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Home Q & A Board Science-Related Homework Help Mathematics
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majarm majarm
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6 years ago
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 less   5% of taxable income less than or equal to $40 970; plus
$40 970 to $81 941   22% of taxable income greater than $40 970 and less than or equal to $91 941;
    plus
$81 941 to $127 021   26% of taxable income greater than $81 941 and less than or equal to $127 021;
   plus
Over $127 021   29% of taxable income greater than $127 021

a) Sean had a taxable income of $42 500 in 2011. How much federal income tax should he report? (assuming tax rates remain the same)
b) Sean expects his taxable income to increase by 150% in 2012. How much federal tax would he expect to pay in 2012(assuming tax rates remain the same).
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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SupremeSupreme
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6 years ago
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majarm Author
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6 years ago
this is exactly what I needed
foxrcng11
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Brilliant ツ
sleinhi
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2 hours ago
This site is awesome
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