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Seronimo files his tax return as a head of household for year 2022. If his taxable income is $74,200, what is his a ote: Round your final answer to two decimal places.

Seronimo files his tax return as a head of household for year 2022. If his taxable income is $74,200, what is his a ote: Round your final answer to two decimal places.

Income Tax Fundamentals 2020
Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter12: Tax Administration And Tax Planning
Section: Chapter Questions
Problem 22MCQ: Melodie's taxable income is $39,000 and she pays income tax of $4,489. If Melodie's taxable income...
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Geronimo files his tax return as a head of household for year 2022. If his taxable income is $74,200, what is his average tax rate? (Use tax rate schedu Note: Round your final answer to two decimal places. Multiple Choice O O O O PUUSEEN BOGADO 14.07 percent 16.33 percent 11.69 percent 22.00 percent Saved None of the choices are correct. Help S
Transcribed Image Text:Geronimo files his tax return as a head of household for year 2022. If his taxable income is $74,200, what is his average tax rate? (Use tax rate schedu Note: Round your final answer to two decimal places. Multiple Choice O O O O PUUSEEN BOGADO 14.07 percent 16.33 percent 11.69 percent 22.00 percent Saved None of the choices are correct. Help S
2022 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over:But not over: $ 0 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 215,950 $ 539,900 $ 0 $ 20,550 $ 83,550 $ 178,150 $ 340,100 $ 431,900 $ 647,850 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: S 0 $ 14,650 $ 55,900 $ 89,050 $ 170,050 $ 215,950 $ 539,900 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 215,950 $ 539,900 Schedule Z-Head of Household If taxable income is over:But not over: $ 0 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 20,550 $ 83,550 $ 178,150 $ 340,100 $ 431,900 $ 647,850 35°F Cloudy Schedule Y-2-Married Filing Separately If taxable income is over:But not over: $ 14,650 $ 55,900 $ 89,050 $ 170,050 $215,950 $ 539,900 The tax is: 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647.50 plus 32% of the excess over $170,050 $49,335.50 plus 35% of the excess over $215,950 $162,718 plus 37% of the excess over $539,900 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $215,950 The tax is: 10% of taxable income, HS $2,055 plus 12% of the excess over $20,550 $9,615 plus 22% of the excess over $83,550 $30,427 plus 24% of the excess over $178,150 $69,295 plus 32% of the excess over $340,100 $98,671 plus 35% of the excess over $431,900 $174,253.50 plus 37% of the excess over $647,850 The tax is: 10% of taxable income $1,465 plus 12% of the excess over $14,650 $6,415 plus 22% of the excess over $55,900 $13,708 plus 24% of the excess over $89,050 $33,148 plus 32% of the excess over $170,050 $47,836 plus 35% of the excess over $215,950 $161,218.50 plus 37% of the excess over $539.900 The tax is: 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647.50 plus 32% of the excess over $170,050
Transcribed Image Text:2022 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over:But not over: $ 0 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 215,950 $ 539,900 $ 0 $ 20,550 $ 83,550 $ 178,150 $ 340,100 $ 431,900 $ 647,850 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: S 0 $ 14,650 $ 55,900 $ 89,050 $ 170,050 $ 215,950 $ 539,900 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 215,950 $ 539,900 Schedule Z-Head of Household If taxable income is over:But not over: $ 0 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 20,550 $ 83,550 $ 178,150 $ 340,100 $ 431,900 $ 647,850 35°F Cloudy Schedule Y-2-Married Filing Separately If taxable income is over:But not over: $ 14,650 $ 55,900 $ 89,050 $ 170,050 $215,950 $ 539,900 The tax is: 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647.50 plus 32% of the excess over $170,050 $49,335.50 plus 35% of the excess over $215,950 $162,718 plus 37% of the excess over $539,900 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $215,950 The tax is: 10% of taxable income, HS $2,055 plus 12% of the excess over $20,550 $9,615 plus 22% of the excess over $83,550 $30,427 plus 24% of the excess over $178,150 $69,295 plus 32% of the excess over $340,100 $98,671 plus 35% of the excess over $431,900 $174,253.50 plus 37% of the excess over $647,850 The tax is: 10% of taxable income $1,465 plus 12% of the excess over $14,650 $6,415 plus 22% of the excess over $55,900 $13,708 plus 24% of the excess over $89,050 $33,148 plus 32% of the excess over $170,050 $47,836 plus 35% of the excess over $215,950 $161,218.50 plus 37% of the excess over $539.900 The tax is: 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647.50 plus 32% of the excess over $170,050
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