cludes $2,700 of dividends?
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Assume a single taxpayer is taxed at 10% on the first $9,875 of taxable income, 12% on the next $30,250 of income, and at 22% for the following $45,400 of income. What is the tax liability for a single individual with $55,500 of taxable income, which includes $2,700 of dividends?
Multiple Choice
$8,440.00
$9,126.25
$8,000.00
$9,873.50
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- Given the following tax structure, what minimum tax would need to be assessed on Shameika to make the tax progressive with respect to average tax rates? Taxpayer Mihwah Shameika Minimum tax Salary $ 16,000 $ 68,000 Muni-Bond Interest $ 6,750 $ 24,500 Total Tax $ 736 ???The 2009 U.S. tax rates for a single person are shown below. If taxable income is over But not over- The tax is: $8,350 $33,950 $82.250 $8,350 $33.950 S82 250 $171.500 10% of the amount over $0 $835 plus 15% of the amount over $8,350 $4,675 plus 25% of the amount over $33,950 $16,750 plus 28% of the amount over $82,250 $41,740 plus 33% of the amount over $171,500 $108,218 50 plus 35% of the amount over $372.950 $171,500 $372,950 no limit $372.950 Suppose Carson has total income of 5650,000, the personal exemption is $3,650, and the standard deduction is $5,700. Carson's marginal tax rate is%. (Enter your response as an infeger)rmn.3
- Allen Green is a single taxpayer with an AGI (and modified AGI) of $217,000, which includes $173,500 of salary, $27,100 of interest income, $10,700 of dividends, and $5,700 of long-term capital gains. What is Allen's net investment income tax liability this year, rounded to the nearest whole dollar amount? Multiple Choice $1,653 $3,162 $863 $646Don't give answer in imagehi! for the tax on taxable income, I used the attached tax table, and found 6415+22%(61422-55900)=7630. Isn't that the way we should calculate the tax?
- 1. Peter is 66 years old and single. He has the following Income and expenses: What is his taxable income Salary $40,000 Property taxes $7,000 Mortgage int exp. $6,000 Select one: a. $27,600 b. $27,000 c. $25,950 2. Which of the following will be taxed at ordinary income tax rates? Select one: a. A taxpayer selling stock he has held over one year and a qualified dividend b. Sale of your computer to another party at a gain that you have held for 2 years C. A business selling inventory and an individual taxpayer selling his car that he held for 6 months at a gain d. Salary and a qualfied dividendUse table to calculate Ed Robinsons income tax due on his $450,000 income, assuming that he files as a single taxpayers. Use table to calculate Ed Robinsons income tax due on his $450,000 income, assuming that he files as a single taxpayers. Use table to calculate Ed Robinsons income tax due on his $450,000 income, assuming that he files as a single taxpayers.Now consider another hypothetical tax code. Assume the tax rate on the first $15,000 of taxable income is 10% and the tax rate on any additional income is 18%. The standard deduction ($6,350) and personal exemption ($4,050) still apply. In other words: . For taxable income from $0 to $15,000, you pay 10% of your taxable income in taxes, plus . For taxable income above $15,000, you pay 18% of your taxable income. 1. If your total income before exemptions were $10,000 how much would you pay in taxes? 2. If your total income were $20,000 how much would you pay in taxes? 3. If your total income were $50,000 how much would you pay in taxes? 4. Write a function to model the total tax paid, T(x), with a total income of x dollars. 5. Create a graph that shows taxes paid as a function of total income for the total income between $0 and $60,000. 6. How many different slopes are on this graph?
- A single individual that has 100,000 taxable income before dividends and is in the 28% marginal tax bracket, if that individual receives a qualified cash dividend of 1,000 the tax rate applied to the dividend would be 15%. What would be the tax liability for the individual? Note Tax tables 34,000 – 82,400 = 4,581.25 + (82,400 – 34,000) x 25%For a corporate taxpayer, how much additional tax savings is generated by a $1,000 tax credit as compared to a $1,000 tax deduction? Correct answer should be $790The table below shows a certain state's income tax rates for individuals filing a return. Complete parts (A) through (D below. SINGLE, MARRIED FILING SEPERATELY, OR HEAD OF HOUSEHOLD SINGLE, MARRIED FILING SEPERATELY, OR HEAD OF HOUSEHOLD Over $0 $12,500 $50,000 But Not Over $12,500. $50,000 Tax Due Is 4% of taxable income $500.00 plus 6.25% of excess over $12,500 $2843.75 plus 6.5% of excess over $50,000 (A) Write a piecewise definition for T(x), the tax due on a taxable income of x dollars. if 0≤x≤12,500 T(x)= if 12,500 x≤50,000 if 50,000 < x (Use integers or decimals for any numbers in the expressions.)
