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Dahasolnce [82]
2 years ago
9

Jose has been offered a new job. The new job will pay more than his current job. Jose is hesitant to take the new job because it

will cause his income to exceed the maximum amount in his current tax bracket. He is concerned that the increase in taxes will exceed his increased income from the new job.
a. This is not possible. Only the portion of income that exceeds Jose's current bracket will be taxed at the higher rate, not his total taxable income.
b. This is possible. Jose's entire taxable income will be taxed at the higher rate which could cause his increased taxes to exceed his increased salary.
Business
1 answer:
Serhud [2]2 years ago
4 0

Answer:

The best answer is "A"

This is not possible. Only the portion of income that exceeds Jose's current bracket will be taxed at the higher rate, not his total taxable income

Explanation:

Tax brackets are the different levels at which tax rates charged in a progressive tax system. They are standard values used for taxable income. For income that is over a particular set point, it iwill be taxed at a higher rate.

The United State has seven federal income tax brackets, with rates of 10%, 12%, 22%, 24%, 32%, 35% and 37%.

The moment Jose accepts the new job, only the portion of his income will exceed his present tax bracket will be taxed at the higher rate.

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Is the loss in efficiency due to market power large or​ small? explain. the loss in efficiency due to market power is?
saul85 [17]

Answer:

Small

Explanation:

Competition limits the market power, even when the market is not perfectly comparative.

Market power refers to a company's relative ability to manipulate the price of an item in the marketplace by manipulating the level of supply demand or both.

A company with substantial market power has the ability to manipulate the market price and thereby control its profit margin, and possibly the ability to increase obstacle to potential new entrants into the market.

5 0
2 years ago
Your parents will retire in 19 years. They currently have $300,000, and they think they will need $1 million at retirement. What
Svetlanka [38]

Answer:

rate = 6.54%

Explanation:

we need to find the rate at which a capital of 300,000 becomes 1,000,000 in a period of time of 19 years.

<u>So we build the following equation:</u>

300,000 (1+r)^{19} =1,000,000

(1+r)^{19} =1,000,000 \div 300,000

r=\sqrt[19]{1,000,000 \div 300,000}-1

rate = 0.065417765 = 6.54% after rounding

This will be the rate my parent will require to generate 1,000,000 in 19 years with their current savings of 300,000.

3 0
2 years ago
Which of the following should you include in e-mails?
saul85 [17]
I would say letter “E” but the government already knows all of our personal information, so whats the point... probably being watched threw your computer/phone camera rn
7 0
3 years ago
Prime cost is Group of answer choices direct labor cost and indirect labor cost. direct materials cost and direct labor cost. in
Ne4ueva [31]

Answer:

Direct material cost and Direct labor cost.

Explanation:

Manufacturing costs are divided into 2 groups;

  1. Prime Cost.
  2. Conversion Cost.
  • Prime cost: It includes the costs which are directly related to the manufacturing of the product, i-e Direct material cost and direct labor cost. Direct material cost includes the costs related to the raw material of the product being manufactured. On the other hand, Direct labor cost includes the costs which are related to the labor working on the product, for example, the salary of the labor.
6 0
3 years ago
A company sells a plant asset that originally cost $450000 for $200000 on December 31, 2022. The accumulated depreciation accoun
STALIN [3.7K]

Answer:

$90,000 loss on disposal

Explanation:

If the current year's depreciation of $45,000 is recorded, the loss on disposal will be $45,000 multiplied by 2 which is $90,000

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3 years ago
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