Business, 18.03.2021 01:30 911wgarcia

2013 Individual Tax Rates Single Individuals If Your Taxable Income Is You Pay This Amount on the Base of the Bracket Plus This Percentage on the Excess over the Base (Marginal Rate) Average Tax Rate at Top of Bracket Up to $8,925 $0 10.0% 10.0% $8,925 - $36,250 892.50 15.0 13.8 $36,250 - $87,850 4,991.25 25.0 20.4 $87,850 - $183,250 17,891.25 28.0 24.3 $183,250 - $398,350 44,603.25 33.0 29.0 $398,350 - $400,000 115,586.25 35.0 29.0 Over $400,000 116,163.75 39.6 39.6 Standard deduction for individual: $6,100 Married Couples Filing Joint Returns If Your Taxable Income Is You Pay This Amount on the Base of the Bracket Plus This Percentage on the Excess over the Base (Marginal Rate) Average Tax Rate at Top of Bracket Up to $17,850 $0 10.0% 10.0% $17,850 - $72,500 1,785.00 15.0 13.8 $72,500 - $146,400 9,982.50 25.0 19.4 $146,400 - $223,050 28,457.50 28.0 22.4 $223,050 - $398,350 49,919.50 33.0 27.1 $398,350 - $450,000 107,768.50 35.0 28.0 Over $450,000 125,846.00 39.6 39.6 Standard deduction for married couples filing jointly: $12,200 Quantitative Problem: Jenna is a single taxpayer with no dependents so she qualifies for one personal exemption. During 2013, she earned wages of $130,000. She doesn't itemize deductions, so she will take the standard deduction and her personal exemption to calculate 2013 taxable income. In addition, during the year she sold common stock that she had owned for five years for a net profit of $4,600. How much does Jenna owe to the IRS for taxes

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 08:40

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.

Answers: 1

Answer

Business, 22.06.2019 12:20

If jobs have been undercosted due to underallocation of manufacturing overhead, then cost of goods sold (cogs) is too low and which of the following corrections must be made? a. decrease cogs for double the amount of the underallocation b. increase cogs for double the amount of the underallocation c. decrease cogs for the amount of the underallocation d. increase cogs for the amount of the underallocation

Answers: 3

Answer

Business, 22.06.2019 13:40

The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east west sales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 ) the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss)

Answers: 1

Answer

Business, 22.06.2019 14:50

The following information is needed to reconcile the cash balance for gourmet catering services. * a deposit of $5,600 is in transit. * outstanding checks total $1,000. * the book balance is $6,400 at february 28, 2019. * the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent. * the bank balance at february 28, 2019 was $17,410. * a deposit of $400 was credited by the bank for $4,000. * a customer's check for $3,300 was returned for nonsufficient funds. * the bank service charge is $90. what was the adjusted book balance?

Answers: 1

Answer

You know the right answer?

2013 Individual Tax Rates Single Individuals If Your Taxable Income Is You Pay This Amount on the Ba...

Questions