Explanation Given Information: The person H the tax liability is $3,229, tax credits is $750 and other taxes is $0 and payments are $3,130. Formula used: The formulas used for the calculation are listed below: The total tax is calculated by the formula given below: Total tax = tax liability − tax credits + other taxes To check the amount is tax refund or tax owed. It is needed to see the difference between total payments and total tax. If the tax payments are greater than total taxes, the difference is tax refund and if the tax payments are less than total taxes, the difference is tax owed. Calculation: Taxable income is defined as the income to which tax rates are functional in order to discover the total amount of tax payable for the year. Tax credits are the amount of dollar subtracted from the tax liability. The followings steps are used to calculate Step 1: The total tax is calculated by the formula given below: So, Total tax = tax liability − tax credits + other taxes

Contemporary Mathematics for Business & Consumers

8th Edition

ISBN: 9781305886803

Author: Brechner

Publisher: Cengage

See similar textbooks

Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…

Videos

Question

Chapter 18.III, Problem 22RE

To determine

To calculate: The amount of tax refund or tax owed of person H if the tax liability is $3,229, tax credits is $750 and other taxes is $0 and payments are $3,130.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 18.III, Problem 21RE

Chapter 18.III, Problem 23RE

Students have asked these similar questions

(2) (22 points) Let F(x, y, z) = (x sin y, cos y, ―xy). (a) (2 points) Calculate V. F. (b) (6 points) Given a vector field is everywhere defined with V G₁(x, y, z) = * G2(x, y, z) = − G3(x, y, z) = 0. 0 0 F(x, y, z) = (F₁(x, y, z), F₂(x, y, z), F(x, y, z)) that F = 0, let G = (G1, G2, G3) where F₂(x, y, y, t) dt - √ F³(x, t, 0) dt, * F1(x, y, t) dt, t) dt - √ F Calculate G for the vector field F(x, y, z) = (x sin y, cos y, -xy).

5) Solve the triangle. 2 95° 4 B с A) c=3.63, A=59.5°, B = 25.5° C) c = 4.63, A = 59.5°, B = 25.5° A B) c 4.63, A 25.5°, B = 59.5° = = D) c 5.63, A = 25.5°, B = 59.5°

Find zw. Leave your answer in polar form. = လ 3π 2 z = 6 cos 6 cos 37 3π + i sin 2 57 W = 12 cos + i sin 6 6 ༠།ལྦ་

Chapter 18 Solutions

Contemporary Mathematics for Business & Consumers

Ch. 18.I - Use Exhibit 18-1 to determine the amount of sales...Ch. 18.I - Andy Bennett purchased a car for $38,600 at Auto...Ch. 18.I - At the end of a business day, the cash register at...Ch. 18.I - An archery set at The Sports Authority in Mason,...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...Ch. 18.I - Use Exhibit 18-1 to determine the sales tax and...

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.

The amount of tax refund or tax owed of person H if the tax liability is $3,229, tax credits is $750 and other taxes is $0 and payments are $3,130.

Solution Summary: The author calculates the amount of tax refund or tax owed of person H if the tax liability is 3,229, tax credits is 750, and other taxes are 0.

Concept explainers

Videos

To calculate: The amount of tax refund or tax owed of person H if the tax liability is $3,229, tax credits is $750 and other taxes is $0 and payments are $3,130.

Want to see the full answer?

Chapter 18 Solutions