Use the table to answer the questions. In relation to taxes, Ramone will be filing as married filing jointly. Ramone is making $156,141.00 this year as an employee of Rust-Eze; he has no other income. Do not consider any deductions or expenses in this question. Married filing jointly or Married filing separ Single S0-$8,350 $8,351-S33,950 $33.951-$82,250 | $82,251-$171,550| |$171,551-$372,950| $372,951+ Tax rate qualified widow(er) SO-$16,700 $16,701-$67,900 S67,901-$137,050 $137,051-$208.850 $208,851-$372,950 $372,951+ S0-$8,350 SO-$11,950 S11,951-$45,500 S45,501-$117,450 $117,451-$190,200 10% $8,351-$33,950 $33,951-S68,525 S68,526-$104,425 | 25% 28% 33% 35% S104,426-$186,475 $190,201-S372,950 $186,476+ $372,951+ Use the table to calculate how much money Ramone will owe in taxes under a progressive tax program. Calculate how much money Ramone will owe in taxes under a proportional tax (flat tax) rate of 30%

Q: A corporation has a taxable income of $7,060,373.  At this income level, the federal income rate is…

A: Answer - 1 Below information Given,   A corporation has a taxable income of $7,060,373.    The…

Q: What impact does the market for intangible property such as stocks and bonds have on the market for…

A: The concept behind this question is to explore the interconnected relationship between the markets…

Q: Find Net Value Added at Market Price (i) Depreciation (?) (ii) Output sold (units) 700 (iii) Price…

A: The formula for the net value added at Market price is:- NVAMP = ( Units output sold * Price per…

Q: On December 31, 2021, Annie bought a fitness center with exercise equipment and a building worth…

A: Gross Investment is the sum of a company's expenditures or investments made to purchase capital…

Q: As a part-time college instructor, Kathy im teaches an introductory course on Mexican history. She…

A: Net income is the amount that remains in your account after taxes and other withholdings have been…

Q: Yafa company sells a car at its marked price $ 15000 and charges sales-tax at the rate of 14% from…

A: Selling price= 15000 Sales tax= 14% VAT= 500

Q: Sheryl's Shipping had sales last year of $16.500. The cost of goods sold was $7,800, general and…

A: a. What are earnings before interest and taxes (EBIT)?EBIT is calculated as follows:Therefore EBIT…

Q: 42 years ago the maximum earnings of a worker subject to Social Security tax (SST) was $11,000. The…

A: The objective of the question is to calculate the compound annual growth rate (CAGR) of the maximum…

Q: the following financial information related to XYZ Company. Total Revenues last year $970,…

A: * ANSWER :-    Based on the information related to XYZ Company the calculation of net income is…

Q: A firm has 1.5 million shares of common stock outstanding with a book value of $10 share. The firm…

A: Liability means an obligation that arises from a past business event.

Q: capital gains tax rate

A: Taxes are the amount which are paid to the government. The government regulates tax rates in the…

Q: Which one (1) of the following is NOT the subject of a Statutory Condition in a Property policy?…

A: [Since you have posted multiple questions, we will provide the solution only to the first question…

Q: The Shell Corporation has a 34% tax rate and owns a piece of petroleum-drilling equipment that costs…

A: According to the question, we need to calculate the present worth of cash flow.  Where interest rate…

Q: The Wilsons have a combined annual gross household income of $113,000, and they wish to purchase a…

A: Down payment is an initial payment made when something is bought on credit. The purpose of down…

Q: Determine the firm's 2021 tax liability. Tax liability Determine the firm's 2021 net income. Net…

A: The net income of the firm is the amount of accounting profit from which all the liabilities of the…

Q: Joe and Mary are filing a joint tax return. Their combined taxable income is $130,000. How much do…

A: A tax levied by the government on the income earned by individuals, businesses, or other entities…

Q: A multinational Corporation based in the United States of America has subsidiaries in the UK,…

A: The exchange rates in the international market are defined as the rates at which one currency in the…

Q: The income received by persons from all sources in the form of factor income and current transfer…

A: According to the given question The current transfer payments are the payments which are generally…

Q: Give me propercalculation with explanation otherwise i give downvote Note:- Please avoid using…

A: The objective of the question is to determine whether the statement 'If the marginal tax rate is…

Q: The Shell Corporation has a 34% tax rate and owns a piece of petroleum-drilling equipment that costs…

A: iven information First cost=$119000 Annual revenue=$33100 Salvage value=$31600 CCA rate=30% Tax…

Q: Taxable Income $0-$9,700 $9,701-$39,475 $39,476-$84,200 $84,201-160,725 $160,726-$204,100…

A: it is given that, taxable income and tax rate

Q: Calculate net value if gross is $42,000 and depreciation is $32,000?

A: According to question we are given that Gross =$42,000 depreciation =$32,000 net value has to be…

Q: Which is deductible against gross income? * Imputed interest expense Advances to the profit sharing…

A: When talking about deductibles, it is the amount of money that can be kept aside before taxation.

Q: Calculating Taxable Income Taxable income $0-$9,525 $9,526 - $38,700 $38,701 $82,500 $82,501…

A: Marginal Tax Rate: The marginal tax rate is defined as the change in total tax liability as income…

Q: Find the net value added at factor cost When the net indirect taxes are $60 and the net value added…

A: Basically in the question, Net value added at the factor cost = ? Net indirect taxes = $60 Net value…

Q: Machine that cost $150,000 and on which $120,000 of accumulated depreciation has been recorded was…

A: Given is the following information in the question: Cost of machine = $150000 Accumulate…

Q: ASB is considering leasing a new machine. The lease calls for 9 payments of $1,022 per year with the…

A: Lease is a legal document that includes conditions under which particular property is to be used and…

Q: Calculate Your Taxes To find your net pay, you'll need to first calculate your taxes. Start period…

A: When a person receives his/her income, he/she has to pay a certain number of taxes that include…

Q: Income statements for two companies (A and B) and the income statement for the industry are provided…

A: In this case, we have to find out more competitive company that means we have to find out better…

Q: Total Taxable Income (Dollars) 0 2,000 10,000 20,000 100,000 The tax rates shown in this table are…

A: The taxable income and total tax due are given in the below table-Total Taxable Income…

Q: Leno (married) had the following at the time of his death: What is the net taxable estate?

A: 1.At her death in 2015, Sarah was single (never married). In 2011, Sarah had made a taxable gift…

Q: Slate Corp is a merchandising company that uses the periodic inventory system. Balances Sales…

A: Sales = 500,000 Purchases = 225,000 Inventory (at the beginning of the year)=16,000 Inventory (at…

Q: mr.rahim is planning to pursue MBA studies.initial inquiry shows that he will have to pay RM 25,000…

A: Profits are treated and calculated differently by economists and accounts. While calculating the…

Q: through Work. She plans to retire in 25 years. The income taxes are at 35% for her. (1) What are…

A:

Q: NPBT $100,000: NPAT $70,000: Interest Expense $10,000: Income Tax $30,000: Sales $950,000. Calculate…

A: Given: Net profit before tax(NPBT)=$100,000 Net profit after tax (NPAT)= $70000 Interest expense=…

Q: Danube Company pays Salim a straight commission of 25% on the net sales. In June, Salim had net…

A: Given Salim commission  = 25% of sales Sales = 56000 Draw in may = 678

Q: ACB Corp is a CCPC with $300,000 of taxable income. That amount is made up of $50,000 in non-active…

A: Tax is a charge imposed by the government on the certain income level which is called income tax. So…