Mathematics, 04.12.2020 01:00 lovelyheart5337
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Each bulleted statement describes how the amount of income tax is determined for yearly incomes in different ranges.
• Yearly incomes of $8,925 or less are taxed at a flat rate of 10%.
• Yearly incomes from $8,926-$36,250 are taxed at 15%.
• Yearly incomes greater than $36,250 are taxed at 25%.
a. Mr. Coney's yearly taxable income is $36,200. What is the dollar amount taken out for taxes based on Mr. Coney's taxable income?
b. Ms. McDonald's taxable income is $20 each hour before taxes are taken out. Ms. McDonald worked a total of 40 hours each week for 50 weeks. What is the dollar amount taken out for taxes based on Ms. McDonald's taxable income?
Answers: 1
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