Ask Question
BusinessBusiness
15 September, 17:14

Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes for the year 2015? Round to the nearest dollar.

+3
Answers (1)
  1. 15 September, 17:52
    0
    Josh's taxes for the year 2015 are $16481.25.

    Explanation:

    tax rates are 10%, 15% and 25%.

    Josh's taxes = 10%*9075 + 15% * (36900-9075) + 25% * (82500-36900)

    = $907.5 + $4173.75 + $11400

    = $16481.25

    Therefore, Josh's taxes for the year 2015 are $16481.25.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
If you can obtain bank financing at 6.81% APR (monthly compounding), what would be the implied monthly loan payments?
Answers (1)
Salespeople at Janie's Cookie Company want to draw the attention of their customers through blogs, Twitter, and LinkedIn, rather than using moretraditional activities that require making a sales call.
Answers (1)
If a company decreases the variable expense per unit while increasing the total fixed expenses, the total expense line relative to its previous position will: Multiple Choice shift downward and have a steeper slope.
Answers (1)
If the domestic value added before an import tariff for a product is $500 and the domestic value added after the tariff is $550, the effective rate of protection is
Answers (1)
An invoice dated 4/18/XX received by Ralph's Supply indicated a balance of $7,000. This balance included a freight charge of $500. Terms of the bill were 4/10, 3/30, n/60. Assuming Ralph pays off the bill on April 30, he pays:
Answers (1)
New Questions in Business
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another?
Answers (1)
Taylor product inc. distributed 100 million coupons in 2016. the coupons are redeemable for 30 cents each. taylor anticipates that 70% of the coupons will be redeemed. the coupons expire on december 31, 2017.
Answers (1)
What is a goal of federal minimum wage who benefits from it?
Answers (1)
ABC Hotels, Inc. has signed a service outsourcing contract with XYZ Rooms, Inc. for $5 million, which was received in cash at contract inception.
Answers (1)
As the level of activity increases, how will a mixed cost in total and per unit behave? In Total Per Unit A) Increase Decrease B) Increase Increase C) Increase No effect D) Decrease Increase E) Decrease No effect
Answers (1)
Home » Business » Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes for the year 2015? Round to the nearest dollar.
Sign Up Forgot Password?