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marishachu [46]
1 year ago
13

Tim Tradesman estimates his taxable income will be $7,500. He is paid every two weeks or 26 times a year.

Mathematics
2 answers:
alisha [4.7K]1 year ago
8 0
Given:
Taxable income: 7,500
Paid every two weeks or 26 weeks in a year

Based on 2007 Federal Income Tax Table for Single Taxpayer, Tim is under the tax range over $0 but not over $7,825. The tax is 10% of the amount over $0.

<span>1. Finds the tax rate for his income level =10 %

2. Enters the base amount = $7,500

3. Enters the amount of tax owed = $7,500 * 10% = $750

4. Divides by 26 = $750 / 26 = $28.85 tax withheld from biweekly wages.</span>
iren2701 [21]1 year ago
7 0

Answer:

1. Find the tax rate of his income level. = 10%

2. Enters the base amount. = $0

3. Enters the amount of tax owed. = $750

4. Divides by 26 = $28.85

Step-by-step explanation:

First guy was right except #2, the base amount for his tax bracket is $0 not $7,500

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