QuestionMay 24, 2025

taxpayer with a taxable income of 115,700 Calculate the tax using the computation worksheet for a head of household point 15,700.50 6,872.50 23,547 19,117

taxpayer with a taxable income of 115,700 Calculate the tax using the computation worksheet for a head of household point 15,700.50 6,872.50 23,547 19,117
taxpayer with a taxable income of 115,700 Calculate the tax using the computation worksheet for a head of household point 15,700.50 6,872.50 23,547 19,117

Solution
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Answer

\21,609 Explanation 1. Determine Tax Bracket For a head of household, taxable income of \115,700 falls into the bracket where income over \89,050 is taxed at 24%. 2. Calculate Base Tax Base tax for income up to \89,050 is \15,213. 3. Calculate Additional Tax Additional income over \89,050 is \115,700 - \89,050 = \26,650. Tax on this amount is \26,650 * 0.24 = \6,396. 4. Sum Total Tax Total tax is base tax + additional tax = \15,213 + \6,396 = \21,609.

Explanation

1. Determine Tax Bracket<br /> For a head of household, taxable income of \$115,700 falls into the bracket where income over \$89,050 is taxed at 24%.<br /><br />2. Calculate Base Tax<br /> Base tax for income up to \$89,050 is \$15,213.<br /><br />3. Calculate Additional Tax<br /> Additional income over \$89,050 is \$115,700 - \$89,050 = \$26,650. Tax on this amount is \$26,650 * 0.24 = \$6,396.<br /><br />4. Sum Total Tax<br /> Total tax is base tax + additional tax = \$15,213 + \$6,396 = \$21,609.
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