Calculating Sales and Income Tax practice and problem Solving part B. Rebecca's gross income is $101,640. She takes the following deductions: charity: $4000 mortgage interest: $12,200 property tax: $4090 What is rebecca's taxable income? How much is rebecca's income tax for year? rebecca's employer withheld $18010. How much more does rebecca owe? The tax for her income is 28%

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Selena Sims

Mathematics

20 August, 14:17

Calculating Sales and Income Tax practice and problem Solving part B. Rebecca's gross income is $101,640. She takes the following deductions: charity: $4000 mortgage interest: $12,200 property tax: $4090 What is rebecca's taxable income? How much is rebecca's income tax for year? rebecca's employer withheld $18010. How much more does rebecca owe? The tax for her income is 28%

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Ismael Shelton · Answer 1

Answer: Rebecca still owes $4,768.

First, let's start with her gross income of $101,640 and subtract the deductions.

101640 - 4000 - 12200 - 4090 = 81350

This is the amount of her taxable income. Now, let's multiply by her rate of 0.28 to find her tax.

0.28 x 81350 = 22778

She has to pay $22,778 in taxes, but only $18,010 was withheld. Subtract to find the remaining amount.

22778 - 18010 = 4768