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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

#SPJ4

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Which of the following is NOT one of the credit reporting agencies?
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Answer:

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Explanation:

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3 years ago
The ________ assumes responsibility for monitoring how the contractor is doing in terms of cost, schedule, and technical perform
JulijaS [17]
<span>Business/Financial manager </span>assumes responsibility for monitoring how the contractor is doing in terms of cost, schedule, and technical performance
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Effective corporate governance is essential in large corporations because corporate ownership (by shareholders) is separated fro
nalin [4]

Answer:

False

Explanation:

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7 0
2 years ago
Read 2 more answers
Taussig Snow Removal's cost formula for its vehicle operating cost is $1,880 per month plus $394 per snow-day. For the month of
arsen [322]

Answer:

$394 U

Explanation:

Calculation for the activity variance for vehicle operating cost in February would be

First step is to calculate the Flexible budget

Flexible budget= $1,880 + ($394 × 14)

Flexible budget=$7,396

Second step is to calculate the Planning budget

Planning budget= $1,880 + ($394 × 13)

Planning budget=$7,002

Last step is to calculate the activity variance for vehicle operating cost in Februar

Activity variance=Flexible budget $7,396-Planning budget $7,002

Activity variance=$394 U

Therefore The activity variance for vehicle operating cost in February would be closest to $394 U.

3 0
3 years ago
During an interview, Garrett makes sure to keep his palms facing upward. What does this suggest to the interviewer?
kodGreya [7K]
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2 years ago
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