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Tax Rates. Latesha, a single taxpayer, had the following income and
deductions for the tax year 2015:
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Compute Latesha’s taxable income and federal tax liability for
2015 (round to dollars).
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b.Compute Latesha’s marginal, average, and effective tax
rates.
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c.For tax planning purposes, which of the three rates in Part b
is the most important?
Tax Rates. Based on the amounts of taxable income below, compute
the federal income tax payable in 2015 on each amount assuming the
taxpayers are married filing a joint return. Also, for each amount of
taxable income, compute the average tax rate and the marginal tax
rate.
•
a.Taxable income of $30,000.