Kara has a taxable income of $14,143. If she is the "Head of a household" how much income tax should she pay?
To calculate the income tax for Kara, we need to consider the tax brackets and rates for the "Head of Household" filing status.
Step 1: Determine Kara's taxable income.
Kara's taxable income is given as $14,143.
Step 2: Identify the tax bracket that Kara falls into.
For the tax year 2021, the tax brackets for the "Head of Household" filing status are as follows:
- 10% on income up to $14,200
- 12% on income over $14,200 and up to $54,200
- 22% on income over $54,200 and up to $86,350
- 24% on income over $86,350 and up to $164,900
- 32% on income over $164,900 and up to $209,400
- 35% on income over $209,400 and up to $523,600
- 37% on income over $523,600
Kara's taxable income falls within the 10% tax bracket.
Step 3: Calculate the tax amount.
To calculate the income tax, we need to multiply the taxable income by the respective tax rate. Since Kara falls into the 10% tax bracket, the tax rate is 10%.
Tax Amount = Taxable Income * Tax Rate
Tax Amount = $14,143 * 10%
Tax Amount = $1414.3
Therefore, Kara should pay an income tax amount of $1414.3.
answers are
A.1,413
B. 1,589
C.1,596
D.1,696
Kara has a taxable income of $14,143. If she is the "Head of a household" how much income tax should she pay?
A) $1,413
B) $1,589
C) $1,596
D) $1,696