If the tax rates are 15% on the first $50,000 of taxable income, and 20% on the next $25,000, and 25% on the next $25,000, what is the tax liability for an individual with $80,000 of taxable income, what is the marginal tax rate, and what is the average tax rate ? a. $10,250, 15%, and 20% b. $25,122, 22%, and 16% c. $11,345, 15%, and 34% d. $13,750, 25%, and 17.19%

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A: Calculation: Formula snip:

Q: How much tax is Bison Co.'s tax expense, if it has $365,000 in gross income realized, $10,000…

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Q: The Smith household's annual income is $250,000. Based on the U.S. federal tax rates below,…

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Q: Ms. Delta has a P800,000 net taxable income, what is her tax rate? A. 20% of the excess over…

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Q: What would be the effective marginal tax rate on your last dollar of​ earnings?

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Q: What is the amount of Taxes Owed for the period if the tax rate is 30%, if Earnings Before Taxes (…

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Q: 1. Consider the 2020 information for a single taxpayer without children: Situation A Situation B…

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Q: How much must Deon pay in income tax for last year?

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Q: Based on the withholding tax table above solve the following problems: I am receiving monthly…

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Q: t. Calculate your annual tax. Calculate the extra tax that you would pay per year if your annual…

A: Information Provided: Taxable income = $100,000 MTR = 50% ATR = 35%

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.