You receive a lunch bill for $45.50; tax included. The tax in your city is 9.5%. What is the amount of tax paid? What is the before-tax cost?
Q: Ramon Alvarez, of Nome, Alaska, signed up for his employer's flexible spending account plan…
A: Given: Tax rates that are being paid by Ramon are 15%, 7.65% and 4% respectively. Amount = $ 3,000
Q: A person works and earns $4440 dollars but on a pay stub pays 41% to tax. How much money is left…
A: Taxable income: It is the gross total income on which the taxes are imposed by the government for a…
Q: A first step to tax planning is to know your tax bracket and how cose you are to the nearest tax…
A: This question deals with the ticking all boxes which applies which means to be in 22% tax bracket.…
Q: Payroll Register and Payroll Journal Entry Mary Losch operates a travel agency called Mary’s Luxury…
A: 1. PAYROLL REGISTER - WEEK ENDED MAR 22, 20__ Name Employee No. Allowances Marital status…
Q: Your cousin purchased a refrigerator at Costco for $794.90. The delivery charge was $24.99, and the…
A: Purchased refrigerator = $794.90 Delivery charges = $24.99 Ice maker hookup = $50 State sales tax =…
Q: You decide to invest $27,000 in a municipal bond that earns 6.15% and is federally tax free. Your…
A: Municipal bonds are the bonds which are issued by the municipal corporation of a state. These bonds…
Q: What penalties will Chip owe if his current year tax is $41,000? $35,800? nonalty)
A: Unpaid taxes are subject to their own charges. Even if a customer files his / her returns or…
Q: You are the owner of Caché, a chain of women's clothing boutiques. Your state has a sales tax of 7%,…
A: Revenue before sales tax = Revenue after sales tax/(1+sales tax rate) total sales tax rate = base +…
Q: 1. A tax payer receives an assessment notice from the BIR informing him that his total deficiency…
A: As per our protocol we provide solutions to one question only but you have asked multiple questions…
Q: Solve the following problem using 6.2%, up to $117,000, for social security tax and 1.45%, no wage…
A: Social security tax is determined by calculating the percentage set by the government to its gross…
Q: You own an a townhome with an assessed value of $184,100. The tax rate is $2.20 per $100 of assessed…
A: Property tax is billed on the basis of property tax rate on the assessed value.
Q: Calculate the state income tax owed on a $60,000 per year salary. tax = $[ ?] %3D
A: Tax is the liability calculated on the income earned paid to the government.
Q: Carlos is a resident citizen. He maintains a savings account deposit with the BPI-Baguio City…
A: Solution Given Carlos is a resident citizen Interest income from saving account deposit =6000…
Q: Below is a graph of the Robinson's annual expenses. How much will the Robinsons pay in state/local…
A: Here, Gross Annual Income is $85,420 % of State and Local Taxes is 10%
Q: Calculate the Federal and Provincial Income Tax for an individual who’s single with no kids and has…
A: calculation of final tax payable for this individual are as follows
Q: A person works and earns $3503 dollars but on a pay stub pays 35% to tax. How much money is left…
A: It is the amount earned by an employee after taxes. The gross pay as reduced by the taxes will…
Q: What would be your federal income tax if your taxable income was $108,000.00? $ What is the average…
A: PART 1 INCOME REMAINING TAXABLE INCOME TAX RATE TAX CALCULATION AMOUNT $98,300…
Q: What is the dollar amount of the tax credit
A: A tax credit refers to a dollar for dollar reduction of the income tax owed.
Q: You are the owner of Caché, a chain of women's clothing boutiques. Your state has a sales tax of 7%,…
A: Total sales tax rate = 7% + 1.5% = 8.5% Sales tax amount = [Total sales / (1+sales tax rate)]sales…
Q: You are single and claim no allowances. How much is deducted from your weekly paycheck for federal…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: let's consider a 30-year-old man living in London. His annual income is £35,000 and he pays a total…
A: A 30-year-old man in London Annual Income = £35,000 Tax paid to government= £27,000 (77.142% of his…
Q: Assume a payroll tax of 15% on every dollar earned and a 10% income tax on every dollar earned above…
A: Answer:- Tax burden = 22,000 Explanation:- Computation of tax burden:- Payroll tax = Tax rate x…
Q: Suppose you earn $60,000 per year and pay taxes based on marginal tax rates. The first tax bracket,…
A: Given: First tax bracket: 5% for $0 to $30,000. Second tax bracket: 20% for $30,001 to $120,000.
Q: You own an a townhome with an assessed value of $181,100. The tax rate is $2.20 per $100 of assessed…
A: Tax: A tax is a compulsory charge or a levy imposed upon a taxpayer by a government organization to…
Q: You are the owner of Caché, a chain of women's clothing boutiques. Your state has a sales tax of 5%,…
A: Formula: Sales tax amount = Sales value x sales tax rate Multiplying sales value with sales tax rate…
Q: Calculate the state income tax owed on a $50,000 per year salary. tax = $[ ?] %3D
A: Income tax is tax charged by the government over the income of the person.
Q: What are the social security and Medicare withholdings (in $) for an executive whose annual gross…
A: "Up to $128,400 for Social Security tax" means that the withholding rates will be calculated $128400…
Q: You own an a townhome with an assessed value of $183,900. The tax rate is $2.20 per $100 of assessed…
A: a) Assessed value = $183,900 Tax rate = $2.2 for $100 of assessed value Property tax = 183,900 x…
Q: 9. ALGEBRA Maria Sanchez is a police officer. She earns $62,800.00 per year. She is married and pays…
A: Income tax is the tax amount which is calculated on the taxable income earned by the taxpayer during…
Q: Mike has breakfast at a local restaurant and notices the sub- total for his food and coffee is…
A: The sales tax rate can be calculated as the ratio of sales tax and the bill amount
Q: ou own an a townhome with an assessed value of $182,600. The tax rate is $2.20 per $100 of assessed…
A: Solution: a ) Property tax = assessed value ×tax /per assessed value…
Q: ou own an a townhome with an assessed value of $182,100. The tax rate is $2.20 per $100 of assessed…
A: Tax: A tax is a compulsory charge or a levy imposed upon a taxpayer by a government organization to…
Q: You are the owner of Caché, a chain of women's clothing boutiques. Your state has a sales tax of 7%,…
A: Given, Total revenue = $271,250 Total revenue = Sales + Sales tax. Total sales tax = state sales…
Q: What is the disposable income for a household in San Antonio using the following information? The…
A: Disposable income is that income which is available to the individual for spending on his…
Q: You decide to invest $27,000 in a municipal bond that earns 6.15% and is federally tax free. Your…
A: Assuming Annual Compounding, Future Value = Investment * (1+Interest%)^Time Period Future Value =…
Q: You own an a townhome with an assessed value of $182,200. The tax rate is $2.20 per $100 of assessed…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want…
Q: The child and dependent care tax credit rule is the following: If AGI is below $15,000, 35% of the…
A: Introduction Taxpayers with dependents are allowed credit for expenses for the care of their…
Q: You own an a townhome with an assessed value of $184,800. The tax rate is $2.20 per $100 of assessed…
A: Frist we need to calculate the property tax. it will be Property tax =Assessed Value100*Tax par 100
Q: If Ana chose to be taxed at an 8 percent rate, how much is her overall income tax? (based on the…
A: SOLUTION- COMPUTATION OF TAX DUE - GROSS SALES 2800000 LESS- TAX EXEMPT INCOME (250000)…
Q: How much of the above amounts is Frank entitled to deduct?
A: Tax: Tax is a percentage of income of individual or a company which is collected by the government…
Q: Song earns $100,000 taxable income as an interior designer and is taxed at an average rate of 20…
A: Income tax is the liability of the business which is paid to the government for using its resources.…
Q: eason. You find that you paid $3,296.44 in Federal Taxes. Using your taxable income and the tax…
A: Answer You receive a tax refund of $280.44 because you paid more taxes last year than you should…
Q: You own an a townhome with an assessed value of $184,400. The tax rate is $2.20 per $100 of assessed…
A: Tax: It is a financial charge which is imposed by the federal government on income earned by a…
Q: Your cousin purchased a refrigerator at Costco for $794.90. The delivery charge was $24.99, and the…
A: Sales tax refers to the tax collected by the government at a specified percentage on the sales made…
Q: 3. Jim Koslo earns $156,200 annually as a plant manager. He is married and supports 3 children. The…
A: Jim koslo is married Having 3 dependent. Earnings = $156,2000 State tax rate = 3.55%
Q: Suppose you return to college and earn an MBA, after which you get a middle-management position with…
A: Please see the next step for solution:-
Q: Alys makes $450 per week. How much will be withheld from her weekly check for Social Security…
A: In the given question we require to calculate the amount withheld from her weekly check for Social…
Q: You own an a townhome with an assessed value of $184,600. The tax rate is $2.20 per $100 of assessed…
A: The tax paid to the state government for owing a property is known as property tax. The rate of…
- You receive a lunch bill for $45.50; tax included. The tax in your city is 9.5%. What is the amount of tax paid? What is the before-tax cost?
Step by step
Solved in 2 steps
- You own an a townhome with an assessed value of $182,100. The tax rate is $2.20 per $100 of assessed value. (Round your answers to the nearest cent.) (a) What is the amount of property tax (in $)? $ (b) If the state offers a 4% discount for early payment, how much (in $) would the tax bill amount to if you paid early? $ (c) If the state charges a mandatory 3 1 2 % penalty for late payments, how much (in $) would the tax bill amount to if you paid late? $You own a townhome with and assessed value of 182,300. The tax rate is $2.20 per $100 of assessed value round your answer to the nearest cent? A-what is the amount of property tax in dollars? B-if the state offers a 4% discount for early payment how much and dollars would the tax bill amount to if you paid early?  C-if the state charges a mandatory 3 1/2% penalty for late payments, how much in dollars with the tax bill amount too if you paid late ?You own an a townhome with an assessed value of $182,200. The tax rate is $2.20 per $100 of assessed value. (Round your answers to the nearest cent.) (a) What is the amount of property tax (in $)? $ 4,008.4 (b) If the state offers a 4% discount for early payment, how much (in $) would the tax bill amount to if you paid early? $ 160.34 X 1 (c) If the state charges a mandatory 3% penalty for late payments, how much (in $) would the tax bill amount to if you 2 paid late? $ 140.29 X
- You own an a townhome with an assessed value of $184,400. The tax rate is $2.20 per $100 of assessed value. (Round your answers to the nearest cent.) (a) What is the amount of property tax (in $)? $ 4056.8 (b) If the state offers a 4% discount for early payment, how much (in $) would the tax bill amount to if you paid early? 2$Chase Cutter has a marginal tax rate of 33 percent, a state income tax rate of 3.5 percent, and a city income tax rate of 0.5 percent. The tax for Social Security and Medicare is 7.65 percent. What would be the effective marginal tax rate on your last dollar of earnings?4.An individual made $85,000 for the year. Using the tax given , answer the following questions: A.What is this person's marginal tax rate? B.How much tax does this person owe? C.What is the effective tax rate?
- You are filling out your 1040 form for tax season. You find that you paid $3,296.44 in Federal Taxes. Using your taxable income and the tax table, you find you should have paid $3,016 in Federal Taxes. Do you get a refund or do you owe the government money? Why?You own an a townhome with an assessed value of $184,800. The tax rate is $2.20 per $100 of assessed value. (Round your answers to the nearest cent.) a) If the state offers a 4% discount for early payment, how much (in $) would the tax bill amount to if you paid early? b) If the state charges a mandatory 3 1/2% penalty for late payments, how much (in $) would the tax bill amount to if you paid late?The W-2 form is a form that tells you how much taxes you've paid in the last year based on how much you've earned. how much taxes you owe to the federal government. O how much taxes to withhold from your paycheck. O how often you will be paid.
- You decide to work part-time at a local supermarket. The job pays $10.50 per hour and you work 20 hours per week. Your employer withholds 10% of your gross pay for federal taxes, 7.65% for FICA taxes, and 3% for state taxes. Complete parts (a) through (f) below. a. What is your weekly gross pay? The weekly gross pay is $ (Round to the nearest cent as needed.) b. How much is withheld per week for federal taxes? The federal taxes are (Round to the nearest cent as needed.) c. How much is withheld per week for FICA taxes? The FICA taxes are $ (Round to the nearest cent as needed.) d. How much is withheld per week for state taxes? HYou own an a townhome with an assessed value of $184,600. The tax rate is $2.20 per $100 of assessed value. (Round your answers to the nearest cent.) propery tatx $4061.20 If the state offers a 4% discount for early payment, how much (in $) would the tax bill amount to if you paid early? If the state offers a 4% discount for early payment, how much (in $) would the tax bill amount to if you paid early?3. When a taxpayer's income increases by $2,500 and the taxes owed increase from $13,899 to $14,399, the marginal tax rate is percent. Taxpayer takes the standard deduction, and her tax return includes an Education Credit of $250.