The table below shows the tax brackets for 2015 for single workers. Taxable Income Tax Rate $0 to $9,225 10% $922.50 plus 15% of the amount over $9,225 $5,156.25 plus 25% of the amount over $37,450 $90,751 to $189,300 $18,481.25 plus 28% of the amount over $90,750 $189,301 to $411,500 $46,075.25 plus 33% of the amount over $189,300 $411,501 to $413,200 $119,401.25 plus 35% of the amount over $411,500 $119,996.25 plus 39.6% of the amount over $413,200 $9,226 to $37,450 $37,451 to $90,750 $413,201 or more Calculate the income tax for a single person who has $132,200 of taxable income

The table below shows the tax brackets for 2015 for single workers. Taxable Income Tax Rate $0 to $9,225 10% $922.50 plus 15% of the amount over $9,225 $5,156.25 plus 25% of the amount over $37,450 $90,751 to $189,300 $18,481.25 plus 28% of the amount over $90,750 $189,301 to $411,500 $46,075.25 plus 33% of the amount over $189,300 $411,501 to $413,200 $119,401.25 plus 35% of the amount over $411,500 $119,996.25 plus 39.6% of the amount over $413,200 $9,226 to $37,450 $37,451 to $90,750 $413,201 or more Calculate the income tax for a single person who has $132,200 of taxable income

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...

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