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2 years ago

Chuck, a single taxpayer, earns $79,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds.

Business

1 answer:

allochka39001 [22]2 years ago

5 0

Answer:

a) Chuck's total taxable income = $119,480

since Chuck is a single filer, his marginal tax rate for 2020 is 24%, and his tax liability for ordinary income = $14,605.50 + [24% x ($119,480 - $85,525)] = $14,605.50 + (24% x $33,955) = $22,754.70

the interest earned on municipal bonds is not taxed.

b) Chuck's total taxable income = $38,520

since Chuck is a single filer, his marginal tax rate for 2020 is 12%, and his tax liability for ordinary income = $987.50 + [12% x ($38,520 - $9,875)] = $987.50 + (12% x $28,645) = $4,424.90

the interest earned on municipal bonds is not taxed.

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Answer:

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Explanation:

given data

operating income = $1,000,000

total capital = $8,000,000

to find out

best represents the return

solution

we find return by given formula that is

return = $\frac{operating income}{total capital}$ .............1

put here value

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3 years ago

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The same should be considered and relevant

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2 years ago

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2 years ago

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Answer:

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Explanation:

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Since the property earns $4,650 per month,

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3 years ago