Question
#3. Your W-2 form reports that your total wages were $111,284 for 2018. Your W-2 form also reports that $19,357 was withheld from your wages
#3. Your W-2 form reports that your total wages were $111,284 for 2018. Your W-2 form also reports that $19,357 was withheld from your wages for federal income tax. You receive a 1099-INT from your bank that indicated interest earned of $12,603. You are married and will be filing as married filing jointly.
How much is your adjusted gross income?
111,284 + 12603 = 123887
How much is your taxable income?
123887-24000 = 99887
What is your total tax for the year?
What is the amount of your payment or refund?
What is your tax as a percent of taxable income?
What tax bracket does this person fall into?
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Cost Accounting Planning And Control
Authors: Milton F Usry
9th Edition
053801881X, 978-0538018814
