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Solve clearly In your current job, you earn $55,000. You take the standard deduction of $12,200. You have an offer of a new job working

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In your current job, you earn $55,000. You take the standard deduction of $12,200. You have an offer of a new job working for a different employer. Your salary would go up by $5,000. Social Security taxes are 6.2%, and Medicare taxes are 2.9%. How much extra will you owe in payroll taxes if you take the new job? For taxable . . . but not . . . the marginal income over . .. over . . . tax rate is: $0 $9,700 10% $9,700 $39,475 12% $39,475 $84,200 22% $84,200 $160,725 24% $160,725 $204,100 32% $204,100 $510,300 35% $510,300 37% O $2,200 O $1,100 O $455 O $310

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