Maureen Smith Is a Single Individual ? What Is Her Federal Tax Liability? ? A) $27,632
Question 98
Question 98
Multiple Choice
Maureen Smith is a single individual.She claims one exemption of $4,050 for herself and claims a standard deduction of $6,350.Her salary for the year was $146,350.Assume the following tax table is applicable. ? Single Individuals ? If Your Taxable Income Is Up to $9,325$9,325−$37,950$37,950−$91,900$91,900−$191,650$191,650−$416,700$416,700−$418,400 Over $418,400 You Pay This Amount on the Base of the Bracket $0.00932.505,226.2518,713.7546,643.75120,910.25121,505.25 Plus This Percentage on the Excess over the Base 10.0%15.025.028.033.035.039.6 Average Tax Rate at Top of Bracket 10.0%13.820.424.329.029.039.6 ? What is her federal tax liability? ?
A) $27,632.25 B) $23,907.75 C) $31,047.75 D) $25,770.75 E) $28,253.25
Correct Answer:
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