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PAYROLL ACCT.,2019 ED.(LL)-TEXT

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter4: Income Tax Withholding

Section: Chapter Questions

Problem 3SSQ

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Question

Use the table below to calculate the tax owed. Round to the nearest cent.
single man with a taxable income of $32,000 and a $1,000 tax credit.
Single
Tax Rate
10%
15%
25%
28%
up to $9275
$9276 to
$37,650
$37,651 to
$91,150
A. $4,650.00
OB. $3,336.25
OC. $4,336.25
D. $2,247.50
$91,151 to
+1nn 1CA
Married Filing
Separately
up to $9275
$9276 to
$37,650
$37,651 to
$75.,950
$76,951 to
(11C 75C
Married Filing
Jointly
up to $13,550
$18,551 to
$75,300
$75,301 to
$151,900
$151,901 to
0001 CA
Head of
Household
up to $13,250
$13,251 to
$50,400
$50,401 to
$130,150
$130,151 to
10 onn
Calculate the tax owed by a single man with a taxable income of $32,000 and a $1,000 tax credit.

33%
35%
39.6%
Standard
Deduction
$190,151 to
$413,350
$413,351 to
$415,050
more than
$415,050
$6300
Exemptions $4050
(per person)
$115,726 to
$206,675
$206,676to
$233,475
more than
$233,475
$6300
$4050
$231,451 to
$413,350
$413,351 to
$466,950
more than
$466,950
$12,600
$4050
$210,801 to
$413,350
$413,351 to
$441,000
more than
$441,000
$9300
$4050

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