meron is single and has taxable income of $93,656. Determine his tax liability using the tax tables and using the tax rate schedu und your intermediate computations and final answers to 2 decimal places.)

Q: During 2018, the Smiths and the Joneses both filed joint tax returns. For the tax year ended…

A: Answer:        Tax on Smith taxable income of $130000 based   on tax rates for joint returns…

Q: Cameron is single and has taxable income of $92,616. Determine his tax liability using the tax…

A: Tax liability of Cameron: Taxable income bracket Taxable Amount Tax rate Tax liability $ 0 to $…

Q: Johanna resides in Saskatchewan and has taxable income of $85,000 for the current year. Determine…

A: The amount of tax payable means the amount of tax that the taxpayer needs to pay. the amount of tax…

Q: Chuck, a single taxpayer, earns $77,000 in taxable income and $10,000 in interest from an investment…

A: Taxable income: It is the amount of income that is used to compute the amount tax has to be paid by…

Q: Otto and Monica are married taxpayers who file a joint tax return. For the current tax year, they…

A: Alternative minimum taxable income is the income on which a flat tax rate is applied. It usually…

Q: Ross is single with an adjusted gross income of $67,100, and he uses the standard deduction for…

A: It is the amount of tax payable to the government by the taxpayer on their taxable income. This tax…

Q: Martin, a single taxpayer, earns $96,000 per year in taxable income and an additional $12,000 per…

A: Marginal tax rate is the tax paid on additional income as the income increases, the tax liability…

Q: Ross is single with an adjusted gross income of $73,100, and he uses the standard deduction for…

A: It is the amount of tax payable to the government by the taxpayer on their taxable income. This tax…

Q: Keith is single with taxable income of $90,000. Use the 2021 tax rate schedule to calculate Keith's…

A: Lets understand the basics. As per IRS, there are seven brackets for the calculation of taxes which…

Q: "Xavier and his wife Maria have total W-2 income of $95,102. They will file their tax return as…

A: The income tax refers to the amount of tax that is put by the government on the income earned by…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: Amount of AMT Deduction phases out or decreases 25% for every increase in AMTI above $1,047,200…

Q: duela dent is single and had $189,000 in taxable income.  Using the rates from table 2.3 in the…

A: given that,    duela dent is a single filer and her taxable income = $189000 the federal standard…

Q: Miriam Anne is a single taxpayer. What federal taxes does she pay if her taxable income is (a)…

A: Given that: Miriam Anne is a single taxpayer.

Q: Lacy is a single taxpayer. In 2021, her taxable income is $46,400. What is her tax liability in each…

A: Taxable Income $46,400 Less: Qualified Dividend ($9,400) Income Taxed at ordinary rates $37,000…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: In the given case, Olga is married and files joint return with her Husband. Hence the phase out…

Q: Lacy is a single taxpayer. In 2021, her taxable income is $44,600. What is her tax liability in each…

A: All amounts are in dollar ($).

Q: Ross is single with an adjusted gross income of $68,100, and he uses the standard deduction for…

A: Income tax: It implies to a financial levy or charge that is imposed on the income of taxpayer by…

Q: Ross is single with an adjusted gross income of $69,100, and he uses the standard deduction for…

A:

Q: Lacy is a single taxpayer. In 2021, her taxable income is $44,600. What is her tax liability in each…

A: Taxable income would be any remuneration received by an individual or corporation that would be used…

Q: Joe and Jane Keller are a married couple who file a joint income taxreturn, where the tax rates are…

A: The marginal tax rate seems to be the sum of additional tax that must be paid for each new dollar of…

Q: Jaylen and Zan are married, filing jointly. Their total adjusted gross income was $80,000 and they…

A: Given: Gross income = $80,000 Standard deduction = $24,000

Q: Havel and Petra are married and will file a joint tax return. Havel has W-2 income of $38,840, and…

A: Their taxable income is $63,382 ($38,840+$49,642-$25,100). Remember that you need to subtract the…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: AMTI is alternate minimum tax amount that needs to be paid by the companies. This is different from…

Q: Your uncle has a taxable income of $96,412 last year. If he files as a head of household, what is…

A: Since the Taxable year is not mentioned in the question we are considering the last year 2020 as the…

Q: Brian and Kim have a 12-year-old child, Stan. For 2018, Brian and Kim have taxable income of…

A: Taxable Income:Taxable income refers to the base upon which an income tax system imposes tax.…

Q: Zack is single and  has collected the following information for preparing his 2021 taxes: Gross…

A: According to the given question,  we are required to compute the adjusted gross income and taxable…

Q: Cassy reports a gross tax liability of $1,190. She also claims $590 of nonrefundable personal…

A: Correct Answer = $ 585 Refund Calculation Calculaton Tax liability due / Refund of Cassy ($)…

Q: Brooklyn files as a head of household for 2021. She claimed the standard deduction of $18,800 for…

A: Brooklyn’s AMTI         =          $ 74,950

Q: Cameron is single and has taxable income of $92,616. Determine his tax liability using the tax…

A: Progressive Slab Rate: It is a system in which the rate of taxation rises as taxable income rises.…

Q: Jane Doe is single and claims 2 withholding allowances. If her weekly gross earning is $1,450, then…

A: Federal Withholding Tax: It is the tax which one pays to the government of their respective country…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: Since Olga is married and files Joint Return, the appropriate exemption would be $114,600. However,…

Q: Brian and Kim have a 12-year-old child, Stan. For 2018, Brian and Kim have taxable income of…

A: Stan has more than $2,100 unearned income, kiddle tax rates will be applicable on her income.

Q: Arno and Bridgette are married and have combined W-2 income of $78,917. They paid $389 when they…

A: Given information: A and B are filing married jointly return.Income as per W-2 - $78,917Taxes paid…

Q: In 2018, Lisa and Fred, a married couple, had taxable income of $337,500. If they were to file…

A: Compute the tax liability - separate filing   Lisa [$14,089.50 + ($137500-$82500) x 24%]…

Q: Jaylen and Zan are married, filing jointly. Their total adjusted gross income was $81,000 and they…

A: Jaylen and Zan are married, filing jointly. Their total adjusted gross income was $81,000 and they…

Q: Chuck, a single taxpayer, earns $76,300 in taxable income and $11,500 in interest from an investment…

A: A taxpayer is a person or a legal body (such as a corporation) who is obligated to pay a tax. The…

Q: nnie, age 70 and single, is claimed as a dependent on her daughter's tax return. During 2021, she…

A: Taxable Income = Gross Income - Deductions

Q: Eddie, a single taxpayer, has W-2 income of $36,741. Using the tax tables, he has determined that…

A: Wages and Tax statement:   The W-2 form means wages and tax statement. An employer is legally…

Q: nd will file a joint tax return. Havel has W-2 income of $38,924, and Petra has W-2 income of…

A: Tax refers to the percentile deduction imposed by the government on the income earned by an entity.

Q: tax liability, marginal tax rate, and average tax rate

A: Taxable income $45,000 Tax rate on first $9,525 10% Tax rate on $9,525 to $38,700 12% Tax rate…

Q: Sylvester files as a single taxpayer during 2021. He itemizes deductions for regular tax purposes.…

A: Formula: AMTI = Taxable income + Real estate tax + State income tax

Q: Seth and Vanessa are married and filing jointly. Their taxable income is $140,526. Use the Tax Rate…

A: Tax A tax may be defined as an involuntary contribution from individuals or corporations as required…

Q: Ross is single with an adjusted gross income of $67,100, and he uses the standard deduction for…

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: a. Bristol, who is single, has AMTI of $608,600. Her AMT exemption is $ X. b. Marley and Naila are…

A: AMT exemption amounts for 2021 (for taxes due in April 2022 or in October 2022 with an extension)…

Q: Maggie is filing taxes as a single filer with no kids. Her gross yearly income is $136,680, and her…

A: Charitable Contribution: In general, most of the taxpayers do cash contributions as charities and…

Q: Olga is married and files a joint tax return with her husband. What amount of AMT exemption may she…

A: The AMT is charged at two rates: 26% and 28%. For the year 2021, the AMT exemption level is $73,600…

Q: Campbell, a single taxpayer, earns $428,000 in taxable income and $3,400 in interest from an…

A: The tax liability of a taxpayer depends upon the taxable income and the filing status. The tax…

Q: Alan and Sara Winthrop are a married couple who file a joint income tax return. They have two…

A: Calculation of taxable income Particulars Amount Gross income 168300 Less: itemized deduction…

Filing Federal Income Tax Return

A tax is the amount of money paid to the government on the revenue earned by the individual or business organization. It acts as an income for the government and an expense for the individual or business organization. There are different regulations regarding filing an income tax return in other countries.