $75,300 $13,251 to $50,400 25% $37,651 to $91,150 $37,651 to $75,950 $75,301 to $151,900 $50,401 to $130,150 28% $91,151 to $190,150 $75,951 to $115,725 $151,901 to $231,450 $130,151 to $210,800 33% $190,151 to $413,350 $115,726 to $206,675 $231,451 to $413,350 $210,801 to $413,350 35% $413,351 to $415,050 $206,676 to $233,475 $413,351 to $466,950 $413,351 to $441,000 39.6% more than $415,050 more than $233.475 more than $466,950 more than $441,000 Standard Deduction $6300 $6300 $12,600 $9300 Exemptions (per person) $4050 $4050 $4050 $4050 If a taxpayer has taxable income $80,900, what is her tax bracket? (Taxpayer filing status is married filing jointly) 10% 28% 15% 25%
Transcribed Image Text:Refer the tax table to answer the following question. TABLE 8.1 2016 Marginal Tax Rates, Standard Deductions, and Exemptions Married and each Unmarried, divorced, or legally separated Married and both Unmarried and paying more than half the cost of partner files a separate tax return partners file a single tax return supporting a child or parent Married Filing Separately Married Head of Таx Rate Single Filing Jointly Household 10% up to $9275 up to $9275 up to $18,550 up to $13,250 15% $9276 to $37,650 $9276 to $37,650 $18,551 to $75,300 $13,251 to $50,400 25% $37,651 to $91,150 $37,651 to $75,950 $75,301 to $151,900 $50,401 to $130,150 28% $91,151 to $190,150 $75,951 to $115,725 $151,901 to $231,450 $130,151 to $210,800 33% $190,151 to $413,350 $115,726 to $206,675 $231,451 to $413,350 $210,801 to $413,350 35% $413,351 to $415,050 $206,676 to $233,475 $413,351 to $466,950 $413,351 to $441,000 39.6% more than $415,050 more than $233.475 more than $466,950 more than $441,000 Standard Deduction $6300 $6300 $12,600 $9300 Exemptions (per person) $4050 $4050 $4050 $4050 If a taxpayer has taxable income $80,900, what is her tax bracket? (Taxpayer filing status is married filing jointly) 10% 28% 15% 25%
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
SEE MORE TEXTBOOKS