Ask Question
BusinessBusiness
7 January, 07:49

Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes for the year 2015? Round to the nearest dollar.

+5
Answers (1)
  1. 7 January, 08:08
    0
    Josh's taxes for the year 2015 are $16481.25.

    Explanation:

    tax rates are 10%, 15% and 25%.

    Josh's taxes = 10%*9075 + 15% * (36900-9075) + 25% * (82500-36900)

    = $907.5 + $4173.75 + $11400

    = $16481.25

    Therefore, Josh's taxes for the year 2015 are $16481.25.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A company that uses the perpetual inventory system purchases inventory for $64,000 on account, with terms of 2/10, n/30.
Answers (1)
Imagine that your goal is to retire 34 years from today with / $1,000,000$1,000,000 in savings. Assuming that you currently (i. e.
Answers (1)
When estimating the cost of equity by use of the CAPM, three potential problems are (1) whether to use long-term or short-term rates for rRF, (2) whether or not the historical beta is the beta that investors use when evaluating the stock, and (3)
Answers (1)
In what two situations can the government declare a state of emergency
Answers (2)
What is one way in which bonds do not generate income for investors
Answers (1)
New Questions in Business
Cecile is an avid cook and enjoys spending time in the kitchen as well as watching shows on the Food Network. She recently remodeled her kitchen and purchased new appliances.
Answers (1)
Selected t-account balances for bloomfield company are shown below as of january 31, which reflect its accounting adjustments. the firm uses a calendar-year accounting period, but prepares monthly accounting adjustments.
Answers (1)
Niles and Marsha adopted an infant boy (a U. S. citizen). They paid $17,500 in 2016 for adoption-related expenses. The adoption was finalized in early 2017. Marsha received $3,600 of employer-provided adoption benefits.
Answers (1)
Explain briefly why professional certification and membership in professional organizations are important.
Answers (1)
Suppose that Omar's marginal utility for each additional cup of coffee is 5.5 utils per cup no matter how many cups he drinks.
Answers (1)
Home » Business » Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes for the year 2015? Round to the nearest dollar.
Sign Up Forgot Password?