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zepelin [54]
2 years ago
11

What is the marginal income tax rate of a $5,000 raise for someone who currently makes $95,000 per year?

Business
1 answer:
elena-14-01-66 [18.8K]2 years ago
5 0

24% will be the tax bracket for her. The marginal tax rate is the tax rate you pay on every dollar of additional income. Individuals' federal marginal tax rate in the United States rises as their income rises. As one's income rises, the last dollar earned is taxed at a higher rate than the first.

This method of taxation, known as progressive taxation, aims to tax individuals based on their earnings, with low-income earners paying a lower rate than higher-income earners. Under a marginal tax rate, taxpayers are typically divided into tax brackets or ranges, which determine the rate applied to the tax filer's taxable income.

However, how much of an individual's income is taxed depends on more factors than just their marginal tax bracket. Instead, income taxes are calculated progressively, with a range of income levels subject to a certain rate for each bracket.


To learn more about marginal tax, click here

brainly.com/question/10798743

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A firm uses a standard costing system and allocates variable overhead costs based on direct labor hours. The annual budget proje
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Answer:

Your answer is given below:

Explanation:

Statement showing Computations  

         Paticulars                                                                             Amount

Variable overhead cost per unit =100,000/1,000                   100.00

Standard Variable overhead for 750 Units = 750 * 100             75,000.00

Actual Variable overhead             75,000.00

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2 years ago
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Answer:

The conversion cost per equivalent unit is $3.31

Explanation:

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= Total conversion costs ÷ Total equivalent units

where,

Total conversion cost = completed units + Conversion costs during April

                                    = $6,000 + $35,000

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And, the total equivalents units equal to

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the main sources of revenue for local government is property taxes

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