Question

Mary Hernandez earned $43,000 in taxable income. She figured her tax from the single taxpayer table above.

Answer 1

Refer the Table in the Given Attachment.

Full Question :-

Mary Hernandez earned $43,000 in taxable income. She figured her tax from the single taxpayer table above.

1. Find her earned income level.

2. Entered the base amount. = $___

3. Found the amount over $___ = $___

4. Multiplied line 3 by 28% = $___

5. Added Lines 2 and 4 = $___

Step-by-step Explanation :-

There are different slab rates for income tax. we have to calculate the income tax for Mary Hernandez. Her income is $43,000.

She comes under the slab rate of 25750-62450.

1) Earned Income = $43000

2) Base Amount = $3862.50 (second line of the given table)

3) The amount over base amount =

=> 43000 - 25750 = $17250.

4) Multiplied by 28% = $17250 x 0.28 = $4830

5) Added Lines 2 and 4

=> $3862.50 + $4830

=> $8692.50

Hence, tax amount due by Mary Hernandez is $8692.50.