Compute the tax owed by the following person. A single woman with a taxable income of ​$44,000

Question

Compute the tax owed by the following person.

A single woman with a taxable income of $44,000

 

The information that will be needed is Tax rate: 25%

Tax rate for the income of a single person: $35,351 to $85,650

Standard Deduction: $5950

Exemptions (per person): $3800

Answer 1

44,000 - 5,9590 - 3,800 = 34,250 taxable income

 

That tax rate is less the 25% because the 25% rate applies to a higher taxable income. But if you want to use 25% then the tax is 8,562.50