We appreciate your visit to A taxpayer filing as head of household with a taxable income of tex 57 620 tex would pay tex square tex This is tex square. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Certainly! Let's solve the problem about taxes for someone filing as head of household with a taxable income of [tex]$57,620.
1. Identify the Income Bracket for Head of Household:
- Based on the table provided, the income bracket for someone filing as head of household with a taxable income of $[/tex]57,620 falls between [tex]$57,600 and $[/tex]58,000.
2. Determine the Tax Amount for Head of Household:
- For the income bracket [tex]$57,600 to $[/tex]58,000, the tax amount according to the table is [tex]$7,689.
3. Identify the Income Bracket for Single Filer:
- Similarly, for someone filing as single, the taxable income of $[/tex]57,620 also falls within the [tex]$57,600 to $[/tex]58,000 bracket.
4. Determine the Tax Amount for Single Filer:
- Within this income bracket for a single filer, the tax amount is [tex]$8,916.
5. Calculate the Difference in Tax Paid:
- To find out how much less a head of household would pay compared to a single filer, subtract the tax for the head of household from the tax for the single filer:
\[
8,916 - 7,689 = 1,227
\]
6. Conclusion:
- A taxpayer filing as head of household with a taxable income of $[/tex]57,620 would pay [tex]$7,689. This amount is $[/tex]1,227 less than what they would pay if they were filing as a single taxpayer.
I hope this explanation makes the tax comparison clear!
1. Identify the Income Bracket for Head of Household:
- Based on the table provided, the income bracket for someone filing as head of household with a taxable income of $[/tex]57,620 falls between [tex]$57,600 and $[/tex]58,000.
2. Determine the Tax Amount for Head of Household:
- For the income bracket [tex]$57,600 to $[/tex]58,000, the tax amount according to the table is [tex]$7,689.
3. Identify the Income Bracket for Single Filer:
- Similarly, for someone filing as single, the taxable income of $[/tex]57,620 also falls within the [tex]$57,600 to $[/tex]58,000 bracket.
4. Determine the Tax Amount for Single Filer:
- Within this income bracket for a single filer, the tax amount is [tex]$8,916.
5. Calculate the Difference in Tax Paid:
- To find out how much less a head of household would pay compared to a single filer, subtract the tax for the head of household from the tax for the single filer:
\[
8,916 - 7,689 = 1,227
\]
6. Conclusion:
- A taxpayer filing as head of household with a taxable income of $[/tex]57,620 would pay [tex]$7,689. This amount is $[/tex]1,227 less than what they would pay if they were filing as a single taxpayer.
I hope this explanation makes the tax comparison clear!
Thanks for taking the time to read A taxpayer filing as head of household with a taxable income of tex 57 620 tex would pay tex square tex This is tex square. We hope the insights shared have been valuable and enhanced your understanding of the topic. Don�t hesitate to browse our website for more informative and engaging content!
- Why do Businesses Exist Why does Starbucks Exist What Service does Starbucks Provide Really what is their product.
- The pattern of numbers below is an arithmetic sequence tex 14 24 34 44 54 ldots tex Which statement describes the recursive function used to..
- Morgan felt the need to streamline Edison Electric What changes did Morgan make.
Rewritten by : Barada
