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 inthis question.Married filing jointly or Married filing separSingleS0-$8,350$8,351-S33,950$33.951-$82,250| $82,251-$171,550||$171,551-$372,950|$372,951+Tax ratequalified widow(er)SO-$16,700$16,701-$67,900S67,901-$137,050$137,051-$208.850$208,851-$372,950$372,951+S0-$8,350SO-$11,950S11,951-$45,500S45,501-$117,450$117,451-$190,20010%$8,351-$33,950$33,951-S68,525S68,526-$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%

Tax with marriage filling jointly can be calculated as follows.

Answered: Use the table to answer the questions.…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Gina has an opportunity to save $260 per month at an APR of 6.35% in a 401K plan through work. She plans to retire in 25 years. The income taxes are at 35% for her. (1) What are Gina's tax savings over the course of her investment? Review your course materials for help with this calculation. (Express your answer rounded correctly to the nearest cent!) 2$ Ikyou haven't answered the question correctly in 3 attempts, you can get a hint. Hint:
2. Mr. John Wick operates books stores and renders services as a professional broker. In 2018, his gross sales amounted to P800,000. In addition to that, he received P300,000 from his services as a broker. Assume that he failed to signify his intention to be taxed at 8% income tax rate on gross sales in his initial Quarterly Income Tax Return, and he incurred the cost of sales and operating expenses amounting to P600,000 and P200,000, respectively. What is the income tax due to John Wick in his quarterly income tax return?
Jeff, a 56 year old professor is subject to a 28% tax rate. He has had a family emergency and must withdraw $5,000 from his IRA to fund it. How much money will he owe the government for this withdrawal?
If you earn $130,0000, what is the marginal tax rate? Taxable income ($) $0-$50,000 Tax (%) 7% 5.84% 6% 05% 5% $50,001-$100,000 $100,001-$200,000 6% 7%
Estate duty is a direct tax True/False
Multiple Choice $4,725.87 TB MC Qu. 10-45 (Static) Sara borrowed... Sara borrowed $5,000 on a 120-day 5% note. Sara paid $500 toward the note on day 40. On day 90, she paid an additional $500. Using the U.S. Rule, her adjusted balance after the first payment is: $4,527.78 $4,725.70 Save & Exit Check my
< A crane rental company has acquired a new heavy-duty crane for $210,000. The company calculates depreciation on this equipment on the basis of number of rentals per year, and the salvage value of the crane at the end of its 9-year life is $20,000 If the crane is rented an average of 101 days per year, what is the depreciation rate per rental? The depreciation is $ per day of rent. (Round to the nearest dollar.) E
(a) A firm increases by 7.2% in the first 6 months and decreases by 9.6% in the second half of year 2. Determine the percentage during the year. (b) The number of trees in the forest at the beginning of this year was 20,000,000 trees, every year 10% of these trees are cut down and 1,750,000 new trees are planted. Calculate how many trees there are in debt at the end of year 2 and explain what will happen to the tree in the long run.
SUB : FINANCE Dnt use chatgpt. please type the solution. Thank You
Economics Blue Tune Saloon had a gross income of $150,000 with $95,000 in expenses and $15,000 in depreciation charges. How much will the Saloon pay in taxes? Do not put $ signs or a comma in answer. Use the new flat tax rate of 21%, which was introduced in 2018 with the Tax Cuts and Jobs Act
Only typed answer Chanveida finds a home listed for $48k. Similar homes in good condition sell for $60k (market value). She pays $35k. Closing costs are $2k, estimated fix-up is $7k, and holding costs are $3k. She ‘flips’ the property after 3 months for $58k. Her closing costs upon sale are 7% of the sell price. Her overall tax rate is 30%. Assume no financing is used and there is no depreciation taken. Determine Chanveida's Net Sell Price. (Do not show a decimal or cents in your answer)
Tyoed plz and Asap thanks

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS