ACCT M50 PRINCIPLES OF INCOME TAXATION PRACTICE EXAM | FREE SOLVED ANSWERS
What is the amount of the tax liability for a head of household person having taxable income of $87,573? Use the appropriate Tax Tables and Tax Rate Schedules.
What is the amount of the tax liability for a head of household person having taxable income of $87,573? Use the appropriate Tax Tables and Tax Rate Schedules.
Note: All answers should be rounded to the nearest dollar.
Multiple Choice
- a. $13.587
- b. $12,626
- c. $14,884
- d. $10,509
Correct Answer: B. $12,626