in a recent year, a single person could expect to pay $4550 in income taxes on an adjusted gross income of $35,000. how much more tax should the person expect to pay if her adjusted gross income increased by $4000, knowing that this would not move her into the higher tax bracket?
she should expect to pay $___ more in taxes
taxexs = 4,550 / 35,000 = 0.13 = 13 %
35,000 + 4,000 = 39,000
39,000 * 0.13 = 5,070
5,070 - 4,550 = 520 $
OR
4,550 / 35,000 = x / ( 35,000 + 4000 )
4,550 / 35,000 = x / 39,000
4,550 * 39,000 = x * 35,000
x = 4,550 * 39,000 / 35,000
x = 177,450,000 / 35,000
x = 5,070 $
5,070 - 4,550 = 520 $
a single person could expect to pay $
4080
4080 in income taxes on an adjusted gross income of
$ 34 comma 000.
$34,000. How much more tax should the person expect to pay if her adjusted gross income increased by $
2000
2000, knowing that this would not move her into the higher tax bracket?
To calculate the amount of additional tax the person should expect to pay when their income increases, we need to determine the tax rate applicable to their income range and multiply it by the increase in income.
First, let's find out the tax rate applicable to an adjusted gross income of $35,000. To do this, we can refer to the tax brackets and rates for that particular year. Tax brackets indicate the income ranges and the corresponding tax rates.
Let's assume that for an adjusted gross income of $35,000, the tax rate is 20%. This is just an example for calculation purposes, and actual tax rates may vary.
To find out the initial tax amount the person paid on $35,000 income, we multiply the income by the tax rate:
Initial Tax Amount = $35,000 * Tax Rate
Next, let's calculate the amount of additional tax the person would pay if their income increased by $4,000. We multiply the increase in income by the tax rate:
Additional Tax Amount = $4,000 * Tax Rate
Finally, to find the total increase in tax, we subtract the initial tax amount from the additional tax amount:
Total Increase in Tax = Additional Tax Amount - Initial Tax Amount
Therefore, to get the exact amount of additional tax the person would pay, we need the specific tax rate for an adjusted gross income of $35,000 and the corresponding tax rate for the increased income.
Hope this explanation helps you understand how to calculate the additional tax amount.