We appreciate your visit to Mallory s taxable income last year was tex tex 62 800 tex According to the tax table below how much tax does she have to. 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 :
To determine how much tax Mallory needs to pay based on her taxable income and the provided tax table, let's follow these steps:
1. Identify Mallory's Taxable Income:
Mallory's taxable income for the year is \[tex]$62,800.
2. Examine the Tax Table:
We're using a tax table where different income ranges have specified tax amounts. Our goal is to find the income range that includes \$[/tex]62,800 for someone filing with the "Single" status.
3. Locating the Correct Tax Bracket:
By checking the tax table, we find the row that covers the income bracket from \[tex]$62,750 to \$[/tex]62,800. This bracket specifically lists a tax amount for someone with a taxable income that tops at \[tex]$62,800.
4. Determine the Tax Amount:
According to the tax table, if Mallory's taxable income is exactly \$[/tex]62,800 and she files as "Single," the tax she has to pay is \[tex]$11,881.
5. Conclusion:
Thus, based on the table, Mallory should pay \$[/tex]11,881 in taxes for her taxable income of \$62,800.
This is a step-by-step guide to understanding how Mallory's tax was determined based on the given information.
1. Identify Mallory's Taxable Income:
Mallory's taxable income for the year is \[tex]$62,800.
2. Examine the Tax Table:
We're using a tax table where different income ranges have specified tax amounts. Our goal is to find the income range that includes \$[/tex]62,800 for someone filing with the "Single" status.
3. Locating the Correct Tax Bracket:
By checking the tax table, we find the row that covers the income bracket from \[tex]$62,750 to \$[/tex]62,800. This bracket specifically lists a tax amount for someone with a taxable income that tops at \[tex]$62,800.
4. Determine the Tax Amount:
According to the tax table, if Mallory's taxable income is exactly \$[/tex]62,800 and she files as "Single," the tax she has to pay is \[tex]$11,881.
5. Conclusion:
Thus, based on the table, Mallory should pay \$[/tex]11,881 in taxes for her taxable income of \$62,800.
This is a step-by-step guide to understanding how Mallory's tax was determined based on the given information.
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