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cricket20 [7]
4 years ago
11

Jamie is single. In 2019, she reported $100,000 of taxable income, including a long-term capital gain of $5,000. What is her gro

ss tax liability, rounded to the nearest whole dollar amount
Business
1 answer:
ryzh [129]4 years ago
5 0

Answer:

$17,724.50

Explanation:

The computation of the gross tax liability is shown below:

The tax schedule for 2019 year is shown below:

Tax slabs                            tax rate                          taxable amount

$0 - $9,700                       10%                                 $970

$9,700 - $39,475              12%                                 $3,573

$39,475 - $84,200            22%                                $9,839.30

$84,200 - $95,000           24%                                 $2,592

Total                                                                            $16,974.50

The capital gain tax rate is 15% (assume)

So, the capital gain is

= $5,000 × 15% = $750

So, the gross liability is

= $16,974.50 + $750

= $17,724.50

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3 years ago
Match the financial institutions with the features.
tensa zangetsu [6.8K]

Answer:

Commercial Bank > Offers checking accounts

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Explanation:

1. Commercial Bank > Offers checking accounts

Commercial bank is a financial organization which accepts deposits, offers varieties of products including checking accounts, and provides loans to the public and enterprises.

2. Financial service company > Offers high-risk loans

When a company looks to develop economic growth through the use of money supply from the savings accounts of people, and offers risky loans, that company is said to be a financial service company.

3. Savings and loan association > Provides home mortgages

When an institution acts like a bank by not being a banking institution, and provides mortgages, it is coined as savings and loan association.

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Member-based financially operated organizations which helps people to provide financial services like non-risky loans and deposits, that is termed as credit union.

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3 years ago
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Explanation:

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