When filing 2015 federal income taxes as a single filer, you paid 10% on the first $9,225 earned, and 15% on moneys earned between $9,226–$37,450. If a person filing their taxes as a single filer earned a total of $36,500 in 2015, What is the effective tax rate on the taxes you calculated in #17? Make sure to include your work along with your answer, and round your answer to the nearest hundredth of a percent if necessary
When filing 2015 federal income taxes as a single filer, you paid 10% on the first $9,225 earned, and 15% on moneys earned between $9,226–$37,450. If a person filing their taxes as a single filer earned a total of $36,500 in 2015, What is the effective tax rate on the taxes you calculated in #17? Make sure to include your work along with your answer, and round your answer to the nearest hundredth of a percent if necessary
Chapter2: Income Tax Concepts
Section: Chapter Questions
Problem 35P
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Question
When filing 2015 federal income taxes as a single filer, you paid 10% on the first $9,225 earned, and 15% on moneys earned between $9,226–$37,450. If a person filing their taxes as a single filer earned a total of $36,500 in 2015, What is the effective tax rate on the taxes you calculated in #17? Make sure to include your work along with your answer, and round your answer to the nearest hundredth of a percent if necessary
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Effective tax rate: It implies to the tax charges that is to be paid by a taxpayer for a tax period, as a percentage of his taxable income.
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT