Question

a. What are the tax liability, the marginal tax rate, and the average tax rate for...

a. What are the tax liability, the marginal tax rate, and the average tax rate for a married couple filing jointly with $68,900 taxable income?

b. What are the tax liability, the marginal tax rate, and the average tax rate for a single individual with $214,200 taxable income?

c. What are the tax liability, the marginal tax rate, and the average tax rate for a head of household with $463,300 taxable income?

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Answer #1

Tax Liability for the couples fillinf return jointly will be of $6383. The Average tax rate will be as 9.26% and the marginal tax rate will be 15%.

Tax Liability for the single individual having income of $214200 will be $51323 and the average rate is 23.96% and the marginal tax rate will be of 33%.

The tax Liability for head of house hold is calculated on the basis of 2 depenents therefore the tax $134506 and the average tax rate is 29.03% and marginal tax rate is 40%.

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