Tax Tables

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

Robin's tax debt was $7436.25. Her employer withheld $7395. How much does she owe?

Fill in the Blanks

Parker is single with a taxable income (after deductions) of $94,326. What is his tax debt?

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

Parker is single with a taxable income (after deductions) of $94,326. If his employer withheld $21,870 in federal taxes, what will his refund be?