Using the Tax Tables

Presentation

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Mathematics

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12th Grade

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Practice Problem

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Medium

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CCSS

7.NS.A.3, 7.RP.A.3

Standards-aligned

Jessica Siano

Used 17+ times

FREE Resource

7 Slides • 5 Questions

Using the Tax Tables

Example From the Study Guide

Robin is single with dependents. She qualifies to file as head of household and has a taxable income of $68,335. Her total deductions were $13,450. If her employer withheld $7,395 in federal taxes, how much should she get refunded/owe in taxes?

FIRST - Find her total income

Robin earned $68,355 and had no other sources (no interest or anything else to add) so that is her total income

Second - Decided the Deduction

Her itemized deduction is $13,450. The standard Head of Household deduction is $18,000. ALWAYS CHOOSE THE BIGGER ONE.

Third - Subtract the deduction from the income. This is your taxable income, or adjusted gross income.

68335 - 18000 = 50335 taxable

Fourth - Find the correct line in the tax table

Her income was between 45,500 and 117,400 so use that line

Fifth (and final) - Plug the taxable income in to the correct line on the tax table to calculate tax

6227.50 + .25(50335 - 45500) = 7436.25

Multiple Choice

Robin's tax debt was $7436.25. Her employer withheld $7395. Did they withhold enough? Does she owe more or is she due a refund?

Refund

Owe

Fill in the Blanks

Type answer...

Fill in the Blanks

Type answer...

Multiple Choice

Parker is single with a taxable income (after deductions) of $94,326. If his employer withheld $21,870 in federal taxes, does he owe more or will he get a refund?

Owe

Refund

Fill in the Blanks

Type answer...

Using the Tax Tables

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