Use the 2018 federal income tax brackets and rates in Table 3.3 to answer the following question.
Question:
Use the 2018 federal income tax brackets and rates in Table 3.3 to answer the following question.
How much federal income tax should Aman report if she earned taxable income of $32 920 and $17 700 from her two jobs?
Table 3.3
Transcribed Image Text:
Taxable Income (income tax brackets) Tax Rates $46 605 or less 15% of taxable income less than or equal to $46 605; plus Over $46 605 up to $93 208 20.5% of taxable income greater than $46 605 and less than or equal to $93 208; plus Over $93 208 up to $144 489 26% of taxable income greater than $93 208 and less than or equal to $144 489; plus Over $144 489 up to $Z05 842 29% of taxable income greater than $144 489 and less than or equal to $205 842; plus Over $205 842 33% of taxable income greater than $205 842
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (8 reviews)
First we need to calculate Amans total taxable income by ...View the full answer
Answered By
Nikka Ella Clavecillas Udaundo
I have a degree in psychology from Moi University, and I have experience working as a tutor for students in both psychology and other subjects. I am passionate about helping students learn and reach their potential, and I firmly believe that everyone has the ability to succeed if they receive the right support and guidance. I am patient and adaptable, and I will work with each individual student to tailor my teaching methods to their needs and learning style. I am confident in my ability to help students improve their grades and reach their academic goals, and I am excited to work with a new group of students.
0.00
0 Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics With Canadian Applications
ISBN: 9780135285015
12th Edition
Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday
Question Posted:
Students also viewed these Mathematics questions
-
How much federal income tax should Aman report if she earned taxable income of $32 920 and $17 700 from her two jobs? Use the 2012 federal income tax brackets and rates in Table 3.3 to answer the...
-
Use information from Table 16.2 to answer the following questions about sound in air. At 20oC the bulk modulus for air is 1.42 X 105 Pa and its density is 1.20 kg/m3. At this temperature, what are...
-
Use the following payoff matrix to answer the following questions. Suppose this is a one-shot game:a. Determine the dominant strategy for each player. If such strategies do not exist, explain why...
-
All of the following complications are more common in ventouse assisted delivery than forceps except: a) Subgaleal hemorrhage b) Cephalhematoma c) Intracranial hemorrhage d) Transient lateral rectus...
-
How does the developed world's insatiable need for electronics and other goods contribute to violent conflicts in some developing regions?
-
What type of lava erupts at divergent boundaries? What type erupts at convergent boundaries?
-
A proposed chemical plant has the following projected costs and revenues in millions of dollars: Using an MACRS depreciation schedule having a class life of \(5 \mathrm{yr}\), (a) Compute the cash...
-
"Sanders Enterprises, Inc., has been considering the purchase of a new manufacturing facility for $164,500. The facility is to be fully depreciated on a straight-line basis over 7 years. It is...
-
A company manufactures a single product. Budget and standard cost details for next year include: Selling price per unit RM100.00 Variable production cost per unit RM44.50 Fixed production costs...
-
The mechanism shown is used to lower disabled persons into a whirlpool tub for therapeutic treatment. In the unloaded configuration, the weight of the boom and hanging chair induces a compressive...
-
Solve the following problem. The Consumer Price Index for 2015 was 126.6 and for 2017 it was 130.4. (a) Determine the purchasing power of the dollar in 2015 and 2017 relative to the base year 2002....
-
Solve of the following problem. Your hydro bill for March is $174.40. If you pay after the due date, a late payment penalty of $8.72 is added. What is the percent penalty?
-
In Exercises 1324, graph each parabola and give its vertex, axis, x-intercepts, and y-intercept. y = x 2 + 5x + 6
-
Browse either Android apps at Google Play or Apple apps at the iTunes App Store. Search under medical apps and attempt to organize them into categories in a table. Are there categories that are...
-
How do you reconcile the tension between optimizing temporal efficiency and fostering sustainable long-term productivity and well-being ?
-
Three point loads are arranged as shown in Figure 2 (a) Find the electric field E that the charges q = 2.50 nC and -3.00 nC originally created together. (b) Find the electric force on the charge of...
-
How do you navigate the delicate balance between the perceived urgency of immediate tasks and the long-term strategic allocation of temporal resources ? Explain
-
Bond value and time-Changing required returns Personal Finance Problem Lynn Parsons is considering investing in either of two outstanding bonds. The bonds both have $1,000 par values and 14% coupon...
-
Torres Co. forecasts merchandise purchases of $15,800 in January, $18,600 in February, and $20,200 in March; 40% of purchases are paid in the month of purchase and 60% are paid in the following...
-
Swifty company is a publicly held corporation whose $1 par value stock is actively traded at $30 per share. The company issued 3400 shares of stock to acquire land recently advertised at $93000. When...
-
Twenty semi-annual deposits are made earning interest of 5% compounded semiannually. The size of the first deposit is $1200 and the deposits increase at 1.5% thereafter. (a) Determine the total...
-
Withdrawals increasing at a constant rate of 4% are made quarterly for six years from an account earning 6% compounded quarterly. (a) What must be the balance in the account to permit the withdrawals...
-
Lucy won a large sum in the lottery. She invested part of her winnings into a fund earning 6% compounded monthly. She has arranged a systematic withdrawal plan that provides for 120 monthly payments...
-
On March 1 the price of oil is $60 and the July futures price is $59. On June 1 the price of oil is $62 and the July futures price is $63.50. A company entered into a futures contracts on March 1 to...
-
How do Software-Defined Networking (SDN) and Network Functions Virtualization (NFV) paradigms transform traditional network architecture, and what challenges might arise when implementing these...
-
The pension fund you manage must make a payment of $250,000 in ten years. The ten-year interest rate is currently 8% per annum. You want to fund this liability using five-year zero-coupon bonds and...
Study smarter with the SolutionInn App