Lucia is a young professional with taxable income of $182,500 as an advertising account executive. What is Lucia’s total tax liability? 

To calculate Lucia's total tax liability, we need to know the income tax brackets for her country or region. Since the problem does not specify this, I will assume it's based on the **2023 U.S. federal income tax brackets** for a single filer. Here’s a breakdown of the U.S. federal income tax brackets for 2023:

1. **10%** on income up to $11,000
2. **12%** on income from $11,001 to $44,725
3. **22%** on income from $44,726 to $95,375
4. **24%** on income from $95,376 to $182,100
5. **32%** on income from $182,101 to $231,250
6. **35%** on income from $231,251 to $578,125
7. **37%** on income over $578,126

Since Lucia’s taxable income is $182,500, she falls into the **32%** tax bracket for the portion above $182,100. Let's calculate her tax:

### Step-by-step calculation:
1. **10%** of income up to $11,000:  
   \[
   11,000 \times 0.10 = 1,100
   \]
2. **12%** on the income between $11,001 and $44,725:  
   \[
   (44,725 - 11,000) \times 0.12 = 33,725 \times 0.12 = 4,047
   \]
3. **22%** on the income between $44,726 and $95,375:  
   \[
   (95,375 - 44,725) \times 0.22 = 50,650 \times 0.22 = 11,143
   \]
4. **24%** on the income between $95,376 and $182,100:  
   \[
   (182,100 - 95,375) \times 0.24 = 86,725 \times 0.24 = 20,814
   \]
5. **32%** on the income between $182,101 and $182,500:  
   \[
   (182,500 - 182,100) \times 0.32 = 400 \times 0.32 = 128
   \]

### Total Tax Liability:
\[
1,100 + 4,047 + 11,143 + 20,814 + 128 = 37,232
\]

Lucia's total tax liability is **$37,232**.

Would you like further clarification or details on the calculation?

Here are some additional related questions:
1. How does Lucia's tax liability change if she were married filing jointly?
2. What impact do deductions or credits have on her tax liability?
3. How would Lucia's tax liability be affected by changes in the tax brackets?
4. What if Lucia had a capital gains income in addition to her regular taxable income?
5. How does state income tax affect her total tax liability?

**Tip:** Always check if you qualify for tax deductions or credits, as they can significantly reduce your tax liability.

Lucia is a young professional with taxable income of $182,500 as an advertising account executive. What is Lucia’s total tax liability?

Learn how to calculate the total tax liability for Lucia, a professional with a taxable income of $182,500. This solution uses the 2023 U.S. federal income tax brackets and demonstrates step-by-step percentage calculations across different income levels. Suitable for high school students and adults interested in personal finance.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation