Taxable Income

Gross Income $ 14,500

Total Deductions $ 2,500
Total Exemptions $ 1,800
Taxable Income $ 10,200
Tax $ 1,020
 For Practice

Gross Income $ 14,500

Total Deductions $ 2,500
Total Exemptions $ 1,800
Taxable Income
Tax
 Tax Bracket

Gross Income $ 135,000 Tax Rate of Taxable Amount

Total Deductions $ 12,000 10% of $10275
Total Exemptions $ 8,000 20% of $31500
22% of $47300
Taxable Income Bracket Tax Rate 24% of $25925
$0 to $10,275 10%
$10,275 to $41,775 12% Taxable Income
$41,775 to $89,075 22% Total Tax
$89,075 to $170,050 24%
$170,050 to $215,950 32%
$215,950 to $539,900 35%
$539,901 or more 37%
 For Practice

Tax Gross Income $ 135,000

$ 1,028 Total Deductions $ 12,000
$ 6,300 Total Exemptions $ 8,000
$ 10,406
$ 6,222 Taxable Income Bracket Tax Rate
$0 to $10,275 10%
$ 115,000 $10,275 to $41,775 12%
$ 23,956 $41,775 to $89,075 22%
$89,075 to $170,050 24%
$170,050 to $215,950 32%
$215,950 to $539,900 35%
$539,901 or more 37%
For Practice

Tax Rate of Taxable Amount Tax

10% of $10275 $ 1,028
20% of $31500 $ 6,300
22% of $47300 $ 10,406
24% of $25925 $ 6,222

Taxable Income $ 115,000

Total Tax $ 23,956
 Use of IF Function

Name Total Income Income Tax Individual Cumulative Tax

Smith $ 7,500 $0 $ -
Noah $ 13,000 $ 150 $ 360
Eva $ 21,000 $ 300 $ 860
Oliver $ 25,000 $ 210 $ 1,050
Jhon $ 38,000 $ 220 $ 1,340

Lower Limit Upper Limit Tax Rate Highest Tax Cumulative Tax
$ - $ 8,000 0% $ - $ -
$ 8,000 $ 15,000 3% $ 210 $ 210
$ 15,000 $ 22,000 5% $ 350 $ 560
$ 22,000 $ 29,000 7% $ 490 $ 840
$ 29,000 $ 36,000 9% $ 630 $ 1,120
$ 36,000 Above 11%
 For Practice

Name Total Income Income Tax

Smith $ 7,500
Noah $ 13,000
Eva $ 21,000
Oliver $ 25,000
Jhon $ 38,000

Lower Limit Upper Limit Tax Rate

$ - $ 8,000 0%
$ 8,000 $ 15,000 3%
$ 15,000 $ 22,000 5%
$ 22,000 $ 29,000 7%
$ 29,000 $ 36,000 9%
$ 36,000 Above 11%
actice

Individual Cumulative Tax

Highest Tax Cumulative Tax

 Use of VLOOKUP Function

Name Total Income Income Tax Individual Cumulative Tax

Smith $ 7,500 $ - $ -
Noah $ 13,000 $ 150 $ 360
Eva $ 21,000 $ 300 $ 860
Oliver $ 25,000 $ 210 $ 1,050
Jhon $ 38,000 $ 220 $ 1,340

Lower Limit Upper Limit Tax Rate Highest Tax Cumulative Tax
$ - $ 8,000 0% $ - $ -
$ 8,000 $ 15,000 3% $ 210 $ 210
$ 15,000 $ 22,000 5% $ 350 $ 560
$ 22,000 $ 29,000 7% $ 490 $ 840
$ 29,000 $ 36,000 9% $ 630 $ 1,120
$ 36,000 Above 11%
 For Practice

Name Total Income Income Tax

Smith $ 7,500
Noah $ 13,000
Eva $ 21,000
Oliver $ 25,000
Jhon $ 38,000

Lower Limit Upper Limit Tax Rate

$ - $ 8,000 0%
$ 8,000 $ 15,000 3%
$ 15,000 $ 22,000 5%
$ 22,000 $ 29,000 7%
$ 29,000 $ 36,000 9%
$ 36,000 Above 11%
actice

Individual Cumulative Tax

Highest Tax Cumulative Tax

 Taxable Income $ 10,200
Tax

Lower Limit Upper Limit Tax Rate

$ - $ 8,000 0%
$ 8,000 $ 15,000 3%
$ 15,000 $ 22,000 5%
$ 22,000 $ 29,000 7%
$ 29,000 $ 36,000 9%
$ 36,000 Above 11%