Use the 2016 marginal tax rates to compute the income tax owed by the following person. Single male, no dependents. Gross income:$94,000 Adjustments:$2000 Deductions:$34,000 mortgage interest $4095 property taxes $3000 charitable contributions Tax credit:none 1 Click the icon to view the 2016 marginal tax rates. The income tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)

Use the 2016 marginal tax rates to compute the income tax owed by the following person. Single male, no dependents. Gross income:$94,000 Adjustments:$2000 Deductions:$34,000 mortgage interest $4095 property taxes $3000 charitable contributions Tax credit:none 1 Click the icon to view the 2016 marginal tax rates. The income tax owed is $ (Type an integer or a decimal. Round to the nearest cent as needed.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Find the amounts that are missing from this summary of an income tax return: a. Gross income $42,685 b. Adjustments to income $3,670 c. Adjusted gross income d. Deductions $8,978 e. Adjusted gross income less deductions f. Exemptions (4 $3,100) $12,400 g. Taxable income Vince Bottolito's adjusted gross income on his federal tax return was $53.748. He claimed the standard deduction of $4,850, and one exemption at $3,100. What was Vince's taxable income? The Valek's gross income last vear was $64.890. They had adjustments to income totaling S3.829. Their deductions totaled $12.502. and they had four exemptions at S3.100 each. Find their taxable income.
Vishnu
Example 4-2 To compute the tax using the percentage method, follow the steps illustrated below. Step 1 Determine the amount of gross wages earned, marital status, number of allowances, and frequency of pay. Note: If the wage ends in a fractional dollar amount, the wage may be rounded to the nearest dollar. However, in this text, exact wages are used. ➡ Wilson Goodman, single, claims two allowances and earns $915.60 semimonthly. Step 2 Multiply the number of allowances claimed by the amount of one allowance for the appropriate payroll period, as shown in the Table of Allowance Values in Figure 4.6. ➡ Table of Allowance Values for semimonthly payroll period shows $175.00. Multiply $175.00 × 2 = $350.00 Step 3 Subtract the amount for the number of allowances claimed from the employee’s gross pay to find the excess of wages over allowances claimed. ➡ Gross pay $915.60 Less: Allowances 350.00 Excess wages $565.60 Step 4…
Use the 2010 marginal tax rates to compute the income tax owed by the following person Sngle male, no dependenta Gross income $79,000 Adjustmenta 12000 Deductiona. $20,000 mortgage interest 2010 Marginal Tax Rates 54605 property taxes sz000 chantable contributions Tax credt none 2016 Marginal Tax Rates, Standard Deductions, and Exemptions Unmarried, divorced, Married and each partner Married and both Click the icon to view the 2010 marginal tax rates Unmarried and paying or legally separated files a separate tax return partners file a single more than half the cost of supporting a child or parent The income tax owed is tax return (Type an ineger or a decimal. Round to the nearest cent as needed.) Tax Rate Single up to $9275 Married Filing Separately Married Filing Jointly Head of Household 10% up to S0275 $8276 to $37 650 up to $18,550 up lo $13,250 $13.251 to $50,400 15% S0276 to $37.650 $37 661 to $91,150 $18,551 to $75,300 25% $37,651 to $75.950 $75,301 to $151.900 $151.901 to…
Effect of tax credit versus tax exemption Explain and calculate the differences resulting from a $1,000 tax credit versus a $1,000 tax deduction for a single taxpayer with $48,000 of pre-tax income. The standard deduction in 2018 was $12,000 for single. Note that personal exemptions were suspended for 2018. Use Exhibit 3.3 to determine the corresponding tax rate. Round the answers to the nearest cent. After-tax Income (Tax Deduction) After-tax Income (Tax Credit) $ $
Given the following tax structure, Taxpayer Salary Total tax $21,500 $1,032 $46,000 ??? Mae Pedro a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? (Round your final answer to nearest whole dollar amount.) Minimum tax b. This would result in what type of tax rate structure? Tax rate structure
A9
This is for financial mathhh please helpp
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 % %
Round the answer to the nearest dollar
Use the 2016 marginal tax rates to compute the tax owed by a married man filing separately with a taxable income of $143,000.
Consider gross earnings of $86,000. The standard deduction is $12,000 and itemized deduction is $8,000. Social security tax rate is 6.2%; Medicare tax rate is 1.45%. How much is the taxable income (for federal income tax)? Give typing answer with explanation and conclusion

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