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3 years ago

100000 dollars in income how much should i pay in taxes

2 answers:

7 0

According to my knowledge if you earn 100000 dollars yearly, Than you in 28% tax bracket in 2017-18 financial year. You will pay $20,982 as percentage of income 20.98%.since that's the highest rate applied to any of your income; but as a percentage of the whole $100,000, your tax is about 17%.

djverab [1.8K]3 years ago

3 0

Answer is: 16,889 dollars in 2017, if you are single, no children, with no other sources of income.
Personal exemptions: 4050 dollars.
Standard deduction: 6350 dollars.
Retirement account contribution: 5000 dollars.
Taxable income is than: 84600 dollars.
Final tax bill (tax bracket-25%): 16889 dollars.

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3 years ago

Read 2 more answers

Maxim manufactures a hamster food product called Green Health. Maxim currently has 19,000 bags of Green Health on hand. The vari

Helen [10]

Answer:

The correct option is c. $11,000

Explanation:

For computing the revenues from both the products, first we have to calculate the sales value of premium green and green deluxe which is shown below:

Sales value of Premium Green = Production of bags × selling price of premium green

= 19,000 × $8

= $152,000

And, Sales value of Green Deluxe = Production of bags × selling price of green deluxe

= 5,000 × $6

= $30,000

So, the total sales value of both products is equals to

= $152,000 + $30,000

=$182,000

Now,

We have to compute the Green Health revenue which includes additional cost .The calculation is shown below

= Bags production × Additional cost per unit

= 19,000 × $9

= $171,000

So, the incremental revenue would be equals to

= Total sales revenue of both products - Green Health revenue

= $182,000 - $171,000

= $11,000

Hence, the incremental revenue is $11,000

Thus, the correct option is c. $11,000

7 0

4 years ago

You just sold stock for $10,000 which you bought two years ago for $5,000. You are also in the 25% income tax bracket. How much

katrin [286]

Answer:

$1,250

Explanation:

The tax in reference is capital gain tax.

The gain from this transaction is the selling price - the purchase price.

= $10,000 -$5000

=$5000

The gain is $5000

The tax on this gain will be 25% of $5000

=25/100 x $5000

=0.25 x $5000

=$1,250

6 0

4 years ago

Majenta Company uses a standard costing system. The following information pertains to direct labor costs for February: Standard

4vir4ik [10]

Answer:

Option a 7500 hours.

Explanation:

Given that Majenta Company uses a standard costing system. The following information pertains to direct labor costs for February:

Labour rate variance = Actual hours x actual rate - actual hours x std rate

Here we have actual rate = 10 and std rate = 12

So Labour rate variance = Actual hours (10-12) = 15000 F

This gives

actual hours = 15000/2 = 7500 hours

So option a

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3 years ago

Sheridan Company had the following department data on physical units: Work in process, beginning 3080 Completed and transferred

Karo-lina-s [1.5K]

Answer:

Equivalent units for the month = 18,720

Explanation:

Provided that

Opening units of work in process = 3,080 units

Which are 100% complete to materials as the materials are added fully initially.

Completed and transferred during the period = 19,400

Since not provided assumed these are added during the period, and includes opening work in process.

Closing Work in process = 2,400 units.

For the period equivalent units = During the month + Closing - Opening

= 19,400 + 2,400 - 3,080 = 18,720 units

6 0

3 years ago