HELP PLEASE !
Taxable Income: Income Tax:
$0–$8,375 10% of the amount
$8,375–$34,000 $837.50 plus 15% of the amount over $8,375
$34,000–$82,400 $4,681.25 plus 25% of the amount over $34,000
$82,400–$171,850 $16,781.25 plus 28% of the amount over $82,400
$171,850–$373,650 $41,827.25 plus 33% of the amount over $171,850
$373,650+ $108,421.25 plus 35% of the amount over $373,650

Cheryl has a taxable income of $56,742. What is her tax liability?
**MY WORK***
34,000+[25%*(56,742-4,681.25)] DID I PLUG IT IN RIGHT ?

Question

HELP PLEASE !
Taxable Income:	Income Tax:
$0–$8,375	10% of the amount
$8,375–$34,000	$837.50 plus 15% of the amount over $8,375
$34,000–$82,400	$4,681.25 plus 25% of the amount over $34,000
$82,400–$171,850	$16,781.25 plus 28% of the amount over $82,400
$171,850–$373,650	$41,827.25 plus 33% of the amount over $171,850
$373,650+	$108,421.25 plus 35% of the amount over $373,650


Cheryl has a taxable income of $56,742. What is her tax liability?
**MY WORK***
34,000+[25%*(56,742-4,681.25)] DID I PLUG IT IN RIGHT ?

anonymous · Answer

@ganeshie8 @amistre64

amistre64 · Answer

Taxable Income:	Income Tax:

$34,000–$82,400	$4,681.25 + .25(x-$34,000)

amistre64 · Answer

$4,681.25 flat rate

25% of the amount over $34,000, variable rate of the difference