Ask your own question, for FREE!
Mathematics 7 Online
OpenStudy (anonymous):

j?

OpenStudy (anonymous):

marry me!! yes no? :DDDDDD

jimthompson5910 (jim_thompson5910):

look in the "single" tax bracket on the left since Vernon is single

jimthompson5910 (jim_thompson5910):

then look in row 3

jimthompson5910 (jim_thompson5910):

$48,290.43 is between $34,000 and $82,400 this is why you look at row 3

jimthompson5910 (jim_thompson5910):

let me know if that helps or not

jimthompson5910 (jim_thompson5910):

row 3 says: "$4,681.25 plus 25% of the amount over $34,000"

jimthompson5910 (jim_thompson5910):

so you have to pay at least $4,681.25

jimthompson5910 (jim_thompson5910):

then you have to pay an additional 25% of the amount left over when you subtract the income from $34,000

jimthompson5910 (jim_thompson5910):

Difference: 48,290.43 - 34,000 = 14,290.43 what is 25% of 14,290.43 ?

jimthompson5910 (jim_thompson5910):

that amount is added to $4,681.25

jimthompson5910 (jim_thompson5910):

$4,681.25 + $3,572.61 = $8,253.86

jimthompson5910 (jim_thompson5910):

so Vernon's total tax liability is $8,253.86

jimthompson5910 (jim_thompson5910):

well federal income tax liability

jimthompson5910 (jim_thompson5910):

np

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!