Sunday

November 23, 2014

November 23, 2014

Posted by **Bobbie** on Tuesday, October 14, 2008 at 9:54pm.

- College Algebra -
**Feliz**, Wednesday, October 22, 2008 at 10:45amFind 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.

==================================

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.

**Answer this Question**

**Related Questions**

college - 124. Marriage penalty eliminated. The value of the expression 4220 + 0...

algebra - 124. Marriage penalty eliminated. The value of the expression 4220 + 0...

Income Tax - Accounting. Help Me Please. - Tax Rates, latesha, a single taxpayer...

ACC 233-INCOME TAX - Tax Rates, latesha, a single taxpayer, had the following ...

Income tax / Accounting - Computation of taxable income: The following ...

ACC233- INCOME TAX - Computation of taxable income: The following information ...

accounting - Complete the work sheet. In completing the worksheet, compute State...

finance - Mary Watson is 24 years old and single, lives in an apartment, and ...

accounting - Ayres Services acquired an asset for $80 million in 2011. The asset...

introduction to finance - mary watson is 24 years old and single, lives in an ...