   Chapter 18.III, Problem 15RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

# 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 determine To calculate: The tax liability for the tax payer Rua whose taxable income is$175,800.

Explanation

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 Over $127,550 but not ever$206,600

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