To calculate the federal income tax owed on a $30,000 salary, considering the given tax brackets and rates, follow these steps:
1. Determine the taxable income:
[tex]\[
\text{Taxable Income} = \text{Income} - \text{Standard Deduction} = \[tex]$30,000 - \$[/tex]12,200 = \$17,800
\][/tex]
2. Calculate the tax for the 10% bracket:
[tex]\[
\[tex]$9,700 \cdot 10\% = \$[/tex]970
\][/tex]
3. Calculate the remaining income that falls under the 12% bracket:
[tex]\[
\text{Remaining Income} = \text{Taxable Income} - \[tex]$9,700 = \$[/tex]17,800 - \[tex]$9,700 = \$[/tex]8,100
\][/tex]
4. Calculate the tax for the 12% bracket:
[tex]\[
\[tex]$8,100 \cdot 12\% = \$[/tex]972
\][/tex]
Putting it all together:
- The amount of taxable income in the 12% tax bracket is $8,100.
