TEST BANK
McGraw-Hill's Essentials of Federal Taxation
M
2024 Edition 15th Edition
ED
C
O
N
N
O
IS
SE
U
R
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
Medconnoisseurlibraries.com
Student name:
1) The following are a series of tables that may be referred to in several questions throughout
your test. Please refer to these tables as needed or as directed.
2023 Tax Rate SchedulesIndividualsSchedule X-Single
M
If taxable income is But not The tax is:
over: over:
$ 0 $ 11,000 10% of taxable income
ED
$ 11,000 $ 44,725 $1,100 plus 12% of the excess
over $11,000
$ 44,725 $ 95,375 $5,147 plus 22% of the excess
over $44,725
$ 95,375 $ 182,100 $16,290 plus 24% of the excess
C
over $95,375
$ 182,100 $ 231,250 $37,104 plus 32% of the excess
O
over $182,100
$ 231,250 $ 578,125 $52,832 plus 35% of the excess
over $231,250
N
$ 578,125 — $174,238.25 plus 37% of the
excess over $578,125
N
Schedule Y-1-Married Filing Jointly or Qualifying Widow(er)
If taxable income is But not The tax is:
over: over:
O
$ 0 $ 22,000 10% of taxable income
$ 22,000 $ 89,450 $2,200 plus 12% of the excess
IS
over $22,000
$ 89,450 $ 190,750 $10,294 plus 22% of the excess
over $89,450
$ 190,750 $ 364,200 $32,580 plus 24% of the excess
SE
over $190,750
$ 364,200 $ 462,500 $74,208 plus 32% of the excess
over $364,200
$ 462,500 $ 693,750 $105,664 plus 35% of the excess
U
over $462,500
$ 693,750 — $186,601.50 plus 37% of the
excess over $693,750
R
Schedule Z-Head of Household
If taxable income is But not The tax is:
over: over:
Version 1 2
Downloaded by: destine465 | destine465@gmail.com
Page 1 of 708
Want to earn $1.236
Distribution of this document is illegal extra per year?
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
Medconnoisseurlibraries.com
$ 0 $ 15,700 10% of taxable income
M
ED
C
O
N
N
O
IS
SE
U
R
Version 1 3
Downloaded by: destine465 | destine465@gmail.com
Page 2 of 708
Want to earn $1.236
Distribution of this document is illegal extra per year?
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
Medconnoisseurlibraries.com
$ 15,700 $ 59,850 $1,570 plus 12% of the excess
over $15,700
$ 59,850 $ 95,350 $6,868 plus 22% of the excess
over $59,850
$ 95,350 $ 182,100 $14,678 plus 24% of the excess
over $95,350
M
$ 182,100 $ 231,250 $35,498 plus 32% of the excess
over $182,100
$ 231,250 $ 578,100 $51,226 plus 35% of the excess
ED
over $231,250
$ 578,100 — $172,623.50 plus 37% of the
excess over $578,100
Schedule Y-2-Married Filing Separately
If taxable income is But not The tax is:
C
over: over:
$ 0 $ 11,000 10% of taxable income
O
$ 11,000 $ 44,725 $1,100 plus 12% of the excess
over $11,000
$ 44,725 $ 95,375 $5,147 plus 22% of the excess
N
over $44,725
$ 95,375 $ 182,100 $16,290 plus 24% of the excess
N
over $95,375
$ 182,100 $ 231,250 $37,104 plus 32% of the excess
over $182,100
O
$ 231,250 $ 346,875 $52,832 plus 35% of the excess
over $231,250
$ 346,875 — $93,300.75 plus 37% of the
IS
excess over $346,875
SE
2) Taxes influence many types of business decisions but generally do not influence personal
U
decisions.
⊚ true
R
⊚ false
Version 1 4
Downloaded by: destine465 | destine465@gmail.com
Page 3 of 708
Want to earn $1.236
Distribution of this document is illegal extra per year?
