If you have a taxable income of $369,770.00, what is your top marginal tax rate? total tax bill? S average tax rate? de % %
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- If you have a taxable income of $372,570.00, what is your total tax bill? $ average tax rate? %Given that your gross income for 2020 was $180,000 and your taxable income was $140,000. Calculate: a. the marginal tax rate b. the average tax rate c. the effective tax rate. SHOW WORKHow did you get $12,974.50 for the Marginal tax rate part?
- In step 2 how did you get the excess income tax of 19,520.00?(5) Applying the following hypothetical Federal Income Tax Rate Table, for a Single Tax-Filer earning $100,000 annually, calculate the following (Show your Calculations): a) Total Tax Due? b) Marginal Tax Rate? c) Effective Tax Rate?How much is the income tax expense/(benefit) for the fourth quarter? NOTE: If your answer is an expense, indicate a positive amount. If your answer is a benefit, indicate a negative amount
- 2. Using the following Income Tax data, and given that your annual income is $ 85,000: a) Calculate the total tax (in $); b) The average tax rate (%); c) The marginal tax rate (%); and d) What is the classification of this taxation system? Income ($) Tax Rate (%) 0- 60 000 60 001 - 70 000 10 70 001 - 100 000 15 Over 100 000 17. What is the 'low income tax offset' (LITO)? What is the maximum LITO amount payable toeligible taxpayers? PLEASE PUT 3 REFERENCESHow much is the income tax expense/(benefit) for the third quarter? (NOTE: If your answer is an expense, indicate a positive amount. If your answer is a benefit, indicate a negative amount)
- How are you determining income before income tax answer of $166,000?Calculate the tax rate if the tax amount is $ 64.50 on a purchase of $780?Suppose your annual income is $29182 and there are two tax brackets: 10% for $0-$20,000 and 30% for everything above $20,000. What percentage of your income will you pay in taxes? Enter your answer in decimal.