Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How much income tax would one pay on a salary of $95,000 (not including deductions, etc)? (A relative approximation is okay). Reference: Imagine the United
How much income tax would one pay on a salary of $95,000 (not including deductions, etc)? (A relative approximation is okay).
Reference:
Imagine the United States has the following tax brackets for a single filer:
Income | Rate |
$5,000 - $12,000 | 6% |
$12,001 - $27,000 | 11% |
$27,001 - $62,000 | 20% |
$62,001 - $89,000 | 27% |
$89,001 + | 41.5% |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started