Mike is filing as the head of a household. Her taxable income is $61,014. Use the Tax Table, Exhibit 18-3 from your text to find the tax liability. A. $6,940.68B. $7,321.68 C. $7,971.08 Filing status: SingleTaxable incomeAt least $0 but not over $9,525Over $9,525 but not over $38,700Over $38,700 but not over $82,500Over $82,500 but not over $157,500Over $157,500 but not over $200,000Over $200,000 but not over $500,000Over $500,000Filing status: Married filing jointly or Qualifying widow(er)Taxable incomeAt least $0 but not over $19,050Over $19,050 but not over $77,400Over $77,400 but not over $165,000Over $165,000 but not over $315,000Over $315,000 but not over $400,00Over $400,00 but not over $600,000Over $600,000Filing status: Married filing separatelyTaxable incomeAt least $0 but not over $9,525Over $9,525 but not over $38,700Over $38,700 but not over $82,500Over $82,500 but not over $157,500Over $157,500 but not over $200,000Over $200,000 but not over $300,000Over $300,000Tax10% of the amount over $0$952.50 +12% of the amount over $9,525$4,453.50 + 22% of the amount over $38,700$14,089.50 +24% of the amount over $82,500$32,089.50+ 32% of the amount over $157,500$45,689.50 + 35% of the amount over $200,000$150,689.50 +37% of the amount over $500,000Filing status: Head of householdTaxable incomeAt least $0 but not over $13,600Over $13,600 but not over $51,800Over $51,800 but not over $82,500Over $82,500 but not over $157,500Over $157,500 but not over $200,000Over $200,000 but not over $500,000Over $500,000Tax10% of the amount over $0$1,905 + 12% of the amount over $19,050$8,907 + 22% of the amount over $77,400$28,179 + 24% of the amount over $165,000$64,179 + 32% of the amount over $315,000$91,379 +35% of the amount over $400,000$161,379 +37% of the amount over $600,000Tax10% of the amount over $0$952.50 +12% of the amount over $9,525$4,453.50 +22% of the amount over $38,700$14,089.50 +24% of the amount over $82,500$32,089.50 + 32% of the amount over $157,500$45,689.50 + 35% of the amount over $200,000$80,689.50 +37% of the amount over $300,000Tax10% of the amount over $0$1,360 + 12% of the amount over $13,600$5,944 + 22% of the amount over $51,800$12,698 +24% of the amount over $82,500$30,698 + 32% of the amount over $157,500$44,298 + 35% of the amount over $200,000$149,298 + 37% of the amount over $500,000

Question

Mike is filing as the head of a household. Her taxable income is $61,014. Use the Tax Table, Exhibit 18-3 from your text to find the tax liability. A. $6,940.68B. $7,321.68    C. $7,971.08 Filing status: SingleTaxable incomeAt least $0 but not over $9,525Over $9,525 but not over $38,700Over $38,700 but not over $82,500Over $82,500 but not over $157,500Over $157,500 but not over $200,000Over $200,000 but not over $500,000Over $500,000Filing status: Married filing jointly or Qualifying widow(er)Taxable incomeAt least $0 but not over $19,050Over $19,050 but not over $77,400Over $77,400 but not over $165,000Over $165,000 but not over $315,000Over $315,000 but not over $400,00Over $400,00 but not over $600,000Over $600,000Filing status: Married filing separatelyTaxable incomeAt least $0 but not over $9,525Over $9,525 but not over $38,700Over $38,700 but not over $82,500Over $82,500 but not over $157,500Over $157,500 but not over $200,000Over $200,000 but not over $300,000Over $300,000Tax10% of the amount over $0$952.50 +12% of the amount over $9,525$4,453.50 + 22% of the amount over $38,700$14,089.50 +24% of the amount over $82,500$32,089.50+ 32% of the amount over $157,500$45,689.50 + 35% of the amount over $200,000$150,689.50 +37% of the amount over $500,000Filing status: Head of householdTaxable incomeAt least $0 but not over $13,600Over $13,600 but not over $51,800Over $51,800 but not over $82,500Over $82,500 but not over $157,500Over $157,500 but not over $200,000Over $200,000 but not over $500,000Over $500,000Tax10% of the amount over $0$1,905 + 12% of the amount over $19,050$8,907 + 22% of the amount over $77,400$28,179 + 24% of the amount over $165,000$64,179 + 32% of the amount over $315,000$91,379 +35% of the amount over $400,000$161,379 +37% of the amount over $600,000Tax10% of the amount over $0$952.50 +12% of the amount over $9,525$4,453.50 +22% of the amount over $38,700$14,089.50 +24% of the amount over $82,500$32,089.50 + 32% of the amount over $157,500$45,689.50 + 35% of the amount over $200,000$80,689.50 +37% of the amount over $300,000Tax10% of the amount over $0$1,360 + 12% of the amount over $13,600$5,944 + 22% of the amount over $51,800$12,698 +24% of the amount over $82,500$30,698 + 32% of the amount over $157,500$44,298 + 35% of the amount over $200,000$149,298 + 37% of the amount over $500,000

Accepted Answer

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Mike is filing as the head of a household. Her taxable income is $61,014. Use the Tax Table, Exhibit 18-3 from your text to find the tax liability. A. $6,940.68 B. $7,321.68 C. $7,971.08