Question
Mr. Jones is a single person who makes $45,000 in 2019. This year she paid $2,000 in student loan interest and $3,600 to her 401(k)
Mr. Jones is a single person who makes $45,000 in 2019. This year she paid $2,000 in student loan interest and $3,600 to her 401(k) plan at work. Calculate the following
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Total federal tax due.
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Average federal tax rate on taxable income.
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Calculate the FICA tax due.
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Assuming no state and city tax rate, what is his effective marginal tax rate?
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Fundamentals of Database Systems
Authors: Ramez Elmasri, Shamkant Navathe
6th edition
136086209, 978-0136086208
