What would be your federal income tax if your taxable income was $133,000.00? $ What is...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
What would be your federal income tax if your taxable income was $133,000.00? $ What is the average tax rate for $133,000.00 in taxable income? % Part 2 (2 points) O See Hint How much tax would you owe if your income increased by $25,000 to $158,000.00? $ What would be your average tax rate with $158,000.00 of taxable income? Using the 2019 marginal tax rates provided in the table below, find the marginal and average tax rates for the incomes shown. Give all answers to two decimals. Taxable Income Tax rate $0-$9,700 10% $9,701-$39,475 12 $39,476-$84,200 22 $84,201-160,725 24 $160,726-$204,100 32 $204,101-$510,300 35 Over $510,300 37 What would be your federal income tax if your taxable income was $133,000.00? $ What is the average tax rate for $133,000.00 in taxable income? % Part 2 (2 points) O See Hint How much tax would you owe if your income increased by $25,000 to $158,000.00? $ What would be your average tax rate with $158,000.00 of taxable income? Using the 2019 marginal tax rates provided in the table below, find the marginal and average tax rates for the incomes shown. Give all answers to two decimals. Taxable Income Tax rate $0-$9,700 10% $9,701-$39,475 12 $39,476-$84,200 22 $84,201-160,725 24 $160,726-$204,100 32 $204,101-$510,300 35 Over $510,300 37
Expert Answer:
Answer rating: 100% (QA)
1 Income 133000 Income tax payable 10 9700 0 12 39475 9701 22 84200 39476 24 13... View the full answer
Related Book For
Essentials of Contemporary Management
ISBN: ?978-0077439477
5th edition
Authors: Gareth Jones, Jennifer George
Posted Date:
Students also viewed these accounting questions
-
What is the average defection rate for grocery store shoppers in a local area of a large city if they spend $45 per visit, shop 52 weeks per year, the grocery store has a 8 percent gross margin, and...
-
What is the average defection rate for grocery store shoppers in a local area of a large city if they spend $60 per visit, shop 52 weeks per year, the grocery store has a 12 percent gross margin, and...
-
What is the average tax rate for a person who paid taxes of $4,864.14 on total taxable income of $39,870?
-
This bar chart displays the demographics (age group and gender) of a Business Analysis class Business Analysts Students 23-33 3410 M lem How many male students are in the class? 65 80 130 50
-
To maintain closer ties with associated companies in the oil business, King Oil Company decided to purchase holdings of common shares in several companies. The following is a list of activities...
-
The constant-volume molar-specific heat of nitrogen (N 2 ) at 1000K is 24.386 kJ/kmolK and the specific-heat ratio is 1.3411. Determine the constant-pressure molar-specific heat and the...
-
Explain with a neat sketch the working of a centrifugal pump.
-
Edwards received unsolicited faxes from Direct Access in violation of the Federal Telephone Consumer Protection Act, which makes it illegal to send unsolicited faxes. Edwards, a Nevada resident, sued...
-
Discuss a literature review for the topic " managing health and safety in the military" . Include citation with a short explication.
-
A highway has an optional toll lane that drivers may take to reduce the time they spend driving. Drivers pay a small fee to enter the toll lane ($0.25). Then, once they leave the toll lane, they pay...
-
Jimmys income and expenses for the current year are as follows: Receipts $ Sale of shoes 2,250,000 Jimmy had issued invoices totalling $2,280,000 but at 30 June 2018 he had only received $2,245,000....
-
What information does a government need if it wants to attempt to reduce a widespread negative externality like air pollution? Who, typically, is actually in possession of that information? How do...
-
True or False. The term economic investment includes purchases of stocks, bonds, and real estate.
-
Why are price ceilings during a hyperinflation problematic? What generalizations do you draw from Venezuelas economic collapse? Would a Venezuelan-style economic collapse be less likely in the United...
-
True or False. Because price stickiness matters only in the short run, economists are comfortable using just one macroeconomic model for all situations.
-
In 2019, Cabell Mapp passed away in Belle Haven, Virginia. Pursuant to his will, a testamentary trust was established. The trust instrument requires that $10,000 a year be paid to the University of...
-
Acurve is defined by the parametric equations x= t cos z z dz 8 , y=t sin z z dz 8 , t ? 1. Find the length of the curve from t=8 tothe closest value of t where there is a vertical tangent. Do no A...
-
Refer to Exercise 8.S.I. Construct a scatterplot of the data. Does the appearance of the scatterplot indicate that the pairing was effective? Explain. Exercise 8.S.I. A volunteer working at an animal...
-
What kind of controls would you expect to find most used in (a) a hospital, (b) the Navy, (c) a city police force? Why?
-
1. Either by yourself or in a group, discuss if it is ethical to employ children in factories, and whether U.S. companies should buy and sell products made by these children. What are some arguments...
-
1. Why is it so important that Home Depot improve its operating systems? 2. In what ways can updating its IT help Home depot improve its (a) responsiveness to customers, (b) quality, and (c)...
-
A construction engineer has to inspect 5 construction sites in a 2-day inspection schedule. He may or may not be able to visit these sites in two days. He will not visit any site more than once. (a)...
-
An explosion in an LNG storage tank in the process of being repaired could have occurred as the result of static electricity, malfunctioning electrical equipment, an open flame in contact with the...
-
What conditions for the binomial distribution, if any, fail to hold in the following situations? (a) For each of a company's eight production facilities, record whether or not there was an accident...
Study smarter with the SolutionInn App