Aaron is a single taxpayer reporting 90000 of gross income., Ask an Expert

Accounting

Aaron is a single taxpayer reporting $90,000 of gross income. In addition, Aaron receives $5,000 of tax-exempt interest. The Stadard deduction is $5,450 and the personal exemption is $3,500.

Required: Compute the following:

a. Aaron's taxable income is:

b. Aaron's tax liability is:

C. Aaron's marginal tax rate is:

d. Aaron's average tax rate is:

e. Aaron's effective tax rate is:

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M970605

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