Mr. Hoosier has gathered all these data about his finances.



Salary $159,000

Taxable interest $5600

Municipal Bond interest $15,000

Total Itemized deductions $9500


The personal exemption is $4700. The standardized deduction for a single filer is 5000.

Answers

Answer 1

Answer:

1. His tax is $37,490.

2. His average effective tax rate is 22%

3. His average tax rate is 24.93%

4. His marginal tax rate is 35%.

5. His tax liability will fall by $170

6. His tax liability will fall by $500.

Step-by-step explanation:

Note: This question is not complete. See the attached pdf file for the complete question.

The explanation of the answer is now given as follows:

1. What is his tax?

Note: See the attached excel for Mr. Hoosier's Tax Computation Based on the Tax Table in the question.

From the attached excel file, the Net tax is $37,490 which is his tax.

Therefore, his tax is $37,490.

2. His average effective tax rate

His average effective tax rate = Tax /  (Taxable income + Tax exempt income) = Tax /  (Taxable income +Municipal Bond interest) = $37,490 / ($150,400 + $20,000)  = 0.2200, or 22%

3. His average tax rate

Average tax rate = Tax / Taxable Income = $37,490 / $150,400 = 24.93%

4. His marginal tax rate

His marginal tax rate is 35% as in the tax computation used based on the tax table.

5. Assume he discovers that he is eligible for a 500 tax deduction. How much does his tax liability fall with that addition?

Taxable income = 150400 - 500 = $149,900

Based on the tax table in the question, we have:

Tax = 8850 + (149900 - 55000) * 30% = $37,320

Reduction in tax liability = $37,490 - $37,320 =$170

Therefore, his tax liability will fall by $170

6. Now he discovers that he is eligible for a $500 tax credit. How much does his tax liability fall due to this credit?

The purpose of the tax credit is to make tax liability reduced dollar by dollar.

Therefore, if he discovers that he is eligible for a $500 tax credit, his tax liability will fall by $500.


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hey i am also on this problem did you ever figure it out

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Answer:

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Answer:

y = 4

Step-by-step explanation:

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Answer:

y= 4

Step-by-step explanation:

15 x 4 = 60

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Step-by-step explanation:

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Answers

Answer:

x=4 b=-4/3

Step-by-step explanation:

for b you simplify both sides of the equation, and then you get -7b - 1 = 5B + 15 then you subtract 5 from both sides which gets you to -12b - 1 = 15 then you divide both sides by negative 12 which would be negative 12 b - -12 = 16-12 which gives you the answer of -4/3.

for x you would subtract 3x from both sides which gets you to 6x - 17 = 7 and then you would add 17 to both sides which would give you 6X = 24 and then you would divide both sides by 6 which would give you x = 4

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Answers

Answer:

$53.00

Step-by-step explanation:

250+15=265

265÷5= 53

250 is the discounted price, 265 is the original price. Take the original oprice divide it by 5 (the number of games Filipe bought).

Answer: 53

Steps:

5x - 15 = 250

5x = 250 + 15

5x = 265

x = 265/5

x = 53

Check:

5x - 15 = 250

5(53) - 15 = 250

265 - 15 = 250

250 = 250 ✅

I would appreciate “the brainliest” if this was helpful, correct, and steps were clear :)



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Answers

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Answers

Answer: 88

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Therefore the angle with the "?" is 88 since the sum of the angles in a triangle are 180(180-36-56)

Hope this helps!

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graph A because the slope and y intercept is correct on that graph

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Answers

Answer:

Solution

a+148=180(Angles on a straight line equals180)

▪a=180-148=32

Now,

a+b=90(A right angle is equal to 90)

So,

▪b=90-a=90-32=58

Then,

b=b(base of iscoceles angles of traingle)

Now,

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Answer.

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Answers

when you add a rational number to an irrational number, the result will have the same infinite non periodical decimal part, so the new number will be irrational as well.

Simplify Expression.
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Answers

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Answer:

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Step-by-step explanation:

grouping of like terms

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Answer:

(-3,2)

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the x component should be less than or equal to 3.

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Go through each option and you'll see that the only option that satisfies both conditions is 3.

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Answer:

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Step-by-step explanation:

Hey There! Allow me to explain how to solve this (I will not say the answer bc I also don't know but here is how you can find it). As you see the shape is a Cyclinder & the formula for it is V=Bh or V=πr2h. You might wanna start with solving the problems (8x - 4) & (11x + 12) Use the order of PEMDAS (Parrenthesis, Exponets, Multiplication, Division, Addition, Subtraction.) to solve is so if solving (8x - 4) And if x = 8 than first begin with mutiliplying 8 x 8 (Because it says 8x and x = 8 which means we are multiplying) than subtract that with 4 (Which will be 64 - 4). Than for (11x + 12) you will wanna do 11 x 8 which is 88 added by 12 which that will be 100. Than use the formula (V=Bh or V=πr2h) And you should have you're answer! I hoped this help and sorry for not finding the answer but atleast I explained to you on how to solve it! <3

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Answers

Answer:

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Step-by-step explanation:

Answer:

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Step-by-step explanation:

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Answer: hey mate i have you answer

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Answer:

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Step-by-step explanation:

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Answers

Answer:

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Step-by-step explanation:

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Answers

Answer:

135°

Step-by-step explanation:

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A and C are supplementary angles:

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<A=135°

Step-by-step explanation:

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Answer:

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Answers

Answer:

A

Step-by-step explanation:

You have to do step by step

Applying the Pythagorean Theorem, the size of the TV that is 16 inches by 12 inches is: B)20 inch

Recall:

Diagonal of a rectangle can be found using the Pythagorean Theorem given as: [tex]d = \sqrt{l^2 + w^2}[/tex]Where, d = diagonal, l and w are the dimensions of the shape.

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l = 16 inches

w = 12 inches

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[tex]d = \sqrt{16^2 + 12^}\\[/tex]

[tex]d = \sqrt{400} \\\\\mathbf{d = 20 inches}[/tex]

Therefore, applying the Pythagorean Theorem, the size of the TV that is 16 inches by 12 inches is: B)20 inch

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https://brainly.com/question/11239816

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Answers

Answer:

They will be parallel.

Step-by-step explanation:

Transformation is the movement of a point from its initial location to a new location. Types of transformation are rotation, translation, reflection and dilation.

Translation is the movement of a point up, down, left or right. Rotation is the turning of a point about a fixed point.

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Answers

Answer:

see explanation

Step-by-step explanation:

Sum the parts of the ratio, 2 + 3 + 5 = 10 parts

Divide the profit by 10 to find the value of one part of the ratio.

$450 000 ÷ 10 = $45 000 ← value of 1 part of the ratio, then

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5 parts = 5 × $45 000 = $225 000 ← Tynos' share

Hwhejdk morning I hope to send a pic please send me a picture please

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Answers

Answer:

24

Step-by-step explanation:

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50 Points Help will give brainliest

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Step-by-step explanation:

The sum of 3 times a number and 6 equals 7.

Answers

Answer:

3n + 6 = 7

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Answer:

3 * n + 6=7

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Step-by-step explanation:

uh khakis

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