Question: OX... COMP ROUGH DR. Space in the Brain.. Molly earns a gross yearly salary of $109,807. She has no dependent children and made the following

OX... COMP ROUGH DR. Space in the Brain.. Molly
OX... COMP ROUGH DR. Space in the Brain.. Molly earns a gross yearly salary of $109,807. She has no dependent children and made the following tax deductible purchases: Charitable contributions: $8,039 Student loan interest: $1,341 When she files her taxes, what will her tax refund be? Round your answer to the nearest dollar. Use the following information: Standard deduction for single filers: $12400 Individual Taxpayers If Taxable Income Is Between: The Tax Due Is: 0 - $9,875 .10% of taxable income $9,876- $40,125 $987.50 + 12% of the amount over $9,875 $40,126 - $85,525 $4,617.50 + 22% of the amount over $40, 125 $85,526 - $163,300 $14,605.50 + 24% of the amount over $85,525 $163,301 - $207,350 $33,217.50 + 32% of the amount over $163,300 $207,351 - $518,400 $47,367.50 + 35% of the amount over $207,350 $518,400 $156,235 + 37% of the amount over $518,400 Biweekly allowance: $165.38 per person. 2020 Single Person Biweekly Withholding Table Taxable Wages Wages Withholding $0 - $238 $0.00 $238 - $428 $0.00 plus 10% of amount exceeding $238 $428 - $1,010 $19.00 plus 12% of amount exceeding $428 $1,010 - $1,883 $88.84 plus 22% of amount exceeding $1,010 $1,883 - $3,379 $280.90 plus 24% of amount exceeding $1,883 MacBook Pro

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 Accounting Questions!