Question: I need a table like second picture because they asked total tax,after tax earing and averages tax rates P1-8 (book/static) Question Help Marginal tax rates

 I need a table like second picture because they asked totaltax,after tax earing and averages tax rates P1-8 (book/static) Question Help Marginal

I need a table like second picture because they asked total tax,after tax earing and averages tax rates

P1-8 (book/static) Question Help Marginal tax rates Partner A, a single taxpayer, is one of two partners in a small business. As such, she receives pass-through income that is taxed at her personal tax rates. After all adjustments and deductions have been made, including the 20% qualified business income deduction, she is preparing to calculate her taxes owed for the year. Using the tax rate schedule given here , perform the following: a. Find the marginal tax rate for the following levels of sole proprietorship earnings before taxes: $15,000; $60,000; $90,000; $150,000; $250,000; $450,000; and $1.0 million. b. Plot the marginal tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis). Explair the relationship between these variables. a. The marginal tax rate for earnings before taxes of $15,000 is 12 %. (Round to the nearest integer.) The total taxes due for earnings before taxes of $15,000 is $. (Round to the nearest dollar.) More Info Single Taxpayers-2018 Base tax + + + + of taxable income $0 to $9,525 2,525 to 38,700 3,700 to 82,500 2,500 to 157,500 1,500 to 200,000 1,000 to 500,000 00,000 $0 953 4,454 14,090 32,090 45,690 150,690 Tax calculation (Marginal rate x amount over base bracket) (10% x amount over $0) (12% X amount over 9,525) (22% x amount over 38,700) (24% x amount over 82,500) (32% x amount over 157,500) (35% X amount over 200,000) (37% x amount over 500,000) + + + + Print Done Enl 8:22 1

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!