Marginal tax rates: Partner​ A, a single​ taxpayer, is one of two partners in a small business. As​ such, she receives​ pass-through income that is taxed at her personal tax rates. After all adjustments and deductions have been​ made, including the​ 20% qualified business income​ deduction, she is preparing to calculate her taxes owed for the year. Using the tax rate schedule given here, perform the​ following:a. Find the marginal tax rate for the following levels of sole proprietorship earnings before​ taxes: $ 15,200 = 12% (i got this correct)The total taxes due for earnings before taxes of $15,200 is ​$____?I don't understand how to calculate this portion?I did:Base Tax + Marginal Rate * Amount over base bracket953 + 12% * $9525 = $2096 (the 2096 came in wrong and it said $1634 is the correct answer and i don't understand where that number came from?)

Determine the self-employment tax for an individual who has $111,700 in wages, $4,000 in interest income, and $20,000 in self-employment income. The self employment tax is________?

Use the 2021 marginal tax rates to compute the tax owed by the couple with the given filing status, taxable income, and tax credit. married filing jointly with a taxable income of $192,000 and a $8000 tax credit Click the icon to view the 2021 marginal tax rates. The tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)

A surviving spouse with one dependent child has a gross income of 68,170 per year. If 3,000 is withheld from the taxpayers wages for federal income taxes, what is the amount of the taxpayers refund or tax due?

Vipul k

Wage-bracketed tax tables are:  Select one: Charts that list all of the deductions and credits filers can use on their tax returns. Charts that provide the amounts to be deducted for income taxes based on earnings, marital status, and number of allowances claimed. Interactive tablets offered by the IRS. Charts that lists all of the tax deductions available to filers.

As a tax return preparer for The Fernando Rodriguez Tax & Accounting Service, you have been asked to calculate the missing information for one of the firm's tax clients. The following table gives the standard deduction for various filing statuses. Standard Deductions Single or married filing separately $12,000 Married filing jointly or surviving spouse $24,000 Head of household $18,000 65 or older and/or blindand/or someone else canclaim you (or your spouseif filing jointly) as a dependent: Varies(See www.irs.gov for information.) Using the standard deduction table above, complete the following table (in $).   Name Filing Status Income Adjustments toIncome Adjusted GrossIncome StandardDeduction ItemizedDeductions TaxableIncome Campbell Married filingjointly $58,320 $1,560 $ $     $5,910 $ When finding your client's taxable income, which deduction did you use?

Havel and Petra are married and will file a joint tax return. Havel has W-2 income of $38,924, and Petra has W-2 income of $49,729.Use the appropriate Tax Tables and Tax Rate Schedules.   Required: What is their tax liability using the Tax Tables? What is their tax liability using the Tax Rate Schedule? (Round your intermediate computations and final answer to 2 decimal places.)

Determine the amount of the child tax credit in each of the following cases: Answer is complete but not entirely correct. Child Tax Credit Allowed a. A single parent with modified AGI of $214,700 and one child age 4. $ 1,250 b. A single parent with modified AGI of $79,300 and three children ages 7, 9, and 12. $ 6,000 × c. A married couple, filing jointly, with modified AGI of $409,233 and two children age 14 and 16. d. A married couple, filing jointly, with modified AGI of $133,355 and one child, age 13. $ 3,538 $ 2,000

Determine the maximum contribution that can be made to a Keogh plan in each of the following cases. In all instances, the individual is self-employed, and the self-employment tax reduction has already been taken. Required: a. Self-employment income of $61,800. b. Self-employment income of $61,800 and wage income of $32,000. c. Self-employment income of $125,000. d. Self-employment income of $319,000. Mc Graw Hill 22 é a. Maximum Keogh plan contribution b. Maximum Keogh plan contribution c. Maximum Keogh plan contribution d. Maximum Keogh plan contribution F2 Answer is complete but not entirely correct. Z 3 80 F3 E 4 F6 7 ወ F7 .— 8 Y U DII F8 9 F9