he average U.S. family spends about 16% of its income on housing and 12% on household expenses. If a family’s monthly income is $3,125, how much does it spend on housing and household exp

Q: Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment…

A: Introduction A tax is a governing firm's mandatory charge or another sort of levy placed on a…

Q: The Palestinian income tax system 2020 is as follow:   Annual Income (sheqle) Tax Rate 1 – 30,000…

A: Khalil: Total tax liability = 30000 * 0% + (65000 -30000) * 6% + (150000 - 65000) * 12% + (200000 -…

Q: ella, a non-VAT taxpayer sold to Millie, a VAT taxpayer, his goods for P 50,000. The next day,…

A: Note: The Q Currency is Php hence, we are assuming the Q is from Phillipins. In Philippines VAT…

Q: Alex makes $80,000 per year and pays about 30% of his gross monthly income in federal and state…

A: Federal and state tax are the mandatory deductions from the income. Income left after tax will be…

Q: Use this Personal Allowance Table to calculate State Income Tax. Single $3,000 Married $6,000 Each…

A: Federal Income Tax refers is the first personal income tax on August 5, 1861 imposed by the US…

Q: The following interest income are earned by May during the year: a. Interest income earned from bank…

A: 1.  her income subject to final tax     = 80,000 + 75,000 + 40,000      =  1,95,000 ( C)

Q: Jorge and Anita, married taxpayers, earn $156,400 in taxable income and $41,600 in interest from an…

A: Key Points: 1. Non taxable interest- State, municipal, US possession bond interest . Interest from…

Q: Mr. Holm has Net Income for Tax Purposes of $55,000, all of which is investment income.  He is…

A: The Canada Pension Plan is a government pension plan which provides pension to retirees…

Q: Mr. C, married, is a citizen and resident of the Philippines. He had the following data on income…

A: Individuals and businesses pay income taxes based on their earnings or profits. In most…

Q: Ed and Marta are paid $2,460 after taxes every month. Monthly expenses include ​$834 on housing and​…

A: Savings ratio shows the proportion/ratio of savings to the respective income.

Q: A caterer earns £1375 per month. How much income tax will she pay for the year?

A: Income tax is a type of policy legislative or regulatory on income made by organizations and…

Q: Your adjusted gross income is $9,438. If you are single, how much tax do you owe?

A: Tax is the charge which is to be paid to the government on having the income above the income…

Q: Jorge and Anita, married taxpayers, earn $157,000 in taxable income and $47,000 in interest from an…

A: Marginal tax rate: It is the rate at which assessee 's incremental dollar in taxable earnings is…

Q: Scot and Vidia, married taxpayers, earn $242,000 in taxable income and $5,000 in interest from an…

A: Marginal tax rate It is additional tax payable for  the additional income earned in dollar.

Q: Nancy, a non-VAT taxpayer sold to Kyle, a VAT taxpayer, his goods for P50,000. The next day, Kyle…

A: The VAT rate in Phillipines is 12% for the year 2021.…

Q: Ed and Marta are paid $4,130 after taxes every month. Monthly expenses include ​$1,397 on housing…

A: The monthly savings would be computed by deducting the monthly expenses from the monthly after-tax…

Q: If you are self-employed and earn $260,000, what are your FICA taxes

A: Tax is the charges levied by the central and state government on the net income, sale or capital…

Q: During the year 2021, Ms. kelley, a foreign student from a non-treaty country, attended the…

A: Taxable income:-It is an income that is liable for tax payment as per the slab rate prescribed in…

Q: Check my worl Jorge and Anita, married taxpayers, earn $153,500 in taxable income and $43,500 in…

A: SOLUTION TAX SCHEDULE - TAX RATE  MARRIED FILLING JOINTLY 10% $0-$19900 12% $19901-$81050…

Q: Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 in interest from an…

A: Federal income tax withholding:   The amounts which the employer withheld from employees’ gross pay…

Q: 1)Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 in interest from…

A: a). i). Federal Tax amount = $ 29465.50ii). Average tax rate = 19.64 % (approx)iii). Effective tax…

Q: Martha and Jean are married and have 4-year old twins. Jean is going to school full-time for 9…

A: $900. Jean gets credit for $500, a month of earned income while she attends school for nine months,…

Q: arl’s house payment is $1,270 per month and his car payment is $465 per month. If Carl's take-home…

A: Given Information : Carl's house payment per month = $1,270 Carl's car payment = $465 Carl's…

Q: Suppose Alexa has a weekly paycheck with gross earnings of $1,234.00 and is single with no…

A: Under wage bracket method, federal withholdings are calculated on the basis of number of allowances,…

Q: Ed and Marta are paid $2,440 after taxes every month. Monthly expenses include ​$860 on housing and​…

A: Savings ratio shows the proportion/ratio of savings to the respective income.

Q: Jorge and Anita, married taxpayers, earn $158,000 in taxable income and $42,000 in Interest from an…

A: Interest is non taxable income So the Taxable income is $ 158000 Average tax rate = Total tax…

Q: Edward has $40,000 of income from a country that imposes a 42-percent income tax and $30,000 of…

A: Tax is the liability which has to be paid by the individual and the corporation to the Federal…

Q: What is the amount of dependent care credit for a couple with two children where they spend $5,000…

A: Dependent care credit can be claimed upto $3000 for one dependent and $6000 for two or more…

Q: Mr. C, married, is a citizen and resident of the Philippines. He had the following data on income…

A: The answer is stated below:

Q: Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 in interest from an…

A: The effective tax rate is a % of tax paid to income earned. The average rate of tax is a % of tax…

Q: %

A: Total Earning = Total Expenditure + Savings Expenditures:- 1.Income on Housing = 23% 2.Food…

Q: Samantha makes $28.00 per hour and is paid for a 40 hour work week. She pays 15% federal income tax,…

A:

Q: Joseph graduates from High School and enrolls in college in the Fall. Her parents pay $4,000 for his…

A: American opportunity tax credit The american opportunity tax credit (AOTC) is a reduction that…

Q: Victoria Bassett is from you Claire Wisconsin and she has $61,000 gross income in 2016 what amount…

A: Assuming that Person V is a single filer

Q: rding to the housing recommendations from the book If a family has a gross annual income of $79,400…

A: According to housing recommendations from book there is certain limit on maximum monthly income that…

Q: Louise Mclntyre's monthly gross income is $3,100. Her employer withholds $780 in federal, state, and…

A: Given the following information: Gross income: $3,100 Employer withholds $780 in federal, state,…

Q: Campbell, a single taxpayer, earns $440,000 in taxable income and $4,000 in interest from an…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three subparts…

Q: The child and dependent care tax credit rule is the following: If AGI is below $15,000, 35% of the…

A: Introduction Taxpayers with dependents are allowed credit for expenses for the care of their…

Q: For tax purposes, "gross income" is all the money a person receives in a given year from any source.…

A: In the given Question, the tax rates shown in the table are for For Married Individuals Filing Joint…

Q: Richard has $30,000 of income from a country that imposes a 40-percent income tax and $30,000 of…

A: Net taxable income is to be multiplied with the tax rate to get the foreign tax credit. Formula:…

Q: Jenna paid foreign income tax of $3,194 on foreign income of $15,968. Her worldwide taxable income…

A: Foreign Tax Credit: The foreign tax credit is a tax credit offered by the United States government…

Q: Conchita Martinez will have a monthly interest and principal payment of $1,867.96. Her monthly real…

A: Housing Ratio = [ Total Housing expense / Pre tax income ] * 100   Where total housing expense will…

Q: For tax purposes, "gross income" is all the money a person receives in a given year from any source.…

A: Federal tax is being paid to the US national government and not paid to the state government of the…

Q: Conchita Martinez will have a monthly interest and principal payment of $1,846.74. Her monthly real…

A: Housing ratio = [ Total Housing expense / Pre tax income ] * 100   Where Total Housing expense…

Q: Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment…

A: Given that's Taxable Income = $75000 Interest from Investments = $10000

Q: A person's "safe debt load" is often defined as of a person's after-tax income les expenses. If…

A: Given, Safe debt load = 1/3 * [After tax income - expenses] After tax income = $23,930