2007 Federal Income Tax Table
Single:
The tax is
Over But not over
$0 $7,825
$7,825 $31,850
$31,850 $77.100
$77,100 $160,850
$160,850 $349,700
$349,700 And Over
10% of the amount over $0
$788 + 15% of the amount over $7,825
$4,386 + 25% of the amount over $31,850
$15,699 + 28% of the amount over $77,100
$39,149 +33% of the amount over $160,850
$101,469 + 35% of the amount over $349,700
Tim Tradesman had a taxable income of $82,500. He figured his tax from the table above.
1. Find his earned income level.
2. Enter the base amount. - $
3. Find the amount over
4. Multiply line 3 by
5. Add Lines 2 and 4 - $
Need help ASAP