Use the 2021 marginal tax rates to compute the income tax owed by the following person. Filing status: single Gross income: $80,000 Adjustments: $9000 Deductions: $12,500 mortgage interest $4100 property taxes $4000 charitable contributions Tax credit: none i Click the icon to view the 2021 marginal tax rates. 2021 Marginal Tax Rates. Tax Rate 10% 12% 22% 24% 32% 35% 37% Standard Unmarried, divorced, or legally separated Single up to $9950 $9951 to $40,525 $40,526 to $ $86,375 $86,376 to $164,925 $164,926 to $209,425 $209,426 to $523,600 more than $523,600 Deduction $12,550 2021 Marginal Tax Rates and Standard Deductions Married and each partner files a separate tax return Married Filing Separately up to $9950 $9951 to $40,525 $40,526 to $86,375 $86,376 to $164,925 $164,926 to $209,425 $209,426 to $314,150 more than $314,150 $12,550 Married and both partners file a single tax return Married Filing Jointly up to $19,900 $19,901 to $81,050 $81,051 to $172,750 $172,751 to $329,850 $329,851 to $418,850 $418,851 to $628,300 more than $628,300 $25,100 Unmarried and paying more than half the cost of supporting a child or parent Head of Household up to $14,200 $14,201 to $54,200 $54,201 to $86,350 $86,351 to $164,900 $164,901 to $209,400 $209,401 to $523,600 more than $523,600 $18,800 ☑
Use the 2021 marginal tax rates to compute the income tax owed by the following person. Filing status: single Gross income: $80,000 Adjustments: $9000 Deductions: $12,500 mortgage interest $4100 property taxes $4000 charitable contributions Tax credit: none i Click the icon to view the 2021 marginal tax rates. 2021 Marginal Tax Rates. Tax Rate 10% 12% 22% 24% 32% 35% 37% Standard Unmarried, divorced, or legally separated Single up to $9950 $9951 to $40,525 $40,526 to $ $86,375 $86,376 to $164,925 $164,926 to $209,425 $209,426 to $523,600 more than $523,600 Deduction $12,550 2021 Marginal Tax Rates and Standard Deductions Married and each partner files a separate tax return Married Filing Separately up to $9950 $9951 to $40,525 $40,526 to $86,375 $86,376 to $164,925 $164,926 to $209,425 $209,426 to $314,150 more than $314,150 $12,550 Married and both partners file a single tax return Married Filing Jointly up to $19,900 $19,901 to $81,050 $81,051 to $172,750 $172,751 to $329,850 $329,851 to $418,850 $418,851 to $628,300 more than $628,300 $25,100 Unmarried and paying more than half the cost of supporting a child or parent Head of Household up to $14,200 $14,201 to $54,200 $54,201 to $86,350 $86,351 to $164,900 $164,901 to $209,400 $209,401 to $523,600 more than $523,600 $18,800 ☑
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...
Related questions
Question
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell