Answered

Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

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 our answers were helpful. Return anytime for more information and answers to any other questions you may have. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.