I’m having so much trouble with tax calculation questions. Yvonne Jerc has an adjusted gross income of $75,000, a taxable income of $65,450 and…

/in /by

I’m having so much trouble with tax calculation questions.

Yvonne Jerc has an adjusted gross income of $75,000, a taxable income of $65,450 and itemized deductions and exemptions totaling $9,550. What is Ms. Jerc’s average effective tax rate?

Contents hide
1 Save your time - order a paper!
2 “Are you looking for this answer? We can Help click Order Now”

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now

15.0%

18.3%

20.7%

28.0%

It is based off of:

If taxable income isThe tax is

Not over $36,90015% of taxable income

Over $36,900 and less than $89,150$5,535 plus 28% of the excess over $36,900

Over $89,150 and less than $140,000$20,165 plus 31% of the excess over $89,150

I calculated 28% of 28,550 which is $7,994. I then added $7,994 + $5,535 = $13,529

13,529/75000 = 18.03?

Are deductions suppose to be included in the calculation? I’m just not grasping what the actual formula is and how to calculate it.

The post I’m having so much trouble with tax calculation questions. Yvonne Jerc has an adjusted gross income of $75,000, a taxable income of $65,450 and… appeared first on Brainy Term Papers.

I’m having so much trouble with tax calculation questions. Yvonne Jerc has an adjusted gross income of $75,000, a taxable income of $65,450 and… was first posted on November 15, 2020 at 12:27 pm.
©2019 "Brainy Term Papers". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at support@nursingessayswriters.com

 

“Are you looking for this answer? We can Help click Order Now”