When an individual who is single has taxable income of $60,000, and has capital gain for $10,000, the tax rate for taxable this gain is A.Cero B. 5% C. 15% D. 20% E.25% F. No answer
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When an individual who is single has taxable income of $60,000, and has
A.Cero
B. 5%
C. 15%
D. 20%
E.25%
F. No answer
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- ESTIMATING TAXABLE INCOME, TAX LIABILITY, AND POTENTIAL REFUND. Hannah Owens is 24 years old and single, lives in an apartment, and has no dependents. Last year she earned 55,000 as a sales assistant for Business Solutions: 3,910 of her wages was withheld for federal income taxes. In addition, she had interest income of 142. She takes the standard deduction. Calculate her taxable income, tax liability, and tax refund or tax owed for 2015.You and spouse are filing a joint return. Your current deductions have reduced your taxable income to $88,990, bringing you into the 25 percent tax bracket. The first dollars you earned will be taxed at the bracket. Question content area bottom Part 1 A. 10 percent B. 15 percent C. 25 percent D. 33 percent taxQUESTION 3 Following is a partial personal taxable income schedule for a single filer: But Not Over- Difference Over- $ 0 9,525 38,700 $ 9,525 38,700 82,500 $ 9,525 29,175 43,800 Marginal Tax Rate 0.10 0.12 0.22 What would be the maximum dollar amount of income taxes in the $38,700-$82,500 bracket paid by a single filer with taxable income of $82,500?
- 1. How much is the tax due on a taxable income of P150,000a. 0b. 1,250c. 50,000d. 30,0002. How much is the tax due on a taxable income of P900,000a. 127,000b. 160,000c. 175,000d. 181,0003. Mrs Angela earns a compensation income of P530,000 during a taxable year. How much is the tax due to Mrs Angela?a. 25,600b. 26,500c. 56,200d. 60,0004. Mr Mario earns a compensation income of P13,870,000 during 2019. How much is the tax due to Mr Mario?a. 4,464,500 b. 4,854,500 Week 5 ACTIVITIES 5 30 Fundamentals of Accountancy, Business and Management 2c. 5,914,000 d. 6,111,0005. The pay slip of Mr. Kier shows the following information:Basic salary 462,000SSS contribution 6,679PhilHealth contribution 5,520Pag-IBIG contribution 1,200How much is the tax due to Mr. B?a. 42,150b. 43,442c. 44,464d. 44,644If 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 ???TABLE 2.3Personal tax rates for 2021 (Unmarried Individuals) Taxable Income Tax Rate $ 0–9,950 10% 9,950–40,525 12 40,525–86,375 22 86,375–164,925 24 164,925–209,425 32 209,425–523,600 35 523,600+ 37 Duela Dent is single and had $187,200 in taxable income. Using the rates from Table 2.3, calculate her income taxes. What is the average tax rate? What is the marginal tax rate? Note: Do not round intermediate calculations and round your income tax answer to 2 decimal places, e.g., 32.16. Enter the average and marginal tax rate answers as a percent, rounded 2 decimal places, e.g., 32.16.
- A single individual pays $7,813 on a taxable income of $47,810 and $7,838 on a taxable income of $47,910. What is the marginal tax rate? a. 16% b. 50% c. 25% d. 15%Return 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 N4Question2: Income tax The taxable income of Ahmed, Badriya and Sameer is $20,000, $45,000, $100,000 respectively. Use the following tax rates: 5% for income from 0 - $20,000 10% for income from $20,001 - $50,000 15% for income above $50,000 Calculate the tax payable by each person. Explain the type of taxation system applicable in this situation. Is this system of taxation fair? Explain why this system is being criticised?
- 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 structureQuestion 16: What is the maximum amount of dependent care benefits an employee who files as Single on his tax return can receive in a year? Answer: A. O S2,500 В. O 5,000 С. O 57,500 D. O $10,000Question 13: Louisa is an employee of Maroon Corp. Louisa files as Married Filing Jointly on her tax return. Over what amount will Maroon Corp. begin to withhold the additional Medicare tax from her earnings? Answer: A. SO В. O $125.000 C. O $200,000 D. $250,000
