Suppose you made $59,065 of income from wages and $639 of taxable interest. You also made contributions of $2700 to a tax deferred retirement account. You have 1 dependents and file as single. The standard deduction 12800 and the exemption amount is 4400 per exemption. What is your Gross Income? Answer to the nearest dollar.
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- Melodie's taxable income is $39,000 and she pays income tax of $4,489. If Melodie's taxable income increases to $41,000, she would pay income taxes of $4,884. What is Melodie's marginal tax rate? 19.75 22.00 18.50 12.00 Some other amountSuppose you made $92,747 of income from wages and $386 of taxable interest. You also made contributions of $6000 to a tax deferred retirement account. You have 1 dependents and file as single. The standard deduction is 11400 and the exemption is 3000 per exemption. What is your Adjusted Gross Income? Answer to the nearest dollar.Suppose you made $98,296 of income from wages and $567 of taxable interest. You also made contributions of $4200 to a tax deferred retirement account. You have 2 dependents and file as single. The standard deduction is 12900 and the exemption is 3400 per exemption. What is your Gross Income? Answer to the nearest dollar.
- Suppose you made $70,390 of income from wages and $178 of taxable interest. You also made contributions of $6400 to a tax deferred retirement account. You have 2 dependents and file as single. The standard deduction is 3900 and the exemption is 5900 per exemption. What is your Taxable Income? Answer to the nearest dollar.Suppose you made $63,245 of income from wages and $784 of taxable interest. You also made contributions of $6000 to a tax deferred retirement account. You have 3 dependents and file as single. The standard deduction is 3500 and the exemption amount is 5500 per exemption. What is your Taxable Income? Answer to the nearest dollar. 70 hp * M اشتAssume your gross pay per pay period is $4,900 and you are in the 33 percent tax bracket. Calculate your net pay and spendable income if you save $490 per pay period in a tax-sheltered annuity. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) Net Pay & Spendable Income Net pay Spendable income
- Use the following information and the flow chart from the module to calculate: Adjusted gross income ( AGI) Taxable income Show your work for each calculation to receive full credit. An individual has the following information for the current tax year. Assume they do not itemize and they file as head of household. Income from wages, $80,000 Interest earned on savings, $150 IRA contribution, $5,000 Checking account interest earned, $75 Standard deduction for Head of Household: $20,800 Child and Dependent Care Tax credit, $3,000 Filing status: Head of HouseholdFICA Taxes. For each of the following individuals, calculate the FICA taxes and income taxes to obtain the total tax owed. Then find the overall tax rate on the gross income, including both FICA income taxes. Assume that all the individuals are single and take the standard deduction. Use the tax rates on Table 4.9. Jack earned a salary of $44,800 and received $1,250 in interest The solution this problem FICA Tax = $3,427; Income tax = $4881; total tax = $8308; tax rate = 18.0%Use the following federal tax table for biweekly earnings of a single person to help answer the question below. Emeril has gross biweekly earnings of $784.21. By claiming 1 more withholding allowance, Emeril would have $13 more in his take home pay. How many withholding allowances does Emeril currently claim? a. 3 b. 4 c. 5 d. 6
- For the person below, calculate the FICA tax and income tax to obtain the total tax owed. Then find the overall tax rate on the gross income, including both FICA and income tax. Assume that the individual is single and takes the standard deduction. A man earned a salary of $27,000 and received $1250 in interest. Tax Rate Single 10% up to $9325 15% up to $37,950 25% up to $91,900 28% up to $191,650 33% up to $416,700 35% up to $418,400 39.6% above $418,400 Standard deduction $6350 Exemption (per person) $4050 Let FICA tax rates be 7.65%on the first $127,200 of income from wages, and 1.45% on any income from wages in excess of $127,200. His total FICA tax is $____.Below is a graph of the Robinson's annual expenses. How much will the Robinsons pay in state/local taxes if their gross annual household income is S85,420? a.$3.559.17 b. $8,542.00 C. $20.500.80 d. $29,897.00For the person below, calculate the FICA tax and income tax to obtain the total tax owed. Then find the overall tax rate on the gross income, including both FICA and income tax. Assume that the individual is single and takes the standard deduction. A womanearned a salary of $27,000 and received $1000 in interest. Tax Rate Single 10% up to $9325 15% up to $37,950 25% up to $91,900 28% up to $191,650 33% up to $416,700 35% up to $418,400 39.6% above $418,400 Standard deduction $6350 Exemption (per person) $4050 Let FICA tax rates be 7.65%on the first $127,200 of income from wages, and 1.45% on any income from wages in excess of $127,200. Her income tax is $_____.