If Ana chose to be taxed at an 8 percent rate, how much is her overall income tax? (based on the provided photo) P321,500 P342,500 P351,500 P358,000
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If Ana chose to be taxed at an 8 percent rate, how much is her overall income tax? (based on the provided photo)
P321,500
P342,500
P351,500
P358,000
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- kuk.3Help me sir pleaseGiven the following tax structure, what minimum tax would need to be assessed on Shameika to make the tax progressive with respect to effective tax rates? (Round your final answer to nearest whole dollar amount.) Muni-Bond Total Tax Salary $ 10,000 $ 50,000 Тахраyer Interest $ 600 $ 10,000 $ 30,000 Mihwah Shameika ??? Minimum tax
- Your high-earning great-grandparents paid federal income tax in 1963. Their total income was $165,000. a. Calculate their federal income tax bill. Income Marginal Tax Rate $0 to $4,000 $4,000 to $24,000 $24,000 to $64,000 $64,000 to $164,000 $164,000 20% 30% 54% 75% 91% Calculation b. What was your great-grandparents' effective (or average) federal tax rate? Total tax bill Tax c. How might your great-grandparents' decisions about how much to work have been influenced by their marginal tax rates?Question 1 (Marks - 10) Calculate Total Assessable Income, Taxable Income, Tax Liability, Student loan (HECS), Medicare Levy, and Medicare Levy Surcharge if applicable, for the taxpayer (Susanne) with the information below: • Susanne is a single and an Australian resident plans to lodge a tax return for the tax year 2020 - 2021. • Her total taxable income is $90,000 (Including tax withheld). • She does not have private health insurance. • Susanne has a student loan HECS outstanding for her previous study at Sydney University of $53,000. • Her employer pays superannuation guarantee charge of 9.5% on top of her salary to her nominated fund. • Susanne earned a passive income of $10,000 from the investments in shares in the same tax year.5A
- A woman is in the 15% tax bucket and itemizes her deductions. How much will her tax bill be reduced if she makes a$200 tax deductible contribution to charity A. $30 B. $200 C. $0 D. $170A woman is in the 15% tax bracket and itemizes her deductions. How much will her tax bill be reduced if she makes a $200 tax deduction contribution to charity? A. $30 B. $200 C. $ 0 D $ 170Suppose a tax is such that an individual with an income of $10,000 pays $2000 of tax, a person with an income of $20,000 pays $3000 of tax, a person with an income of $30,000 pays $4000 of tax, and so forth. What is each person’s average tax rate? Is this tax regressive, proportional, or progressive?
- 4. Based on the following data, would Beth and Roger Simmons receive a refund or owe additional taxes? (LO3.2) Adjusted gross income, $42,140 Credit for child and dependent care expenses, $400 Standard deduction, $24,800 Federal income tax withheld, $2,017 Tax rate on taxable income, 10 percentProblem 8-59 (LO 8-2) (Static) [The following information applies to the questions displayed below. In 2023, Juanita is married and files a joint tax return with her husband. What is her tentative minimum tax in e following alternative circumstances? Use Tax Rate Schedule. Dividends and Capital Gains Tax Rates for referes Note: Input all values as positive. Leave no answer blank. Enter zero if applicable. Problem 8-59 Part a (Static) a. Her AMT base is $100,000, all ordinary income. Answer is complete but not entirely correct. Amount $ 100,000 Description (1) AMT base (2) Dividends taxed at preferential rate (3) Tax on dividends (4) AMT base taxed at regular AMT rates (5) Tax on AMT base taxed at 26% rate (6) Tax on AMT base taxed at 28% rate Tentative minimum tax 0 0 100,000 161,000 ›› › ›*** 41,860 X 0xMa4. Are these actions taxable? If yes, where would it go on tax return? (2020) Child Support Payment from Kevin Hamblin $12,000 Alimony Payment from Kevin Hamblin $16,000 Gift from her father to help with legal bills $8,500 Interest income on U.S. Treasury Bond $400 Interest income of Madison City Bond (municipal bond) $250 Interest income from First Bank of Madison $165 Life insurance proceeds on the death of her mother $45,000
