In 2018, Jack is single and has two children, ages 10 and 12. Jack works full-time and
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In 2018, Jack is single and has two children, ages 10 and 12. Jack works full-time and earns an annual salary of $195,000 as a consultant.. Jack files as a head of household and does not itemize his deductions. In the fall of this year, he was recently offered a position with another firm that would pay him an additional $35,000.
a. Calculate the marginal tax rate on the additional income, excluding employment taxes, to help Jack evaluate the offer.
b. Calculate the marginal tax rate on the additional income, including employment taxes, to help Jack evaluate the offer.
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Related Book For
Essentials Of Federal Taxation 2019
ISBN: 9781260190045
10th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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