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I need help working through these problems! Step by step please! I appreciate it so much.. Here is the information! Question 5 (1 point) In
I need help working through these problems! Step by step please! I appreciate it so much..
Here is the information!
Question 5 (1 point) In 2016, Ocean Vibes Store had before tax earnings of $103,000. How much was their tax savings in 2018 thanks to the Tax Reform given that they had the same amount of income? $3,780 $23,420 $1,790 $4,760 Question 1 (1 point) Saved The Simpson family's total income was $142,000 last year. How much tax did IRS collect from them if they filed jointly? $34,972 $23,119 $19,314 $22,000 Corporate Tax Rate Schedule (2005-2017): Taxable income over Marginal Tax Rate 15% 25% SO $50,000 $75,000 $100,000 $335.000 $10,000,000 750 10,34% 315,000 39% I 10,000,00 34% 35% Corporate tax rate after Tax Reform 2017: Flat rate 21% (effective 1/1/2018) Personal Taxes (since 2018): Tax Rate For Unmarried Individuals, Taxable Income Over $0 For Married Individuals Filing Joint Returns, Taxable Income Over $0 10% 12% 22% 24% $9,525 $38,700 $82,500 $157,500 $200,000 $500,000 $19,050 $77,400 $165,000 $315,000 $400,000 $600,000 32% 35% 37%
I need help working through these problems! Step by step please! I appreciate it so much..
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Here is the information!
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