If John earned $645.90 in gross pay what would he pay in state tax?
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Q: Used the 2016 FICA tax rates from below to answer the following question. if a taxpayer is not…
A: Using 2016 FICA tax rates:Tax rate is:7.65% on first $118500 of Income1.45% on Income in excess of…
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A: Given income of John is 160000 In case of slab rate of tax, tax liability has to be calculated based…
Q: receive a refund of $500 for state income taxes when he files his state taxes that Tim can deduct as…
A: Step 1 An itemized deduction is an expense that can be subtracted from adjusted gross income (AGI)…
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Q: What penalties will Chip owe if his current year tax is $41,000? $35,800? nonalty)
A: Unpaid taxes are subject to their own charges. Even if a customer files his / her returns or…
Q: what would the average tax rate for a person who paid taxes of $6,435 on taxable income of $40,780?
A: Tax Paid = $6,435Taxable Income = $40,780 Calculation of Average Tax Rate:
Q: Your adjusted gross income is $9,438. If you are single, how much tax do you owe?
A: Tax is the charge which is to be paid to the government on having the income above the income…
Q: Esposito's yearly taxable income totals $78,000, and he pays $20,050 in federal income tax every…
A: Espsito's Yerly taxable income is $78,000 Tax paid is $20,050 To Find: Net Federal income tax…
Q: Miriam Anne is a single taxpayer. What federal taxes does she pay if her taxable income is (a)…
A: Given that: Miriam Anne is a single taxpayer.
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A: Income tax: Income tax is a tax levied on an individual’s income (taxable income). It is a direct…
Q: state income taxes, personal property taxes of $500, and local real estate taxes of $5,000 on her…
A: Itemized deductions are defined as the expenses which are eligible, that the individual taxpayers…
Q: Brian, a self-employed individual, pays state income tax payments of: $ 900 on January 15, 2020…
A: SOLUTION- DEDUCTION- IT IS THE INVESTMENT/EXPENDITURE THAT HELPS IN REDUCING THE TAX PAYABLE.
Q: Calculate the Federal and Provincial Income Tax for an individual who’s single with no kids and has…
A: calculation of final tax payable for this individual are as follows
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A: Tax is a charge which is charged on the taxable income of a taxpayer earned during the year by a…
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A: Given information: Federal income taxes at the incremental rate of 22% State income taxes at the…
Q: 8. Antwan Campbell earns $494 per week. He is married and claims 1 child as a dependent. The state…
A: Antwan Campbell Earnings : $494 per week Status : Married State tax rate : 2.25%
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A: Jake pays $ 8500 in the deductible property taxes. We are supposed to calculate the savings in tax…
Q: An unmarried individual in California with a taxable income of about $75,000 has a federal…
A: Combined incremental tax rate means the sum of federal incremental tax rate and state incremental…
Q: Roger paid the following taxes during 2021: State Income Tax $6,700 Real Property Taxes on his home…
A:
Q: (d) What is Kevone's taxable income? (e) Kevone paid $16,300 in taxes last year. Will Kevone get…
A: In the context of the given question, we are required to compute taxable income and the amount of…
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A: Given, Allen Green is a Single Tax Payer:- Net Investment = Interest Income + Dividends + Long term…
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A: Alternative Minimum Tax (AMT) is a tax liable on the minimum income earned by a person in the United…
Q: Maria made $100,000 from long-term investments and Steve made $100,000 from wages. Both are filing…
A: (1) Tax Payer - Maria : (a) Income from Long-term Investments = $ 100,000 (b) Status = Single (2)…
Q: Cassy reports a gross tax liability of $1,190. She also claims $590 of nonrefundable personal…
A: Correct Answer = $ 585 Refund Calculation Calculaton Tax liability due / Refund of Cassy ($)…
Q: Dave Scott's total income is $52,000, but his taxable income is only $39,625. Therefore, his tax…
A: Formula:
Q: Robert is a single taxpayer who has an AGI of $145,000 in 2020, his taxable income is $122,000. What…
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A: Self-employed tax is a combination of social security tax and Medicare taxes. The self-employment…
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A: Tax is the charge which the taxpayer has to pay on the taxable income earned during the year. Given…
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A: Standard deduction: It is the reduction in total income, which in turn would result in a reduction…
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A: A tax can be defined as a mandatory payment made to government by all taxable persons including…
Q: Campbell, a single taxpayer, earns $440,000 in taxable income and $4,000 in interest from an…
A: “Since you have posted a question with multiple sub-parts, we will solve the first three subparts…
Q: Chuck, a single taxpayer, earns $76,300 in taxable income and $11,500 in interest from an investment…
A: A taxpayer is a person or a legal body (such as a corporation) who is obligated to pay a tax. The…
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A: SOLUTION- COMPUTATION OF TAX DUE - GROSS SALES 2800000 LESS- TAX EXEMPT INCOME (250000)…
Q: eason. You find that you paid $3,296.44 in Federal Taxes. Using your taxable income and the tax…
A: Answer You receive a tax refund of $280.44 because you paid more taxes last year than you should…
Q: Kamryn Brown is single and earns $65,000 in taxable income and will use the following tax rate…
A: Income tax is charged by the government on the income of their citizen. It is calculated on the…
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Q: 58, reports taxable income of $510,000 in 2021. His AMT base is $625,000, and his regular tax…
A: AMT Adjustment Explanation Because some tax items are treated differently for AMT purposes, a…
Q: A man earned wages of $38,000, received $1900 in interest from a savings aCcount, and contributed…
A: The Internal Revenue Service, known as the IRS, governs the income tax collections, refunds, and…
Q: Geronimo files his tax return as a head of household for year 2021. If his taxable income is…
A:
Q: If the tax rates are 15% on the first $50,000 of taxable income, and 20% on the next $25,000, and…
A: The marginal tax rate is the tax rate paid on the next dollar of income. It is the highest tax…
Q: chuck a single taxpayer, earns $78,300 in taxable income and $13, 600 in interest from an investment…
A: The sum of incremental tax paid for each extra dollar of income received is known as the marginal…
Q: In 2020, Courtney, 16 and a dependent of her mother, had earned income of $4,000 and interest income…
A: Taxable income refers to the income which is subject to tax as per the government's regulations. All…
Q: Bill Shass pays a property tax of $3,200. In his community, the tax rate is 50 mills. What is Bill’s…
A: Data Given: Property tax = $3,200 tax rate =50 mills Note: Mill rate is the amount per $1000 of the…
Q: For the person below, calculate the FICA tax and income tax to obtain the total tax owed. Then find…
A: Gross pay: It is the total amount of wages earned by employees without deducting any taxes or…
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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 amountChuck , a single taxpayer earns $81,400 in taxable income and $13,600 in interest from an investment in City of Heflin bonds. a. How much federal tax will he owe? b. What is his average tax rate? c. What is his effective tax rate? d. What is his current marginal tax rate?Chuck, a single taxpayer, earns $75,600 in taxable income and $10,700 in interest from an investment in City of Heflin bonds. A.how much federal tax will he owe. B. What is his average tax rate? C. What is his effective tax rate? D. What is his current marginal tax rate?
- Chuck a single taxpayer earns $78,000.00 in taxable income and $13, 300.00 in interest from an investment in city of heflin bonds. How much federal tax will he owe? What is his average tax rate? What is his effective tax rate? What is his current marginal tax rate?Marc's total taxable income is 140 000 . What will he have to owe the federal government and quebec government . Finally what is his total tax payable ??What is the marginal tax rate for a single individual if her taxable income is $20,000? $40,000? 60,000? What is her tax bill for each of these income levels? What is her average tax rate for each of these income levels?
- 4.An individual made $85,000 for the year. Using the tax given , answer the following questions: A.What is this person's marginal tax rate? B.How much tax does this person owe? C.What is the effective tax rate?Chuck, a single taxpayer, earns $77,800 in taxable income and $13,100 in interest from an investment in City of Heflin bonds. (Use the U.S tax rate schedule.) Required: How much federal tax will he owe? What is his average tax rate? What is his effective tax rate? What is his current marginal tax rate?Calculate the Federal and Provincial Income Tax for an individual who’s single with no kids and has an annual taxable income of $115,000? What’s the final tax payable for this individual?
- Post Malone, a single taxpayer, earns $78, 200 in taxable income and $11, 700 in interest from an investment in City of Boston bonds. (Use the U.S tax rate schedule.) Required: How much federal tax will he owe? What is his average tax rate? What is his effective tax rate? What is his current marginal tax rate?Liam has a gross income of $120,000 and takes the standard deduction. 1) What are his total taxes due? 2) What is his marginal tax rate? 3) What is his effective tax rate? Round to the neared hundredth of a percent.What would be the average tax rate for a married couple with income of $90,500? What would be the average tax rate for an unmarried taxpayer with income of $90,500?