1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Naddika [18.5K]
3 years ago
6

How does less taxes and tolls affect the amount of money in everyone's pocket? How would this help start the Industrial Revoluti

on?
History
1 answer:
lidiya [134]3 years ago
4 0

Answer:

Most income tax bracket rates went down between 2-4 percent due to the Tax Cuts and Jobs Act. The lowest rate – 10 percent — didn’t change. Check out the 2019 tax rates below for single filers and those married filing joint returns.

2019 Tax Rate Taxable Income Level

10%                           Up to $9,700

12%                            $9,701-$39,475

22%                          $39,476-$84,200

24%                     $84,201-$160,725

32%                         $160,726-$204,100

35%                        $204,101-$510,300

37% Over $510,301

Tax Bracket for Married Filing Jointly

2019 Tax Rate Taxable Income Level

10%                   Up to $19,400

12%                   $19,401-$78,950

22%                   $78,951-$168,400

24%                   $168,401-$321,450

32%            $321,451-$408,200

35%                 $408,201-$612,350

37%                Over $612,351

Not even close. A common misconception is that when your income reaches a bracket level, all your income is taxed at that rate. Fortunately, that is not true. Each portion of your taxable income is taxed at the applicable bracket rate. For example, if you were Single and made $10,000 in taxable income in 2019, you would pay a 10 percent rate on the first $9,700. You would only pay the 12 percent rate on $300 (the amount over $9,700).

To better understand how this works, check out the TaxAct Tax Bracket Calculator. Enter your filing status and taxable income. The calculator shows your tax bracket and your tax as a percent of income. For example, if you are married filing a joint return with a taxable income of $100,000, your tax bracket is 22 percent in 2019. The tax at that rate is only 13.88 percent of your taxable income, however. That’s because not all your income is taxed at your highest rate.

Keep in mind – the taxable income referred to in these tables is your income after all your adjustments and deductions.

Why is it useful to know my tax bracket rate if it doesn’t apply to my entire taxable income?

Your top tax bracket rate is the amount you pay on each additional dollar you earn. You can use that information to determine how much you get to keep if you earn another dollar, or how a deduction might help you. (Don’t forget to account for other taxes, such as Social Security, Medicare and state income taxes.)

Explanation:

You might be interested in
Why did Monroe Doctorine recognize existing colonies in the Western Hemisphere
pentagon [3]

The Monroe Doctrine was introduced in 1823 and had a lot of fascinating points. Two of the major points were, Europe could not interfere with countries in the Americas and the United States could not interfere with Europe. This played a huge part in the Western Hemisphere as Presidents would always invoke the Doctrine during foreign affairs. The most recent example, President Reagan used the Monroe Doctrine to fight and stop communism in the Americas.

5 0
3 years ago
MULTIPLE CHOICE QUESTION
kotykmax [81]

Answer:

Divide the numerator by the denominator

Explanation:

For example, let's say that you were trying to find out your test score and it was a 23/25

23 is the numerator, or the top number, 25 is the bottom number, or denominator.

23/25 = 0.92

If you do it the other way around

25/23 = 1.086

That doesn't make sense.

If you were to multiply by 100, it would work, but that doesn't give you the decimal. That gives you the whole number.

23/25 x 100 = 92

5 0
3 years ago
When was Delaware declared the first state?
Dafna11 [192]

Answer:

December 7, 1787

4 0
3 years ago
Read 2 more answers
When international tiger day is celebrated?<br>​
Phantasy [73]

Answer:

Global Tiger Day is celebrated every year on July 29th

Explanation:

6 0
2 years ago
Read 2 more answers
VERY URGENT PLEASE HELP
elena55 [62]
Commissioner Lin's Goal was to end the opium trade in China.
5 0
3 years ago
Other questions:
  • How long did the great depression last?
    11·2 answers
  • How many terrorists were involved in the 9/11 attacks? what group were they part of? who provided the funding for this terrorist
    10·1 answer
  • During reconstruction of the south, the fourteenth amendment was passed by congress. what did the fourteenth amendment do?
    6·1 answer
  • What was an initial goal of the French Revolution
    13·1 answer
  • Beginning in the 1990s, Georgia, Alabama, and Florida, entered into a legal battle involving the environment. Each state was cla
    14·1 answer
  • How might the colony of Georgia have been different if Oglethorpe's plan had succeeded?
    11·1 answer
  • Which of the following animals was not linked to a major disease? a. mice c. horses b. cattle d. ducks ​
    14·2 answers
  • 5. What was the result of food shortages in Europe
    15·2 answers
  • Why do you think some stories are highlighted and others are mostly ignored?
    13·1 answer
  • 3. A major event that occurred in the New England colonies that demonstrated the power of baseless accusations and lies was?
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!