The writer is very fast, professional and responded to the review request fast also. Thank you.
Ms. Busch has gathered these data about her finances:
Salary 140,000
Taxable interest received 2,500
Municipal bond interest received 15,000
Total itemized deductions 8,000
The personal exemption is $3,700. The standard deduction for a single filer is $5,800. Use the rate schedule in Figure 9—2 to compute the following:
a. Her tax
b. Her average effective tax rate
c. Her average tax rate
d. Her marginal tax rate
e. Her accountant discovers a previously omitted personal deduction of $800. By how much does her federal tax liability fall with that addition?
f. Amazingly enough, the accountant now discovers a $250 credit omitted from previous calculations (but after discovering the $800 in part e). By how much does her federal tax liability fall because of this credit?
Figure 9—2 Federal Rate Schedule for 2011
Single Filers
If Taxable Income Is: Then Tax Is:
$0 – 8,500 10% of the amount over $0
8,500 – 34,500 $850 + 15% of the amount over $8,500
34,500 – 83,600 4,750 + 25% of the amount over $34,500
83,600 – 174,400 17,025 + 28% of the amount over $83,600
174,400 – 379,150 42,449 + 33% of the amount over $174,400
379,150 and over 110,016.50 + 35% of the amount over $379,150
**PLEASE SHOW THE WORK/EXCEL FORMULAS ON HOW YOU GET YOUR ANSWERS**
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more