### Career Choice: Software Developer
Let's assume the annual income for a Software Developer is [tex]$60,000.
To find the monthly income after taxes, we need to follow these steps using the federal income tax brackets for a single taxpayer:
1. Federal Income Tax Calculation:
- The federal income tax brackets for a single taxpayer are defined as follows:
- $[/tex]0-[tex]$9,700: 10% of taxable income
- $[/tex]9,701-[tex]$39,475: $[/tex]970 + 12% of the amount over [tex]$9,700
- $[/tex]39,476-[tex]$84,200: $[/tex]4,543 + 22% of the amount over [tex]$39,475
- $[/tex]84,201-[tex]$160,725: $[/tex]14,382.50 + 24% of the amount over [tex]$84,200
- $[/tex]160,726-[tex]$204,100: $[/tex]32,748.50 + 32% of the amount over [tex]$160,725
- $[/tex]204,101-[tex]$510,300: $[/tex]46,628.50 + 35% of the amount over [tex]$204,100
- $[/tex]510,301 and above: [tex]$153,798.50 + 37% of the amount over $[/tex]510,300
2. Determine Tax for [tex]$60,000 Income:
- Income falls in the bracket $[/tex]39,476-[tex]$84,200.
- First $[/tex]9,700 taxed at 10%: [tex]$9,700 0.10 = $[/tex]970
- Next [tex]$29,775 (i.e., $[/tex]39,475 - [tex]$9,700) taxed at 12%: $[/tex]29,775 0.12 = [tex]$3,573
- Remaining $[/tex]20,525 (i.e., [tex]$60,000 - $[/tex]39,475) taxed at 22%: [tex]$20,525 * 0.22 = $[/tex]4,515.50
- Total Tax Due:
[tex]\[ \text{Total Tax} = 970 + 3,573 + 4,515.50 = 9,058.50 \][/tex]
3. Calculate Annual Income After Tax:
- Annual Income After Tax:
[tex]\[ 60,000 - 9,058.50 = 50,941.50 \][/tex]
4. Calculate Monthly Income After Taxes:
- Monthly Income After Tax:
[tex]\[ \frac{50,941.50}{12} = 4,245.125 \][/tex]
### Conclusion:
For a Software Developer earning [tex]$60,000 annually, the monthly income after federal taxes is approximately $[/tex]4,245.13.
