Mr. Joshie, a Filipino citizen and a resident of Baguio City, won P10,000 in a PCSO draw last May 8, 2018. His income tax is
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Mr. Joshie, a Filipino citizen and a resident of Baguio City, won P10,000 in a PCSO draw last May 8, 2018. His income tax is:
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- Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate schedule for year 2023, what is his effective tax rate? ( Use tax rate schedule.) Note: Round your final answer to two decimal places. Multiple Choice 22 percent 13.09 percent 14.98 percent 10.62 percent None of the choices are correct. Don't use any AI. It's strictly prohibited.Marc, a single taxpayer, earns $60,400 in taxable income and $5,040 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate schedule for year 2022, what is his effective tax rate? (Use tax rate schedule.)Jorge and Anita, married taxpayers, earn $155,600 in taxable income and $41,400 in interest from an investment in City of Heflin bonds. Using the U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate? Note: Do not round intermediate calculations. Round your answers to 2 decimal places.
- Chuck, a single taxpayer, earns $79,800 in taxable income and $15,900 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) W Required: a. If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? b. What is his marginal rate if, instead, he had $40,000 of additional deductions? Note: For all requirements, do not round intermediate calculations. Round percentage answers to 2 decimal places. a. Marginal tax rate b. Marginal tax rate % %Wk 4 Problem Coca-Cola’s primary line of business is the making and selling of syrup to bottlers. These bottlers then sell the finished bottles and cans of Coca-Cola to the consumer. Coca Cola measures their sales volume in two ways: (1) gallon shipments of concentrates and syrups and (2) unit cases of finished product (bottles and cans of Coke sold by bottlers). Use the following link https://investors.coca-colacompany.com/ to find the most current annual review for Coca-Cola. INSTRUCTIONS: Answer the following questions. In your opinion, are Coca-Cola’s marketing expenditures a fixed cost, variable cost, or mixed cost? Give justification for your answer. Are sweeteners and packaging a variable cost or fixed cost? What is the impact on the contribution margin of an increase in the per unit cost of sweeteners or packaging? What are the implications for profitability? Which of the two measures cited for measuring volume represents the activity index? Why might Coca-Cola use two…Chuck, a single taxpayer, earns $76,800 in taxable income and $11,900 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) Required: If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? What is his marginal rate if, instead, he had $40,000 of additional deductions?
- During the year, Frank paid the following taxes: Federal Income Tax: $17,000 Social Security Tax: $5,000 State Income Tax: $5,000 Property Tax on Home: $3,500 How much of the above amounts is Frank entitled to deduct? Group of answer choices $3,500. $8,500. $17,000. $30,500.Song earns $100,000 taxable income as an interior designer and is taxed at an average rate of 20 percent (i.e., $20,000 of tax). If congress increases the income tax rate such that Song’s average tax rate increases from 20 percent to 25 percent, how much more income tax will she pay assuming that the income effect is descriptive? What effect will this tax rate change have on the tax base and tax collected?Chuck, a single taxpayer, earns $76,400 in taxable income and $11,500 in Interest from an Investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) Required: a. If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? b. What is his marginal rate if, Instead, he had $40,000 of additional deductions? Note: For all requirements, do not round Intermediate calculations. Round percentage answers to 2 decimal places. a. Marginal tax rate b. Marginal tax rate %6
- Chuck, a single taxpayer, earns $79,800 in taxable income and $15,900 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) Required: If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? What is his marginal rate if, instead, he had $40,000 of additional deductions? Note: For all requirements, do not round intermediate calculations. Round percentage answers to 2 decimal places.Chuck, a single taxpayer, earns $75,200 in taxable income and $10,200 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) Required: If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? What is his marginal rate if, instead, he had $40,000 of additional deductions? Note: For all requirements, do not round intermediate calculations. Round percentage answers to 2 decimal places.in 2018, miranda records net earnings from self-employment of $146,000. she has no other income. determine the amount of miranda's self-employment tax and her for agi income tax deduction. in your computations round all amounts to two decimal places. round your final answers to the nearest dollar. miranda's self-employment tax is $fill in the blank 1 and she has a $fill in the blank 2 deduction for agi.