Siven the following tax structure, what minimum tax would need to be assessed on Shameika to make the tax prog espect to effective tax rates? (Round your final answer to nearest whole dollar amount.) Muni-Bond Salary $ 10,000 $ 50,000 Total Tax Тахраyer Mihwah Interest $ 600 $ 10,000 $ 30,000 Shameika ???

Siven the following tax structure, what minimum tax would need to be assessed on Shameika to make the tax prog espect to effective tax rates? (Round your final answer to nearest whole dollar amount.) Muni-Bond Salary $ 10,000 $ 50,000 Total Tax Тахраyer Mihwah Interest $ 600 $ 10,000 $ 30,000 Shameika ???

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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 ???
Please answer items 4 & 5 with solution. Thank you!
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hi! 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?
ront Peragraph Styies Edting Senitty Now let's do a problem where we know the person's taxes and want to find their taxable income, and their AGI You may find the functions you determined in the question above helpha 6. Suppose someone paid $17,500 in taxes What could this person's adjusted gross income be? 1040 Linels) Description Amount 1 and Sb Wagen, salanes, and Sps Adjusted gross income (AGI) Standard deduction and exemption (singie. nondependent) Subtract line 5 trom line 4 Taxable income Total Tax (hom schedule) Elfective tax rate (tax asacentage of all income) 11a $12 200 11b $17.500 2019 Tax Schedule (NOT ued for HW- separate Tax Schedules previded wm Single Taxable Income Tax Brackets and Rates, 2019 If taxxable income is over- but not oer the tax i $0,700 $0,700 $39,475 584 200 $160,725 $204, 100 $30 475 $94.200 $160,725 $204.100 $610,300 10% of the amount over $0 $970 plus 12% of the amount over $0,700 $4,543 plus 22s of the amount over $39475 $14,382 plus 24 of the amount…
What is the alternative minimum tax (AMT) rate for individuals? 1 %. 7%. 12.3%. 20%.
Given the following tax structure: Taxpayer Mae Salary $ 44,500 Pedro $ 68,500 Total Tax $ 3,738 ??? Required: a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax p b. This would result in what type of tax rate structure? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Minimum tax $5,754 X mirod Required P
assessed on Shameika to make the tax progressive with respect to average tax rates? Total tax Divide by Salary income Average tax rate for Mihwah Taxable income for Shameika X Average tax rate Tax baxed on average tax rate Average tax rate for Mihwah = 736 16,000 = 4.6 736 16000 Shameika must pay greater than $3080 to make tax rate progressive Minimum tax 4.60% 68000 4.60% 3,128 3,129 x 100
Accounting
Use compute the income tux oved by the followrng Sing al male me the 2016 Marginal tax netes to berson, dependlente Crross income Adjusments Dedictions $94,000 $4000 $26000 mortgegl $ 4402 broperty taxes interes $ 1000 Charitalle contributions Tax Credit = None The income tax owed is$ Find
Please answer correct with good presentation using commas and dollar sign in each figure
Using the tax rate schedule given here LOADING..., perform the following: a. Find the marginal tax rate for the following levels of sole proprietorship earnings before taxes: $ 15 000; $ 60 000; $ 90 000; $ 150 000; $ 250 000; $ 450 000; and $1 million. b. Plot the marginal tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis) $0 to $9,875 $0 (10% amount over $0) 9,876 to 40, 125 988 + (12% amount over 9, 876) 40, 126 to 85, 525 4,618 + (22% amount over 40, 126) 85,526 to 163, 300 14, 606 + (24% amount over 85, 526) 163, 301 to 207, 350 33, 272 + (32% amount over 163, 301) 207, 351 to 518, 400 47,368 (35% amount over 207, 351) 518,401 to Unlimited 156, 235 (37% amount over 518, 401)