Use the Tax Computation Worksheet, Exhibit 18-4, to calculate the tax liability for the following taxpayers earning $100,000 or above.
Name | Filing Status | Taxable Income | Tax Liability | |
15. | Rua | Head of Household | $175,800 | $39,810.00 |
To calculate: The tax liability for the tax payer Rua whose taxable income is $175,800.
Given Information:
The Person Rua has filed as the head of household with the taxable income of $175800.
Calculation:
Taxable income is defined as the income to which tax rates are functional in order to discover the total amount of tax payable for the year. Tax table is defined as the table which is used to find the income tax whose earnings are more than $100,000.
The followings steps are used to calculate
Step 1: The Person Rua has filed under the head of household and in the tax computation sheet, this category is under section D.
Step 2: Reading down the table EXHIBIT 18-4 for taxable income. The taxable income of Rua is in the range
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