You earn $50,000 per year. Your entire income is taxed at the 10 percent federal tax bracket. Which value reflects what you will pay in federal income taxes?.

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10-11-2022
Mathematics

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You earn $50,000 per year. Your entire income is taxed at the 10 percent federal tax bracket. Which value reflects what you will pay in federal income taxes?.

Answer :

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syadzayasmine syadzayasmine · Answer 1 · 2022-11-16T02:24:59-05:00

The correct choice is C. If she earns $50,000 a year, he will pay $5,000 in federal income tax.

federal taxable income is That portion of gross income known as “taxable income” is used to determine your tax liability for a particular tax year. It can be loosely defined as adjusted gross income less allowable standard or personal deductions.

we can calculate federal income tax as below:

Your adjusted gross income determines your total federal income tax (AGI). The 1040 form and accompanying schedule must record all income from multiple categories, including wages, interest and dividends, and business income.

So if your income is $50,000, your federal income tax is $5,000. The correct answer is C. If she earns $50,000 a year, he will pay $5,000 in federal income tax.

For more information on federally taxable income, please visit: brainly.com/question/26479727

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