If Susie earns $750,000 in taxable income,how much tax will she pay as a single taxpayer for year 2018? (Use tax rate schedule)

Question

Quizplus · Accepted Answer

According to the tax rate schedule for 2018, the tax on $750,000 of taxable income for a single taxpayer is calculated as follows:

$82,500 + ($525,000 x 0.24) + (($750,000 - $500,000) x 0.35) = $243,189.50

Therefore, Susie will pay $243,189.50 in taxes as a single taxpayer for the year 2018.

If Susie Earns $750,000 in Taxable Income,how Much Tax Will