Question

Kana is a single wage earner with no dependents and taxable income of $205,000 in 2018. Her 2017 taxable income was $155,000 and tax liability was $36,382. Kana's 2018 income tax liability: $ Kana's minimum required 2018 annual payment necessary to avoid any penalty: $

Answer 1

Answer:

$48,118.13

Explanation:

To find Kana's tax rate:

$taxrate = \frac{36382}{155000}\\taxrate = 0.2347226$

(0.2347 would mean 23.47226%)

To find what she'll owe this year:

$owes=205000*0.2347226\\owes=48118.13$