Answered

At Westonci.ca, we provide reliable answers to your questions from a community of experts. Start exploring today! Explore our Q&A platform to find reliable answers from a wide range of experts in different fields. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

Review the federal income tax table.
Single
If Taxable income is between:
Then the Tax Due Is:
$0 – $9700
10% of taxable income
$9701 - $39,475
$970+12% of the amount over $9700
$39,476 - $84.200
$4543+22% of the amount over $39,475
$84.201 - $160,725
$14,382.50+24% of the amount over $84, 200
$160,726 – $204.100
$32.748.50+32% of the amount over $160,725
$204,101 - $510,300
$46,628.50+35% of the amount over $204,100
$153.798.50+37% of the amount over $510,300
$510,301+
Mustafa earned $95, 000 in taxable income in a year from his job as a software developer. How much federal
income tax does he owe? Enter your answer as a number rounded to the nearest cent, such as: $42, 536.47

Sagot :

DALAU

Answer:

Step-by-step explanation:

Tax payable:

= $4,543+($41,000-$39,476)×22%

= $4,543+$335.28

= $4,878.28

Tax rate:

= $4,878.28/$41,000

= 11.9%

Hence, Tax rate is 11.9%

We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.