Question: I need help solving.. I will be looking at personal income taxes.In 2017 it was normal to be able to have deductions and a personal

I need help solving..

I will be looking at personal income taxes.In 2017 it was normal to be able to have "deductions" and a "personal exemption" deducted from one's total income before determining theirtaxableincome.We will consider only a "single" filing status.

In 2017, the standard deduction was $6,350 and the personal exemption was $4,050.So, an individual who brought in atotal incomeof $30,000 would have to pay taxes on $19,600 ($30,000-$6,350-$4050).The $19,600 represents theirtaxable income.

-Taxable Incomerefers to income after accounting for the standard deduction and personal exemption.

-Total Incomerefers to income prior to the standard deduction and personal exemption.

Consider a simplified version of the real tax code.Assume that the tax rate on all taxable income is 15% and the standard deduction ($6,350) and personal exemption ($4,050) still apply.

  1. If yourtotal incomebefore exemptions was $35,000, what is yourtaxable income?
  2. How much would you have to pay in taxes on this income?
  3. What percentage of yourtotal incomewould you pay in taxes?
  4. What is the function to model the total tax paid, T(x), with atotal incomeof x dollars.
  5. How many different slopes are on this graph (below)? What do they represent?

Below a graph that shows taxes paid as a function oftotal incomefor the total income between $0 and $60,000:

I need help solving.. I will be looking at personal income taxes.In

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