You and spouse are filing a joint return. Your current deductions have reduced your taxable income to $88,990, bringing you into the 25 percent tax bracket. The first dollars you earned will be taxed at the bracket. Question content area bottom Part 1 A. 10 percent B. 15 percent C. 25 percent D. 33 percent tax

You and spouse are filing a joint return. Your current deductions have reduced your taxable income to $88,990, bringing you into the 25 percent tax bracket. The first dollars you earned will be taxed at the bracket. Question content area bottom Part 1 A. 10 percent B. 15 percent C. 25 percent D. 33 percent tax

PAYROLL ACCT.,2019 ED.(LL)-TEXT

19th Edition

ISBN:9781337619783

Author:BIEG

Publisher:BIEG

Chapter4: Income Tax Withholding

Section: Chapter Questions

Problem 3SSQ

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Question 4 Use the following Total Tax / Annual Income relationship to determine which of the following is Beverly's total tax for last year if her income last was $164,000. What total income tax did Beverly pay in income tax. $52,480.00 $33,495.50 $32,800.00
Question 4 Use the following Total Tax / Annual Income relationship to determine which of the following is Beverly's total tax for last year if her income last was $164,000. What total income tax did Beverly pay in income tax. Group of answer choices $52,480.00 $33,495.50 $32,800.00
Activity 5Answer the following questions below using the graduated tax table. Write your answer on the space provided after every questions.a. How much is the tax due on a taxable income of P150,000?Answer:b. How much is the tax due on a taxable income of P290,000?Answer:c. Ms. Carol earns compensation income of P3,230,000 during a taxable year. How much is the tax due of Ms. Carol? Answer:d. Mrs. Emily married earns compensation income of P460,000 during 2019. How much 1s the tax due of Mrs. Emily? Answer: Week 5 ACTIVITIES 5 29 Fundamentals of Accountancy, Business and Management 2e. The payslip of Mr. Budoy shows the following information:Basic salary P348,000SSS contribution 6,976PhilHealth contribution 4,500Pag-IBIG contribution 1,210How much is the tax due to Mr. Budoy?Answer:
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Multiple Choice 1-7The Tax Formula for Individuals (LO 1.3) Ramon, a single taxpayer with no dependents, has adjusted gross income for 2020 of $98,000 and his itemized deductions total $9,000. What taxable income will Ramon show in 2020? a.$85,800 b.$85,600 c.$89,000 d.$79,000 e.$74,950
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Question content area top Part 1 Determine how much the following individual will save in taxes with the specified tax credits or deductions. Rosa is in the 28% tax bracket and claims the standard deduction. How much will her tax bill be reduced if she makes a $500 contribution to charity?
QUESTION 3 Following is a partial personal taxable income schedule for a single filer: But Not Over- Difference Over- $ 0 9,525 38,700 $ 9,525 38,700 82,500 $ 9,525 29,175 43,800 Marginal Tax Rate 0.10 0.12 0.22 What would be the maximum dollar amount of income taxes in the $38,700-$82,500 bracket paid by a single filer with taxable income of $82,500?