subject
Business, 11.02.2020 05:03 mickimlvn6128

1) Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (Use the U. S tax rate schedule..) (Do not round intermediate calculations. Round "Federal tax" to 2 decimal places.)

Required:

a) How much federal tax will he owe?

b) What is his average tax rate?

c) What is his effective tax rate?

d)What is his current marginal tax rate?

2) Scot and Vidia, married taxpayers, earn $187,500 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. (Use the U. S. tax rate schedule for married filing jointly). (Do not round intermediate calculations. Round your answer to 2 decimal places.)

a. If Scot and Vidia earn an additional $82,750 of taxable income, what is their marginal tax rate on this income?

b. How would your answer differ if they, instead, had $82,750 of additional deductions?

3)Melinda invests $200,000 in a City of Heflin bond that pays 6 percent interest. Alternatively, Melinda could have invested the $200,000 in a bond recently issued by Surething Inc., that pays 8 percent interest and has risk and other nontax characteristics similar to the City of Heflin bond. Assume Melinda’s marginal tax rate is 25 percent. (Leave no cells blank - be sure to enter "0" wherever required.)

Required:

a) What is her after-tax rate of return for the City of Heflin bond?

b) How much explicit tax does Melinda pay on the City of Heflin bond?

c) How much implicit tax does she pay on the City of Heflin bond?

d) How much explicit tax would she have paid on the Surething Inc. bond?

e) What would have been her after-tax rate of return on the Surething Inc. bond?

4) Given the following tax structure,

Taxpayer Salary Total Tax
Mae $ 10,000 $ 600
Pedro $ 20,000 ???
What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid?

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 22.06.2019 17:50, nayelieangueira
What additional information about the numbers used to compute this ratio might be useful in you assess liquidity? (select all that apply) (a) the maturity schedule of current liabilities (b) the average stock price for the industry (c) the average current ratio for the industry (d) the amount of current assets that is concentrated in relatively illiquid inventories
Answers: 3
image
Business, 22.06.2019 20:30, absports
Identify the level of the literature hierarchy for u. s. gaap to which each item belongs
Answers: 1
image
Business, 22.06.2019 21:00, lathwkuster
Identify whether the statements are true or false by dragging and dropping the appropriate term into the bin provided. long-run economic growth is unlikely to be sustainable because of finite natural resources. in the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. finding alternatives to natural resources will be very important to long-term economic growth. in the modern economy, human and physical capital are generally less important in productivity than natural resources. in the 19th century, countries with the highest per capita gdp were nearly always abundant in minerals and productive farming land.
Answers: 1
image
Business, 22.06.2019 21:30, jefersonzoruajas
Which of the following best explains why online retail companies have an advantage over regular stores? a. their employees make less money because they mostly perform unskilled tasks. b. they are able to keep distribution costs low by negotiating deals with shipping companies. c. their transactions require expensive state-of-the-art technological devices. d. they have a larger number of potential customers because people anywhere can buy from them.
Answers: 1
You know the right answer?
1) Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investm...

Questions in other subjects:

Konu
Mathematics, 03.03.2021 20:00