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Author Question: Use the 2010 federal income tax brackets and rates listed below to answer the following ... (Read 110 times)

Pea0909berry

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on: Jun 7, 2019
Use the 2010 federal income tax brackets and rates listed below to answer the following question.

Taxable Income
(income tax brackets)Tax rates
$40 970 or less5% of taxable income less than or equal to $40 970; plus
$40 970 to $81 9422% of taxable income greater than $40 970 and less than or equal to $91
941;
plus
$81 941 to $127 02126% of taxable income greater than $81 941 and less than or equal to $127
021;
plus
Over $127 02129% of taxable income greater than $127 021

a) Dana had a taxable income of $39 500 in 2010. How much federal income tax should she report? (assuming tax rates remain the same)
b) Dana expects her taxable income to increase by 15% in 2011. How much federal tax would she expect to pay in 2011(assuming tax rates remain the same).
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by Pea0909berry on Jun 7, 2019

djofnc

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Reply #1 on: Jun 7, 2019
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Pea0909berry

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Reply #2 on: Jun 7, 2019
Excellent


djofnc

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Reply #3 on: Jun 7, 2019
Great! Please up vote :D


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