Question

Tim Worker estimates his taxable income will be $7,000. He is paid twice a month or 24 times a year. Because Tim has only one source of income, he uses the Tax Tables to estimate how much will be deducted from his pay for withholding.

1. Finds the tax rate for his income level. =__ %

2. Enters the base amount. = $______

3. Enters the amount of tax owed. = $______

4. Divides by ______= $________

Answer 1

$87.75