Heather, a Single Taxpayer Who Files as a Head of Household

question 68

Essay

Heather, a single taxpayer who files as a head of household, earns $60,000 in taxable income and $5,000 in interest from an investment in city of Oxford Bonds. Using the U.S. tax rate schedule for year 2014, how much federal tax will she owe? What is her average tax rate? What is her effective tax rate? What is her current marginal tax rate? If Heather has an additional $20,000 of tax deductions, what is her marginal tax rate on these deductions? (Round the tax rates to 2 decimal places, e.g., .12345 as 12.35%)

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Definitions:

Metacognitive Strategy

Metacognitive Strategy involves the methods used to plan, monitor, and assess one’s own understanding and performance, such as planning how to approach a learning task and evaluating progress.

Advance Organizer

A pedagogical technique that involves presenting an overview or framework before learning to guide students' understanding.

Bloom's Taxonomy

A hierarchical classification of educational objectives and learning outcomes, ranging from simple knowledge to complex evaluation and creation skills.

Synthesize

Synthesize involves combining various elements or concepts into a coherent whole, especially in the context of creating a new understanding or interpretation from different sources of information.