Find trusted answers to your questions with the help of IDNLearn.com's knowledgeable community. Get the information you need from our community of experts who provide accurate and thorough answers to all your questions.
Sagot :
To determine the total tax due for a married couple with a combined income of \[tex]$110,000, we need to use the given tax brackets and corresponding tax rates.
Here is the step-by-step solution:
1. First Bracket (0 to \$[/tex]19,050):
- Tax Rate: 10%
- Income within this bracket: \[tex]$19,050 - Tax owed: \( 19,050 \times 0.10 = 1,905 \) 2. Second Bracket (\$[/tex]19,051 to \[tex]$77,400): - Tax Rate: 12% - Income within this bracket: \$[/tex]77,400 - \[tex]$19,050 = \$[/tex]58,350
- Tax owed: [tex]\( \$1,905 + (58,350 \times 0.12) = 1,905 + 7,002 = 8,907 \)[/tex]
3. Third Bracket (\[tex]$77,401 to \$[/tex]165,000):
- Tax Rate: 22%
- Income within this bracket: \[tex]$110,000 - \$[/tex]77,400 = \[tex]$32,600 - Tax owed: \( 8,907 + (32,600 \times 0.22) = 8,907 + 7,172 = 16,079 \) Adding the tax owed for each bracket: - From the first bracket: \( \$[/tex]1,905 \)
- From the second bracket: [tex]\( \$8,907 - \$1,905 = \$7,002 \)[/tex]
- From the third bracket: [tex]\( \$16,079 - \$8,907 = \$7,172 \)[/tex]
Summing these amounts:
[tex]\[ 1,905 + 7,002 + 7,172 = 16,079 \][/tex]
Thus, the total tax due for a married couple with a combined income of \[tex]$110,000 is \( \$[/tex]26,891.0 \).
So, the correct answer is:
[tex]\[ \$26,891.0 \][/tex]
- Tax Rate: 10%
- Income within this bracket: \[tex]$19,050 - Tax owed: \( 19,050 \times 0.10 = 1,905 \) 2. Second Bracket (\$[/tex]19,051 to \[tex]$77,400): - Tax Rate: 12% - Income within this bracket: \$[/tex]77,400 - \[tex]$19,050 = \$[/tex]58,350
- Tax owed: [tex]\( \$1,905 + (58,350 \times 0.12) = 1,905 + 7,002 = 8,907 \)[/tex]
3. Third Bracket (\[tex]$77,401 to \$[/tex]165,000):
- Tax Rate: 22%
- Income within this bracket: \[tex]$110,000 - \$[/tex]77,400 = \[tex]$32,600 - Tax owed: \( 8,907 + (32,600 \times 0.22) = 8,907 + 7,172 = 16,079 \) Adding the tax owed for each bracket: - From the first bracket: \( \$[/tex]1,905 \)
- From the second bracket: [tex]\( \$8,907 - \$1,905 = \$7,002 \)[/tex]
- From the third bracket: [tex]\( \$16,079 - \$8,907 = \$7,172 \)[/tex]
Summing these amounts:
[tex]\[ 1,905 + 7,002 + 7,172 = 16,079 \][/tex]
Thus, the total tax due for a married couple with a combined income of \[tex]$110,000 is \( \$[/tex]26,891.0 \).
So, the correct answer is:
[tex]\[ \$26,891.0 \][/tex]
Thank you for contributing to our discussion. Don't forget to check back for new answers. Keep asking, answering, and sharing useful information. For clear and precise answers, choose IDNLearn.com. Thanks for stopping by, and come back soon for more valuable insights.