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Author Question: Trisha is married and has young children. The couple is in the 39.6% tax bracket. In order for ... (Read 132 times)

LCritchfi

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Trisha is married and has young children. The couple is in the 39.6% tax bracket. In order for Trisha and her husband to work, they pay $5,000 for daycare which earns them a $1,000 dependent care credit. Trisha has been offered a new job. The new job will pay a $5,000 lower salary, but the new employer will offer $5,000 of paid childcare. Trisha cannot claim the dependent care credit if she receives employer-paid childcare. Which of the following statements is correct? (Ignore payroll taxes.)
◦ Trisha will have $980 additional after-tax income if she accepts the new job.
◦ Trisha will lose $4,000 net value if she accepts the new job.
◦ Trisha will have $1,980 additional after-tax income if she accepts the new job.
◦ Trisha will lose $3,020 of net value if she accepts the new job.


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Marked as best answer by LCritchfi on Sep 13, 2020

smrerig

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LCritchfi

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review


scikid

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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