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
Dahasolnce [82]
3 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]3 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.

You might be interested in
To help finance a new plant, Roxxon, Inc. just sold a noncallable 40 year bond. This $1,000 par bond sells for $1,155 and has a
murzikaleks [220]

Answer:

4.96%

Explanation:

In order to determine the component after-tax cost of debt first we need to  compute the before tax cost of debt by applying the RATE formula which is to be shown in the attachment below:

Given that,  

Present value = $1,155

Future value or Face value = $1,000  

PMT = 1,000 × 8.25% ÷ 2 = $41.25

NPER = 40 years × 2 = 80 years

The formula is shown below:  

= Rate(NPER;PMT;-PV;FV;type)  

The present value come in negative  

So, after applying the above formula

1. The pretax cost of debt is 3.54%  × 2 = 7.08%

2. And, the after tax cost of debt would be

= Pretax cost of debt × ( 1 - tax rate)

= 7.08% × ( 1 - 0.30)

= 4.96%

8 0
3 years ago
To select nonadjacent items, hold down the ________________ key while selecting the items.
Bas_tet [7]

To choose non-adjacent items, hold down the _SHIFT_BUTTON____ key and connect to the desired items.

<h3>Which key is pushed from the keyboard to set the nonadjacent files folders?</h3>

To use the keyboard to choose a group of icons that are not adjacent, pick the first file, hold down the Ctrl key, and use the arrow keys to move through the list; press the spacebar for per file you want to select.

Select the row number to set the entire row. Or select on any cell in the row and then click Shift + Space.To select non-adjacent rows or columns, hold Ctrl and choose the row or column numbers.

To learn about SHIFT BUTTON visit the link

brainly.com/question/14624439

#SPJ4

6 0
1 year ago
Insurance is a financial service that allows a:________
Amiraneli [1.4K]

Answer: Consumer share risk with company.

Explanation:

Insurance involves the sharing of risk between a client and his insurer. In insurance the insurer takes a large portion of the risk while the client covers the rest of risk payment.

6 0
3 years ago
Read 2 more answers
Micro Corp. reported a statutory tax rate of 35% and an effective tax rate of approximately 15%. The current year's income state
Alexxx [7]

Answer:

$19,687 million

Explanation:

Income tax expense = Income before income tax expense*Effective tax rate

Income before income tax expense = Income tax expense / Effective tax rate

Income before income tax expense = $2,953 million / 15%

Income before income tax expense = $2,953 million / 0.15

Income before income tax expense = $19,687 million

So, the amount that Micro report as income before income tax expense that year is $19,687 million.

6 0
3 years ago
1. If you were going to buy a fuel-efficient car, which three would you consider? Why? Answer:
Ksenya-84 [330]

Answer:

Ford Fusion, Toyota Corolla and BMW i3

Explanation:

Fuel economy and fuel efficiency is one of the most important thing to consider when buying a car.

In United States, nearly 8 thousand gallons of petroleum are consumed by cars everyday. This cost a lot to the people's purse and most importantly it costs the atmosphere.

When we burn or use more fuel, the atmosphere gets more polluted by the exhaust of the fuel burning, and the world oil supply is depleting faster. This results in the rise of gasoline price. Thus, it is very necessary to plan before buying cars.

I would consider the cars Ford Fusion, Toyota Corolla and the BMW i3 while planning to buy a car because they are the most fuel efficient cars available in the U.S. They are also equipped with latest technology like cruise control which reduces the fuel consumption of the car.

The 2020 Ford fusion is a 6 speed automatic front wheel drive which gives the best driving experience and less energy wastage.

4 0
3 years ago
Other questions:
  • 10. In earned value analysis (EVA), we found: SV = -$7,800 at certain point. If the project has a total budget = $65,000 and tot
    7·1 answer
  • A. Everyone benefits from street lighting, yet the marginal benefit to any one individual usually falls short of the marginal co
    6·1 answer
  • Which describes a type of tax that funds city programs?
    7·1 answer
  • The lumber companies began to replant forests after they cut them down; this process is known as lumber farming. Lumber farming
    13·1 answer
  • When banks borrow money from a federal reserve bank, they are given a certain interest rate to pay back the loan. if the federal
    13·1 answer
  • The ____ cache is used as a temporary storage area for order by or group by operations, as well as for index-creation functions.
    14·1 answer
  • Benjamin is an engineer with the Lego Group in Bellund, Denmark, manufacturers of Lego toy construction blocks. He is responsibl
    11·1 answer
  • The profit margin on an item the company sells can best be defined as:
    13·1 answer
  • The situations presented here are independent of each other.
    10·1 answer
  • Suppose the central bank in your country has stability of the GDP growth rate as its primary goal. Faced with a choice of having
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!