Using the Tax Schedule for Head of Household, calculate the tax for a head of household with a taxable income of $200,000. 2017 Tax Rate Schedules Schedule X-Single Schedule Z-Head of household of the amoun! of the If line 5 is: The tax is: If line 5 is: The tax is: But not amount Over- But not Over- Over- over- Over-- over- $13,350 $0 + 10% $0 $0 S9,325 $0 + 10% $0 13,350 50,800 9,325 13,350 50,800 1,335 + 15% 9,325 37,950 932.50 + 15% 6,952.50 +25% 27,052.50 + 23% 49,816.50 + 33% 117,202.60 + 35% 37,950 50,800 131,200 5,226.25 + 25% 16,713.75 + 28% 46,643.75 + 33% 37,950 91,900 131,200 131,200 212,500 191,650 416,70D 91,900 191,650 91,900 212,500 416,700 444,550 212,50D 191,650 416,700 416,700 416,700 418,400 416,700 418,400 120,910.25 +35% 444,550 444,550 and greater 126,950 +39.6% 418,400 and greater 121,505.25 +39.6% Schedule Y-2-Married filing separately of the amount Schedule Y-1-Married filing jointly or Qualifying widow(er)| If line 5 is: The tax is: of the amount over- f line 5 is: The tax is: But no! But nol over- Over- Over- Dver- over- $9,325 $0 + 10% $0 $0 $18,650 $0 + 10% $0 9,325 37,950 932.50 + 15% 9,325 1,865 + 15% 10,452.50 + 25% 29,752.50 + 28% 52,222.50 +33% 112,728 + 35% 18,650 75,900 153,100 75,900 18,650 75,900 153,100 233,350 416,700 416,700 5,226.25+ 25% 14,876.25 + 23% 26,111.25 + 33% 56,364 +35% 37,950. 76,550 37,950 153,100 76,550 116,675 76,550 233,350 116,675 208,350 233,350 116,675 208,350 470,700 416,700 208,350 235,350 470,700 and greater 131,628 + 39.6% 470,700 ER 235,350 and greater 65,814 + 39.6% 235,350
Using the Tax Schedule for Head of Household, calculate the tax for a head of household with a taxable income of $200,000. 2017 Tax Rate Schedules Schedule X-Single Schedule Z-Head of household of the amoun! of the If line 5 is: The tax is: If line 5 is: The tax is: But not amount Over- But not Over- Over- over- Over-- over- $13,350 $0 + 10% $0 $0 S9,325 $0 + 10% $0 13,350 50,800 9,325 13,350 50,800 1,335 + 15% 9,325 37,950 932.50 + 15% 6,952.50 +25% 27,052.50 + 23% 49,816.50 + 33% 117,202.60 + 35% 37,950 50,800 131,200 5,226.25 + 25% 16,713.75 + 28% 46,643.75 + 33% 37,950 91,900 131,200 131,200 212,500 191,650 416,70D 91,900 191,650 91,900 212,500 416,700 444,550 212,50D 191,650 416,700 416,700 416,700 418,400 416,700 418,400 120,910.25 +35% 444,550 444,550 and greater 126,950 +39.6% 418,400 and greater 121,505.25 +39.6% Schedule Y-2-Married filing separately of the amount Schedule Y-1-Married filing jointly or Qualifying widow(er)| If line 5 is: The tax is: of the amount over- f line 5 is: The tax is: But no! But nol over- Over- Over- Dver- over- $9,325 $0 + 10% $0 $0 $18,650 $0 + 10% $0 9,325 37,950 932.50 + 15% 9,325 1,865 + 15% 10,452.50 + 25% 29,752.50 + 28% 52,222.50 +33% 112,728 + 35% 18,650 75,900 153,100 75,900 18,650 75,900 153,100 233,350 416,700 416,700 5,226.25+ 25% 14,876.25 + 23% 26,111.25 + 33% 56,364 +35% 37,950. 76,550 37,950 153,100 76,550 116,675 76,550 233,350 116,675 208,350 233,350 116,675 208,350 470,700 416,700 208,350 235,350 470,700 and greater 131,628 + 39.6% 470,700 ER 235,350 and greater 65,814 + 39.6% 235,350
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN:9781337117005
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter3: Preparing Your Taxes
Section: Chapter Questions
Problem 1FPE: Calculating marginal tax rates. Piper Wells is single and received the items and amounts of income...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Recommended textbooks for you
PFIN (with PFIN Online, 1 term (6 months) Printed…
Finance
ISBN:
9781337117005
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning
Pfin (with Mindtap, 1 Term Printed Access Card) (…
Finance
ISBN:
9780357033609
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning
PFIN (with PFIN Online, 1 term (6 months) Printed…
Finance
ISBN:
9781337117005
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning
Pfin (with Mindtap, 1 Term Printed Access Card) (…
Finance
ISBN:
9780357033609
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning