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)

Income Tax is a statutory or mandatory tax payable by the individuals and other entities on the…

Answered: Using the tax rate schedule given here…

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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Based on the following data, calculate the items requested: Buying Costs Annual mortgage payments Property taxes Down payment/closing costs Growth in equity Insurance/maintenance Estimated annual appreciation Rental Costs Annual rent Insurance Security deposit $ 8,230 $ 230 $ 1,075 Assume an after-tax savings interest rate of 7 percent and a tax rate of 32 percent. Assume this individual has other tax deductions that exceed the standard deduction amount. Rental cost Buying cost a. Calculate total rental cost and total buying cost. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) $ 10,450 (10,000 is interest) $ 2,120 $ 5,150 $ 450 $1,900 $ 2,550 b. Would you recommend buying or renting? O Renting O Buying
The following table shows tax due for the given taxable income level for a single taxpayer. Taxable income Tax due $97,000 $97,050 $97,100 $97,150 $97,200 $21,913 $21,927 $21,941 $21,955 $21,969 (a) Show that the data in the table are linear. For every change of $50 in the taxable income there is constant change of $ 1.00 in the tax due. These data exhibit a constant rate of change and are linear. (b) How much additional tax is due on each dollar over $97,000? (Round your answer to the nearest cent.) per dollar (c) What would you expect for your tax due if you had a taxable income of $97,000? 24 What would you expect for your tax due if you had a taxable income of $98,000? $ (d) Find a linear formula that gives tax due T if your income is A dollars over $97,000. (Round equation parameters to two decimal places.) T =
Express the following comparative income statements in common-size percents. Using the commonsize percentages, which item is most responsible for the decline in net income?
Marginal tax rates Using the tax rate schedule attached Perform the following: a. Find the marginal tax rate for the following levels of sole proprietorship earnings before taxes: $16,800; $59,500; $89,600; $151,000; $245,000; $451,200; $1,000,000 b. Plot the marginal tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis).
suppose that the first $ 5000 income earned is not taxed at all, the next $ 10000 earned is taxed at the rate of 15%, any further income is taxed at the rate of 30%. Construct Marginal Tax Rate as a function of income, graph it. Let y denote income. show that the function is discontinuous at y = 5000 and y = 15000
Use the net FUTA tax rate of 0.6% on the first $7,000 of taxable wages. Queno Company had FUTA taxable wages of $510,900 during the year. Determine its: (Round your answers to two decimal places.) a. gross FUTA tax $fill in the blank 1.b. FUTA tax credits (assuming no penalties) $fill in the blank 2.c. net FUTA tax $fill in the blank 3.
If the net income after tax is 120000 OMR, depreciation is 5000 OMR, amortization is 2000 OMR, interest is 2500 OMR, tax is 2500 OMR, total debts 26400 OMR, find Debts to EBITDA ratio. (use this formula 0.0) Answer:
Problem 1-29 (ACP) is 30% of income after bonus. Required: Determine the bonus under each of the following independent assumptions: 2. Bonus is a certain percent of income after bonus but before tax. 3. Bonus is a certain percent of income after bonus and after tax. 4. Bonus is certain percent of income after tax but before bonus
Suppose you get a raise and your taxable income increases from $2,000 to $8,000, use the information below to calculate the MARGINAL tax rate on income of $8,000. (Do NOT include % sign in your answer) Total Taxable Income Total Taxes Paid $0 $0 $2,000 $4,000 $200 $600 $6,000 $1,200 $8,000 $2,000
5
Use the following tax table to determine how much income tax is paid on 512500 of taxable income. Single Taxable Income Tax Brackets and Rates, 2017 Rate Taxable Income Bracket 10% $0 to $9,325 15% $9,325 to $37,950 25% $37,950 to $91,900 28% $91,900 to $191,650 33% $191,650 to $416,700 35% $416,700 to $418,400 39.60% $418,400+
If an after-tax rate of return = 10% is required and the Effective tax rate is 35%. What is the estimated MARR for before tax economic analysis. Select one: a. 13.4 % b. 19.4 % c. 17.4 % d. 15.4 %

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