Assume that dividends are taxed at your marginal tax rate of 38% while capital gains are taxed at 15%. How much more will you net if you earn $1200 in capital gains than if the $1200 were dividend income?
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- Suppose you earn $60,000 per year and pay taxes based on marginal tax rates. The first tax bracket, which taxes at 5 percent, ranges from $0 to $30,000. The second tax bracket, which taxes at 25 percent, ranges from $30,001 to $120,000. How much will you pay in total taxes? Instructions: Enter your answer as a whole number. %24Table 1.4 Use the following tax rates and income brackets to answer the following question(s). Tax Rate Individual Returns 10% $0 to $8,350 15% $8,351 to $33,950 $33,951 to $82,250 $82,251 to $171,550 $171,551 to $372,950 Over $372,951 25% 28% 33% 35% Joint Returns $0 to $16,700 $16,701 to $67,900 $67,901 to $137,050 $137,051 to $208,850 $208,851 to $372,950 $16,750 $18,836 $22,425 $25,116 Over $372,951 Josh earned $89,700 in taxable income and files an individual tax return. What is the amount of Josh's taxes for the year?Given the following tax structure: Total tax Salary $ 10,000 $ 20,000 Тахрayer Mae $ 600 Pedro ??? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? (Round your final answer to nearest whole dollar amount.) Minimum tax b. This would result in what type of tax rate structure? Tax rate structure Progressive
- QUESTION 14 If you are in the highest tax bracket, your tax rate on long-term capital gains is O a. 20%. Ob. 10%. Oc. 15%. O d.0%. O e. 37%.The tax rates are as shown below: Taxable Income Tax Rate 50,000 15% $0 50,001 75,000 25% 75,001 100,000 34% 100,001 335,000 39% Your firm currently has taxable income of $80,900. How much additional tax will you owe if you increase your taxable income by $22,100? Multiple Choice O O O $8,619 $7,284 $7,664 $7,274 $7,514Tax Rate For Single Filers 10% $0 to $10,275 12% $10,275 to $41,775 22% $41,775 to $89,075 24% $89,075 to $170,050 32% $170,050 to $215,950 35% $215,950 to $539,900 Assuming you have a personal income of $99,270: what is your total tax liability? What is your average tax rate?
- If Hulk has taxable income = $94,000, how much will it pay in taxes? Select one: a. $16,750 b. $13,500 c. $20,210 d. $11,750 e. $10,050 ???Given the following tax structure, Taxpayer Salary Total tax $21,500 $1,032 $46,000 ??? Mae Pedro a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? (Round your final answer to nearest whole dollar amount.) Minimum tax b. This would result in what type of tax rate structure? Tax rate structureA tax credit of $100 for a person in a 24 percent tax bracket would reduce a person's taxes owed by: Group of answer choices $10. $28. $76. $100. $24.
- Total Income \table[[Lower Bound, Upper Bound, Rate,\ table[[Maximum Money in], [Bracket]], \table[[Maximum Tax in], [Bracket]]], [$0, $12,200,0%, $12, 200, $0 3. Write a function to model the total tax paid, T(x), with a total income of x dollars. Total Income Lower Bound $12,201 $57,201 $212,201 Upper Bound Rate Maximum Money in Maximum Tax in Bracket Bracket $0 $12,200 $57,200 12% 0% $12,200 $45,000 $5,400 $0 $212,200 25% $155,000 $38,750 $512,200 35% $300,000 $105,000 39.6% No Limit No Limit $512,201 No Limit 2. How many slopes would be on this graph?Suppose the tax rate on the first $10,000 income is 0; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $30,000; and 40 percent on any income over $80,000. Family A has income of $40,000 and Family B has income of $100,000. What is the marginal and average tax rate for each family? Question 10 options:Family A: marginal20 percent; average10 percent; Family B: marginal40 percent; average23 percent.Family A: marginal20 percent; average20 percent; Family B: marginal40 percent; average40 percent.Family A: marginal20 percent; average15 percent; Family B: marginal40 percent; average20 percent.Family A: marginal10 percent; average10 percent; Family B: marginal30 percent; average30 percent.SaveReturn to question Given the following tax structure: Salary $ 40,500 Taxpayer Total Tax $ 2,349 Pedro 000 ES $ a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? X Answer is complete but not entirely correct. $3,074 b. This would result in what type of tax rate structure? Answer is complete and correct. Tax rate structure Regressive 5:03 AM x> ツ 10/26/2021 61°F to search N4