# Taxes paid for a given income levelHilary is getting ready to do.docx

This preview shows page 1 - 3 out of 3 pages.

# Taxes paid for a given income level Hilary is getting ready to do her taxes. She is single and lives in Miami. Hilary earned $300,000 in taxable income in 2015. She reviews the following table, which shows the IRS tax rates for a single taxpayer in 2015. Based on the IRS table, Hilary calculates that her marginal tax rate is ( 10% OR 15% OR 25% OR 28% OR 33% OR 35%) when her annual taxable income is $300,000. Hilary calculates that she owes ($46,075.25 OR $78,372.50 OR $81,683.75 OR $82,606.25 OR $99,000.00) in income taxes for 2015. Hilary then calculates that her average tax rate is ( 23% OR 26% OR 28% 31% OR 33%) , based on the annual income level and the amount of taxes she owes for 2015. After figuring out what she owes in taxes in 2015, Hilary

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture