Ask Question
11 September, 01:11

You are a single person with no dependents, earning a salary of $47,810. You have no adjustments to your income. Use the information provided to find your taxable income. Use this equation:taxable income = gross income - (adjustments + deductions + exemptions) Then find your tax liability. Explain how you found your answer.

+1
Answers (1)
  1. 11 September, 01:18
    0
    The taxable income for that person is $47,810 and the tax liability can be found by multiplying the taxable income by the tax rate. The person does not have any adjustment to his/her salary, therefore all of his salary amounts becomes the taxable income. The tax liability can be found by multiplying the $47,810 with a specific tax rate.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “You are a single person with no dependents, earning a salary of $47,810. You have no adjustments to your income. Use the information ...” 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