Melodies taxable income is $39,000 and she pays income tax of $4,486. If Melodies taxable income increases
Question:
Melodie’s taxable income is $39,000 and she pays income tax of $4,486. If Melodie’s taxable income increases to $43,000, she would pay income taxes of $5,256. What is Melodie’s marginal tax rate?
a. 17.00%
b. 22.00%
c. 19.25%
d. 12.00%
e. Some other amount
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (6 reviews)
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Income Tax Fundamentals 2021
ISBN: 9780357141366
39th Edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill
Question Posted:
Students also viewed these Business questions
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...
-
In January 2014, Vanowski Corporation was organized and authorized to issue 2,000,000 shares of no-par common stock and 50,000 shares of 5 percent, $50 par value, noncumulative preferred stock. The...
-
Brewster manufactured plastic bottles. Dial made personal care products at many plants around the country, including one in Salem, Virginia. The companies agreed that Dial would purchase from...
-
Understand why the traditional, unstructured interview doesnt work
-
Comparing IQ scores. The Wechsler Adult Intelligence Scale (WAIS) is an IQ test. Scores on the WAIS for the 20 to 34 age group are approximately Normally distributed with mean 110 and standard...
-
( GAAP and Economic Consequences) The following letter was sent to the SEC and the FASB by leaders of the business community. Dear Sirs: The FASB has been struggling with accounting for derivatives...
-
Plz help me ASAP President Andrew Johnson, who ascended to the presidency after the murder of Abraham Lincoln, helped to re-establish White Supremacy in the American South by liberally granting...
-
The post-closing trial balance for Heron Consulting Services, inc, at December 31 of the prior year is presented here. The company respond the following transactions during the current year: January...
-
The completed worksheet for Montoya Corporation as of December 31, 20X1, after the company had completed the first month of operations, appears below. INSTRUCTIONS 1. Prepare an income statement. 2....
-
Indicate the date that the statute of limitations would run out on each of the following 2020 individual tax returns: a. A fraudulent tax return that was filed April 15, 2021 b. A tax return that was...
-
Examine recursive methods and unravel their processing steps.
-
Directions: Put your feet in the shoes of the business owner and suggest specific ways on how a business can gain profit and how it can be avoid loss Ways to Gain Profit 1. 2. 3. 4. 5. 1. 2. 3. 4. 5....
-
Define business intelligence Briefly discuss how your organisation can use business intelligence to improve decision-making Please see below rubric as guidance. Kindly list references in APA 7th...
-
Mr Santos apply for college educational plan for his 3 children .The 3 children ages are 6 yrs old , 3 yrs old and 1 yr old. The fund will be set-up the deposit of a fixed sum on the child's current...
-
Recovery Centers of America needs to acquire new vehicles that will cost $2.5 million across its six state service area. It plans to use the vehicles for three years, at which time new vehicles will...
-
The following program is supposed to allow the user to enter a list of numbers, then print them out formatted with 2 decimal positions. However, there are 3 errors. Indicate the line number of each...
-
What are some of the factors that managers need to consider when assessing the comparative advantage of various locations around the world?
-
(a) Water flows through the nozzle of a garden hose. Find an expression for m in terms of line pressure P 1 , ambient pressure P 2 , inside hose diameter D 1 , and nozzle outlet diameter D 2 . Assume...
-
In November 2019, Simon pays $1,000 to take a course to improve his job skills to qualify for a new position at work. Simons employer reimbursed him for the cost of the course. For 2019, Simons...
-
John, a single father, has AGI of $81,000 in 2019. During the year, he pays $4,000 in qualified tuition for his dependent son, who just started attending Small University. What is Johns American...
-
Joan, a single mother, has AGI of $61,500 in 2019. In September 2019, she pays $5,000 in qualified tuition for her dependent son who just started at Big University. What is Joans American Opportunity...
-
7 . 4 3 Buy - side vs . sell - side analysts' earnings forecasts. Refer to the Financial Analysts Journal ( July / August 2 0 0 8 ) study of earnings forecasts of buy - side and sell - side analysts,...
-
Bond P is a premium bond with a coupon of 8.6 percent , a YTM of 7.35 percent, and 15 years to maturity. Bond D is a discount bond with a coupon of 8.6 percent, a YTM of 10.35 percent, and also 15...
-
QUESTION 2 (25 MARKS) The draft financial statements of Sirius Bhd, Vega Bhd, Rigel Bhd and Capella for the year ended 31 December 2018 are as follows: Statement of Profit or Loss for the year ended...
Study smarter with the SolutionInn App