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Tina, a single woman, earned wages of $70549, received $1287 in interest from a savings account, and contributed $2753 to a tax-deferred saving plan. She contributed $1505 to charity. Find Tina's federal tax. (More info in the attachment)

Tina a single woman earned wages of 70549 received 1287 in interest from a savings account and contributed 2753 to a taxdeferred saving plan She contributed 150 class=

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Answer:

[tex]\$14,733.25[/tex]

Step-by-step explanation:

Taxable income refers to the income subject to taxes from government, including but not limited to federal tax.

Since taxable income is equal to $58,933, tax will be based off of this value. Because Tina is single and her income falls within the 25% range, her federal tax is equal to:

[tex]\$58,933\cdot 0.25=\boxed{\$14,733.25}[/tex]

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