Use the 2012 marginal tax rates to compute the tax owed by the following person. Round...

 

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Use the 2012 marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar as needed A single man with a taxable income of $69,000 2012 Marginal Tax Rates Click the icon to view the 2012 marginal tax rates. The tax owed is $ 2012 Marginal Tax Rates, Standard Deductions, and Exemptions Married and each partner files a separate tax return Unmarried, divorced, or legally separated Tax Rate 10% 15% 25% 28% 33% 35% Single up to $8700 $8701 to $35,350 $35,351 to $85,650 $85,651 to $178,650 $178,651 to $388,350 more than $388,350 Married Filing Separately up to $8700 $8701 to $35,350 $35,351 to $71,350 $71,351 to $108,725 $108,726 to $194,175 more than $194,175 $5950 Standard $5950 Deduction Exemptions $3800 $3800 (per person) Print Done Married and both partners file a single tax return Married Filing Jointly up to $17,400 $17,401 to $70,700 $70,701 to $142,700 $142,701 to $217,450 $217,451 to $388,350 more than $388,350 $11.900 $3800 Unmarried and paying more than half the cost of supporting a child or parent Head of Household up to $12,400 $12,401 to $47,350 $47,351 to $122,300 $122,301 to $198,050 $198,051 to $388,350 more than $388,350 $8700 $3800 X Use the 2012 marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar as needed A single man with a taxable income of $69,000 2012 Marginal Tax Rates Click the icon to view the 2012 marginal tax rates. The tax owed is $ 2012 Marginal Tax Rates, Standard Deductions, and Exemptions Married and each partner files a separate tax return Unmarried, divorced, or legally separated Tax Rate 10% 15% 25% 28% 33% 35% Single up to $8700 $8701 to $35,350 $35,351 to $85,650 $85,651 to $178,650 $178,651 to $388,350 more than $388,350 Married Filing Separately up to $8700 $8701 to $35,350 $35,351 to $71,350 $71,351 to $108,725 $108,726 to $194,175 more than $194,175 $5950 Standard $5950 Deduction Exemptions $3800 $3800 (per person) Print Done Married and both partners file a single tax return Married Filing Jointly up to $17,400 $17,401 to $70,700 $70,701 to $142,700 $142,701 to $217,450 $217,451 to $388,350 more than $388,350 $11.900 $3800 Unmarried and paying more than half the cost of supporting a child or parent Head of Household up to $12,400 $12,401 to $47,350 $47,351 to $122,300 $122,301 to $198,050 $198,051 to $388,350 more than $388,350 $8700 $3800 X

Answer rating: 100% (QA)

Step 1 Tax owed is the amount that the party is liable ... View the full answer