Posted by **austin** on Friday, October 1, 2010 at 1:56pm.

Tax Rates, latesha, a single taxpayer, had the following income and deductions for the year 2009.

INCOME

Salary $60,000

Business Income $25,000

Intrest income(bonds)$10,000

Tax-exempt bond interes $ 5,000

________

TOTAL INCOME $100,000

DEDUCTIONS:

Business Expenses $ 9,500

Itemized deductions $20,000

Personal exemption $ 3,650

----------

TOTAL DEDUCTIONS $33,150

1. Compute Latesha's taxable income and federal tax liability for 2009.

2. Compute Latesha's marginal, average, and effective tax rate.

3. for tax planning purpose which of the three rates in part 2 is the most important?

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