Calculate the amount of property tax due: (Round your answer to the nearest cent.)       Tax rate Assessed value Amount of property tax due $8.75 per $100 $125,000

Q: Leo's townhouse has a market value of $310,000. The property in Leo's area is assessed at 40% of the…

A: The market value of townhouse is $310,000.The property is assessed at 40% of market value.

Q: if you have a percentage tax due of 70,000, is this monthly or quartelry paid to BIR

A: Given in the question: Percentage tax due is 70,000 Taxes have to be paid to the department of tax…

Q: Richard eami $42,250 perycao. what i8 hi8 annual Income tax-2

A: Income tax is the tax that is paid by the individuals and the businesses to the government on the…

Q: Rental House: Purchase price $79,000, ( Remaining Loan Balance: $66,102) Depreciation Costs…

A: The term like-kind exchange means a tax-deferred transaction that allows for the disposal of an…

Q: Using the following table, calculate the taxes for an individual with taxable income of $25,800.…

A: Tax is the amount of money paid by a tax payer to the appropriate tax authorities on the basis of…

Q: Determine the tax rate. Round to the nearest cent or nearest hundredth. Assessed property value:…

A: The tax rate can be determined in the following manner:  (Expenses to be funded by property…

Q: Calculate net earnings. Gross pay $250.00 Fed Tax $17.88 Social Security Tax $10.71 Medicare tax…

A: Gross Pay = 250 Federal Tax = 17.88 Social Security Tax = 10.71 Medicare Tax = 3.25

Q: Simple Accounting - Property Tax. Market Value Tax Policy Rate Property Tax $1,370,980.00 50.75%…

A: Property Tax = Property Tax is the tax imposed on property by the authority.

Q: An individual has taxable general income of £70,000 (before deducting the personal allowance). He…

A: Tax is the payment made to the applicable authority by those parties who have generated some sort of…

Q: Based on the following data, calculate the items requested: Buying Costs Rental Costs Annual rent…

A: Solution:a.  Total rental cost Particulars A,mount $Rent $ 8,180Insurance $ 225Interest on security$…

Q: The home of Bill Burton is assessed at $93,000. The tax rate is 18.7 mills. What is the tax on…

A: Property tax is defined as the amount of tax that is given on the assessed value of the property of…

Q: Marc, a single taxpayer, earns $61,600 in taxable income and $5.360 in interest from an in is his…

A: It's important to note that the average tax rate may differ from the marginal tax rate, which is the…

Q: What would be the average tax rate for a person who paid taxes of $4,375 on a taxable income of…

A: taxes paid = $4,375Taxable income = $32,000Average tax rate = taxes paid / taxable income * 100

Q: You are considering purchasing a new piece of equipment (7yr MACRS property) for your manufacturing…

A: The modified accelerated cost recovery system (MACRS) is a depreciation system used for tax purposes…

Q: Given the following tax structure, what minimum tax would need to be assessed on Shameika to make…

A: The tax due and the taxable income can be used to calculate the tax rate. The overall tax rate used…

Q: A tax credit of $100 for a person in a 24 percent tax bracket would reduce a person's taxes owed by:…

A: Tax credit = $100 Tax rate = 24%

Q: Based on the following data, calculate the items requested: Rental Costs Annual rent Buying Costs…

A: Capital budgeting involves the evaluation of various options available for investments or projects.…

Q: for Schedule C in individual income tax, how do I calculate the expense for transportation of 5725…

A: Deductible expenses in respect of gifts = $ 400.

Q: John's Market is assessed for $99,314. The current tax rate is 85.96 per $1426 of assessed value.…

A: Assessment is the process of estimating the income of the taxpayer for the purpose of calculating…

Q: 5. Bradkin's Toggery owns property with a fair market value of $209,200. Property in the area is…

A: The amount that a landowner pays each year to the municipal corporation or local government in his…

Q: You have some property which has an assessed value of $240,900. If the tax rate is 56.40 mills,…

A: Introduction  The mill rate is based on mills which is derived from Latin word millesimal which…

Q: Given the following tax structure, what minimum tax would need to be assessed on Shameika to make…

A: The tax rate can be determined using the tax liability and the taxable income. The average tax rate…

Q: Will owns some property that has an assessed value of $36,592. Calculate the tax due if the tax rate…

A: Mill rate calculates the amount per thousand of the assessed value. The tax due is calculated by…

Q: You own a townhome with and assessed value of 182,300. The tax rate is $2.20 per $100 of assessed…

A: The property taxes are levied on the assessed value of the property . The tax authorities offer a…

Q: some property which has an assessed value of $240,500. If the tax rate is 65.90 mills, calculate the…

A: There are taxes to be paid on the property according the prevailing tax rate and amount of tax due…

Q: Based on the following data

A: Adjusted Gross Income  (AGI) is defined as gross income minus adjustments to income.…

Q: The original price of an item was $146. Given that the total price with tax was $156.45, determine…

A: Original Price after tax = op = $146Total Price Before Tax = tp = $156.45

Q: Which one of the following amounts represents the maximum amount that you may deduct for moving…

A: Moving expenses: These are the expenses associated related to your moving your household’s goods and…

Q: Q2a.Define the term ad valorem tax. What are the three criticisms of the property taxes of local…

A: 2a. Ad valorem taxation is a type of taxation that is based on the assessed value of an item, such…

Q: 12 If your state has a property tax rate of 0.063, and you pay $8,323 in property taxes every year,…

A: Given: Property tax rate = 0.063 Property tax = $8,323

Q: Calculate the amount of property tax due:       Tax rate Assessed value Amount of property tax…

A: The formula used as follows: Amount of property tax due=Assessed value of property×Tax rate

Q: Siven the following tax structure, what minimum tax would need to be assessed on Shameika to make…

A: The average tax rate is computed by dividing the entire amount of tax paid by the total amount of…

Q: A property placed on tax rolls at $10,000 by the tax assessor in a region where the government…

A: Property Tax = Property Tax rate(Mill rate)*Taxable value

Q: "What is the tax on a property with an assessed value of $88,700 if the tax rate is 4.5% of the…

A: Assessed value is a real estate asset's price. Assessed value is used to calculate its property…

Q: If your gross salary is $273 000 and your taxable income is $73 000 and your tax rate is 25% how…

A: A tax is a necessary contribution or financial charge levied by the government on the income earned…

Q: Given the following information, calculate the total annual tax liability of the homeowner: market…

A: Tax liability refers to the amount of tax that an individual or entity owes to the government based…

Q: Schedule Z-If your filing status is Head of household The tax is: If your taxable income is: of the…

A: Head of households is one of the types of filing status for the persons in the USA. For filing the…

Q: Ossie owns some property which has an assessed value of $174,800. Find the tax due if the tax rate…

A: Property tax is a mandatory legal tax which is paid by the owners of a real estate to the…

Q: If Hulk has taxable income = $94,000, how much will it pay in taxes?  Select one: a. $16,750 b.…

A: Taxable Income = 94,000   Brackets: Up-to 50,000 = 15% tax rate 50,001 to 75,000 = 25% tax rate…

Q: 10. Property valued at $130 000 is assessed at 2/13 of its value. What is the amount of tax due for…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want…

Q: If your state has a property tax rate of 0.063, and you pay $8,323 in property taxes every year,…

A: The properry taxes will be calculated with the help of following formula  Property tax = Assessed…

Q: Find the tax owed on a purchase of ​$183.11 if the state sales tax rate is 6​%.

A: Taxes are the dues and obligations, which needs to be paid or settled by the business to the…

Q: The tax advantages of home ownership include all of the following except O tax-deductible property…

A: The tax deductions allows a taxable entity to reduce the overall income on which tax is calculated.

Q: Find the property tax on a vacant lot with an assessed value of $32,900 and a tax rate of $4.52 per…

A: For calculating property tax value, we need to use below formula. Property tax = Assessed value *…