Question: 26. PLEASE SHOW EXCEL SPREADSHEET WORK. THANKS! Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations.
26. PLEASE SHOW EXCEL SPREADSHEET WORK. THANKS!
| Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) |
| a. | A head of household with taxable income of $55,000. |
| Tax amount | $ |
| b. | A single person with taxable income of $35,000. |
| Tax amount | $ |
| c. | Married taxpayers filing jointly with taxable income of $72,000. |
| Tax amount | $ |

Married Taxpayers Rate on Filing Jointly Taxable Income Single Taxpayers Head of Households Up to $9,075 Up to $18,150 Up to $12,950 10% $18,151-$73,800 $9,076-$36,900 $12,951-$49,400 15 $73,801-$148,850 $49,401-$127,550 $36,901-$89,350 25 $89,351-$186,350 $148,851-$226,850 $127,551-$206,600 28 $186,351-$405,100 $226,851-$405,100 $206,601-$405,100 33 $405,101-$406,750 $405,101-$457,600 $405,101-$432,200 35 Over $406,751 Over $457,601 Over $432,201 39.6
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
