Tax Brackets Warmup

Tax Brackets Warmup

Assessment

Flashcard

Business

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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16 questions

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1.

FLASHCARD QUESTION

Front

What is the marginal tax rate for a single filer with a taxable income of $75,000 according to the provided tax brackets?

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Back

22%

2.

FLASHCARD QUESTION

Front

What is the maximum taxable income for married individuals filing jointly to remain in the 12% tax bracket?

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Back

$94,300

3.

FLASHCARD QUESTION

Front

If a married couple filing jointly earns $400,000, which tax bracket would they fall into?

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Back

32%.

4.

FLASHCARD QUESTION

Front

Assuming a single person and a married couple filing jointly both have a taxable income of $65,000, who would pay a higher income tax?

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Back

The single person

5.

FLASHCARD QUESTION

Front

Jody claims he will owe $24,000 in federal income taxes as a single filer with a $100,000 income. Is this statement likely to be correct?

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Back

No, because the tax rate for his income level is less than 24%

6.

FLASHCARD QUESTION

Front

For a head of household with a taxable income of $150,000, which tax bracket would they fall into? Options: 24%, 32%, 35%, 37%

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Back

32%

7.

FLASHCARD QUESTION

Front

What is the maximum taxable income for a single filer to remain in the 22% tax bracket?

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Back

$86,375

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