The value of the expression (4220 + 0.25 (x - 30,650) is the 2006 federal income tax for a single taxpayer with taxable income of x dollars, where x is over $30,650 but not over $74,200. Simplify the expression; Find the amount of tax for a single taxpayer with taxable income of $40,000. Who pays more, a married couple with a joint taxable income of $80,000 or two single taxpayers with taxable income of $40,000 each?
Find the amount of tax for a single taxpayer with taxable income of $40,000.
Let x = 40,000 in the expression and simplify.
4420 + 0.25 (40,000 - 30,650)
4420 + 0.25(9350)
4420 + 2337.5 = $6757.5...assuming that you placed your parentheses correctly in the expression above.
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The question tells us that "...x is over $30,650 but not over $74,200.
So, the expresison given cannot be applied to the married couple because their taxable income is over $74.200.
For two single taxpayers with taxable income of $40,000, we just found out that one single taxpayer will be taxed
$6757.5 and so, if you multiply $6757.5 times 2 you will a total tax of
$13,515.
I would say that since $80,000 does not apply to the given formula, two single taxpayers whose taxable income is $40,000 will pay less than a married couple or a single person whose taxable income is greater than $74,200.
I hope this helps.
To simplify the expression (4220 + 0.25 (x - 30,650)), you can apply the distributive property of multiplication over addition.
First, distribute the 0.25 to both terms inside the parentheses:
0.25 (x - 30,650) = 0.25 * x - 0.25 * 30,650
This simplifies to:
0.25x - 7,662.50
The simplified expression is 0.25x - 7,662.50.
To find the amount of tax for a single taxpayer with a taxable income of $40,000, substitute x = $40,000 into the simplified expression:
0.25 * 40,000 - 7,662.50
= 10,000 - 7,662.50
= $2,337.50
Therefore, the tax for a single taxpayer with a taxable income of $40,000 is $2,337.50.
Now let's compare the tax paid by a married couple with a joint taxable income of $80,000 and two single taxpayers with taxable incomes of $40,000 each.
For a married couple with a joint taxable income of $80,000, we can use the same expression:
0.25 * 80,000 - 7,662.50 = $20,000 - 7,662.50 = $12,337.50
So, a married couple with a joint taxable income of $80,000 pays $12,337.50 in federal income tax.
For two single taxpayers each with a taxable income of $40,000, we need to calculate their individual taxes and then add them together.
For each single taxpayer with a taxable income of $40,000:
0.25 * 40,000 - 7,662.50 = $10,000 - 7,662.50 = $2,337.50
Since there are two single taxpayers, we add their individual taxes:
2 * $2,337.50 = $4,675
Therefore, two single taxpayers with taxable incomes of $40,000 each pay a total of $4,675 in federal income tax.
Comparing the two scenarios, we find that the married couple pays more in federal income tax.