Question
1. Miley, a single taxpayer, plans on reporting $32,775 of taxable income this year (all of her income is from a part-time job). She is
1. Miley, a single taxpayer, plans on reporting $32,775 of taxable income this year (all of her income is from a part-time job). She is considering applying for a second part-time job that would give her an additional $10,000 of taxable income. By how much will the income from the second job increase her tax liability in 2022**? (Use the 2022 tax rate schedules: https://bit.ly/3E4xBSk) Show me your work for this year
a. $1,000
b. $1,200
c. $1,300
d. $2,400
2. Jamie is single. In 2022**, she reported $100,000 of taxable income, including a long-term capital gain of $5,000. What is her gross tax liability? Show me your work for this year. (Use the 2022 tax rate schedules, long-term capital gains tax brackets at the links: https://bit.ly/3E4xBSk & https://bit.ly/3X3bl46)
a. $15,000
b. $17,836
c. $17,386
d. $16,636
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College Algebra Graphs and Models
Authors: Marvin L. Bittinger, Judith A. Beecher, David J. Ellenbogen, Judith A. Penna
5th edition
321845404, 978-0321791009, 321791002, 978-0321783950, 321783956, 978-0321845405
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