Question: Use the tax brackets here to answer the question: Tax Brackets for Single Filers Tax Table Tax Rate Taxable Income 10% Up to $10,275
Use the tax brackets here to answer the question: Tax Brackets for Single Filers Tax Table Tax Rate Taxable Income 10% Up to $10,275 12% $10,276 $41,775 22% $41,776 $89,075 24% $89,076 $170,050 32% $170,051 $215,950 35% $215,951 $539,900 37% $539,901 or more Alexa is a single filer and has $47,000 per year in taxable income. This year her federal tax is $7,400. In the space below answer these two questions. Show your work for the second one. (5 pt each) 1. What is Alexa's marginal tax rate? 2. What is her average tax rate? (show your work)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
