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Question #3 please! 2UI ax Kates. Single Individual- Use for Tax Payable 10% of TI Taxable Income 08,925 S 8,925 - 36,250 S 36,250 -
Question #3 please!
2UI ax Kates. Single Individual- Use for Tax Payable 10% of TI Taxable Income 08,925 S 8,925 - 36,250 S 36,250 - 87,850 S 87,850 - 183,250 $183,250 - 398,350 $ 398,350- 400,000 Over $400,000 892.50 + 15.0% $ 4,991.25 25.0% $17.89 1.25 + 28.0% $44,603.25+ 33.0% $115,586.25+ 35.0% $116,163.75+ 39.6% of(TI- 8925) ofIT1-36,250) of (TI- 87.850) of.(T1-183.250) of(T1-398350) of. (TI-400,000) 1. If the taxable income totals $190,000.00, what is the tax bill? (5 points) 44603.25+ (0.33 *[190,000-183250]) = 2. With a taxable income of $190,000, how much less taxes would be paid with another $5,000 of tax deductible expenses? (4 points) 3. With a taxable income of $190,000, how much less taxes would be paid by a $4,000 tax credit? (2 points)Step by Step Solution
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