The income ranges as inequalities in the table:

If Taxable Income Is Over But Not Over Tax Rate Is

$0 $9325 10%

$9325 $37950 15%

$37950 $91900 25%

$91900 $191650 28%

$191650 $416700 33%

$416700 $418400 35%

$418400 No Limit 39.6%

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Chapter 2.4, Problem 54E

Chapter 2.4, Problem 56E

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Federal Income tax owed by a married couple filing jointly can be found from the following table. Married Filing Jointly Taxable Income $0-$18,550 $18,551-$75,300 $75,301-$151,900 $151,901-$231,450 T(x) = $231,451-$413,350 $413,351-$466,950 $466,951 or more 10% if Tax Rate $1,855 plus 15% of the amount over $18,550 $10,367.50 plus 25% of the amount over $75,300 $29,517.50 plus 28% of the amount over $151,900 $51,791.50 plus 33% of the amount over $231,450 $111,818.50 plus 35% of the amount over $413,350 (a) For incomes up to $151,900, write the piecewise defined function T with input x that models the federal tax dollars due as a function of x, the taxable income dollars earned $130,578.50 plus 39.6% of the amount over $466,950 0 < x≤ 18,550 if 18,550 < x≤ 75,300 (b) Use the function to find T(40,000). $ if 75,300 < x≤ 151,900 (c) Find the tax due on a taxable income of $100,000. $ (d) A friend tells Jack Waddell not to earn any money over $75,300 because it will raise his tax rate to…

Sara has an annual income of $70,000. Using the tax table If taxable But not income The tax is: over-- is over-- $0 $16,750 10% of the amount over $0 $16,750 $68,000 $1,675.00 plus 15% of the amount over 16,750 $9,362.50 plus 25% of the amount $68,000 $137,300 over 68,000 $26,687.50 plus 28% of the amount $137,300 $209,250 over 137,300 $46,833.50 plus 33% of the amount $209,250 $373,650 over 209,250 $101,085.50 plus 35% of the $373,650 no limit amount over 373,650 1. Calculate how much money she pays in taxes. 2. Calculate how much she saves in taxes by putting $150/month into this account (which means the money is deducted from income before taxes are calculated). 3. If Sara was the same employee from the previous question, is the flexible spending plan worth it for her? Why or why not?

Workers in the U.S. pay several types of taxes on income, including federal income tax. The federal income tax rate is based on the amount of money a worker makes. Income is broken into levels called tax brackets. The table below shows the tax brackets for a single taxpayer in 2019. Tax Brackets for 2022 Taxable income Tax $0 to $10,275 $10,275 to $41,775 $41,775 to $89,075 $89,075 to $170,050 $170,050 to $215,950 $215,950 to $539,900 $539,900 or more 4 Calculate the income tax for a single person earning $25,000 of taxable income. Make sure you write down any work, calculations, or reasoning that you used to get 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647.50 plus 32% of the excess over $170,050 $49,335.50 plus 35% of the excess over $215,950 $162,718 plus 37% of the excess over $539,900

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If Taxable Income Is Over	But Not Over	Tax Rate Is
$0	$9325	10%
$9325	$37950	15%
$37950	$91900	25%
$91900	$191650	28%
$191650	$416700	33%
$416700	$418400	35%
$418400	No Limit	39.6%

The income ranges as inequalities in the table: If Taxable Income Is Over But Not Over Tax Rate Is $0 $9325 10% $9325 $37950 15% $37950 $91900 25% $91900 $191650 28% $191650 $416700 33% $416700 $418400 35% $418400 No Limit 39.6%

Solution Summary: The author explains the income ranges as inequalities in the table: if taxable income is over but not over, the tax rate is 10%.

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The income ranges as inequalities in the table: If Taxable Income Is Over But Not Over Tax Rate Is $0 $9325 10% $9325 $37950 15% $37950 $91900 25% $91900 $191650 28% $191650 $416700 33% $416700 $418400 35% $418400 No Limit 39.6%

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Chapter 2 Solutions

The income ranges as inequalities in the table:

If Taxable Income Is Over But Not Over Tax Rate Is

$0 $9325 10%

$9325 $37950 15%

$37950 $91900 25%

$91900 $191650 28%

$191650 $416700 33%

$416700 $418400 35%

$418400 No Limit 39.6%