If Susie earns $750,000 in taxable income and files as head of household for year 2018,what is Susie's average tax rate (rounded)? (Use tax rate schedule)".
A)32.24%
B)33.85%
C)35.00%
D)37.00%
E)None of the choices are correct.

Question

Quizplus · Accepted Answer

To find Susie's average tax rate, we need to calculate her total tax liability and then divide it by her taxable income. Using the 2018 tax rate schedule for head of household, we calculate the tax for each bracket and sum them up. The average tax rate is the total tax divided by $750,000. The calculation results in an average tax rate of approximately 32.24%.

If Susie Earns $750,000 in Taxable Income and Files as Head