Question

A person filing her federal income tax return with the Single filing status had a taxable income of $79,950. According to the table below, how much of that income will she have left over after paying her federal income tax?
ANSWER: $63,775.0

Answer 1

Answer:

The income that she will have left over after paying his

federal income tax = $63,775.

Step-by-step explanation:

• The amount of taxable income = $79,950

• So, the taxable income will be in the range from $33,950 to $82,250.

• It means, there will be $4675 fixed tax and additional 25% tax on the amount over $33,950.

As

The amount over $33,950 = $79,950 - $33,950 = $46,000

So

The additional tax = 46000 × 0.25 = $11,500     ∵25% = 0.25

So, the total federal income tax will be: $11500 + $4675 = $16,175

Therefore, the income that she will have left over after paying his federal income tax = $79,950 - $16,175 = $63,775.

Keywords: income, income tax

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