Please help with this problem which deals with Taxes: [Complete the table below.] "Tim Worker estimates his taxable income will be $19,000. 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 __ = $ __ (Nothing in the lesson has helped me solve this, so... I don't think they will help you guys... I appreciate any help I
I believe the answers currently are: 1. Finds the tax rate for his income level = 15% (Based off of the picture I shared.) 2. Enters the base amount = 19,000 (Obviously.) 3. Enters the amount of tax owed = 2,850. (Considering I multiplied 19,000 by 0.15. 4. Divides by __? = __?
I nearly forgot the picture:
Could someone check my work? I think 4. is: Divided by 0.15 = 19,000.00.
Nevermind, the answers are: 1. Finds the tax rate for his income level. = 15% (I was right.) 2. Enters the base amount. = $ 0.0 (I was viewing these problems incorrectly.) 3. Enters the amount of tax owed. = $ 2,850.00 (I was right.) 4. Divides by 24 (Considering the 24 times a year situation.) = $ 118.75 (When dividing 2,850.00 by 24.)
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