Find the Tax in the Following Application Problems

question 8

Multiple Choice

Find the tax in the following application problems. Use $4050 for each personal deduction, a standard deduction of $6300 for single taxpayers, $12,600 for married taxpayers filing jointly, $6300 for married taxpayers filing separately, and $9300 for head of household and the tax rate schedule.
-Megan Cortez had an adjusted gross income of $55,704 last year. She had deductions of $939 for state income tax, $764 for property tax, $3,890 in mortgage interest, and $1,294 in contributions. Cortez claims one exemption and files as a single person.

• A)$8,329.25
• B)$7,676.00
• C)$6,963.00
• D)$10,051.00

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Definitions:

Productive

The state of achieving significant results, output, or progress, especially in terms of work or activities.

Impression Management

The practice of consciously making behavioral adjustments to project a desired image to others.

Inconsistent

Behavior or responses that show a lack of steadiness or uniformity, often leading to unpredictability.

Self-Promotion

The action of promoting oneself, one's abilities, or achievements, often to advance one's career or reputation.