1. Tax Schedule Taxable Income Marginal Tax Rate
first $25,000 10%
from $25,000 to $75,000 15%
from $75,000 - $125,000 20%
from $125,000 - $175,000 25%
over $175,000 30%
Jim Schmeckems, a single head of household, had an annual income of $200,000. There were no exclusions or adjustments for tax purposes. The exemptions for Jim and his dependents total $10,000. His total itemized deductions amount to $26,000. The total standard deduction for his household is $12,500. Use the tax tables above to compute Jim's tax liability.

2. Refer to the previous question. What if Jim had received a $15,000 commission check at the end of the year. How much in additional taxes would he owe?

3. Suppose the AMT were calculated in the following (oversimplified) way: 14.8% of AGI. What would Jim's tax liability be in this case as described in question 20

Joshua is a millionaire, and he manages several successful companies. he usually interacts with people of similar status. given this information, joshua and the people he interacts with are part of a

One investigating company tracked all credit card purchase during 2012 and measured two variables: (1) the type of credit card used (visa, mastercard, american express, or discover), and (2) the amount (in dollars) of each purchase. identify the level of each variable measured.

Which of the following is likely not a benefit of requiring a grand jury to listen to and examine all of the evidence against a person suspected of committing a serious crime and then independently deciding whether or not to hand down an indictment? 1.the grand jury system provides the accused another safeguard against being sent to trial and facing conviction based on flawed evidence. 2.the members of the grand jury are drawn from the community and are empowered to render independent decisions about whether or not the government has collected enough evidence to bring an individual to trial. 3.the grand jury’s decision can provide prosecutors insight into what is necessary to build a sufficient case if a similar crime is presented later. 4.the grand jury is impaneled to rubber-stamp prosecutors’ cases, which makes it possible for more cases to reach trial.