Hi, Im just having some trouble with the last 3 sub questio.docx

This preview shows page 1 - 4 out of 5 pages.

Background image
Hi, I'm just having some trouble with the last 3 sub questions. Thanks< Back to Assignment Attempts: Average: 74 2. Taxes paid for a given income level Megan is getting ready to do her taxes. She is single and lives in Miami. Megan earned $110,000 in taxable income in 2015. She reviews the following table, which shows the IRS tax rates for a single taxpayer in 2015. On Annual Taxable Income... Up to $9,225 From $9,225 to $37,450 From $37,450 to $90,750 From $90,750 to $189,300 From $189,300 to $411,500 From $411,500 to $413,200 Over $413,200 The Tax Rate IS... (Percent) 10.0 15.0 25.0 28.0 33.0 35.0 39.6 MKT Based on the IRS table, Megan calculates that her marginal tax rate is 33% when her annual taxable income is $110,000. search From $37,450 to $90,750 From $90,750 to $189,300 From $189,300 to $411,500 From $411,500 to $413,200 Over $413,200 25.0 28.0 33.0 35.0 39.6 Based on the IRS table, Megan calculates that her marginal tax rate is 33% when her annual taxable income is $110,000 Megan calculates that she owes in income taxes for 2015 he taxes for 2015. Megan thencalculates that her a $18,481.25 le is based on the annual income level and the amount of taxes she owes for 2015.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture