Compute the average tax rate

Assignment Help Finance Basics

Reference no: EM131011203

The Coolidge family had taxable income of $165,000 in 2006. They live in a state in which income over $100,000 is taxed at 11%. What was their total effective (marginal) tax rate?

Use the following tax brackets for taxable income:

Bracket	Tax Rate
$0-$10,000	15%
$10,000-$50,000	25%
$50,000-$250,000	30%
Over $250,000	35%

Compute the average tax rate for the following taxable income amounts:

a. $20,000

b. $125,000

c. $350,000

d. $1,000,000

Reference no: EM131011203

Questions Cloud

List expense accounts related to payroll : List three expense accounts related to payroll. Describe when you would expect the account to be cleared to zero. Explain the methods you could use to reconcile these accounts.

Differences between scientific research reports : Aims: The aim of this assignment is to draw your attention to the differences between scientific research reports and media focussed outputs. You will practice skills in critical evaluation and conduct an effective literature search for relevant ar..

The portfolios new beta be after these transactions : Portfolio Beta You have a $2 million portfolio consisting of a $100,000 investment in each of 20 different stocks. The portfolio has a beta of 0.75. You are considering selling $100,000 worth of one stock with a beta of 0.8 and using the proceeds to ..

Estimate the average value of f : Use the Midpoint Rule with m = n = 2 to estimate the value of the following. ∫∫R f(x, y) dA. Estimate the average value of f.

Compute the average tax rate : Compute the average tax rate for the following taxable income amounts:

State the overall mobile device integration problem : Remember to state the overall mobile device integration problem, and articulate the current risks. Then, explain what incorporating mobile devices into the corporate data network would entail and how it would benefit the overall business.

Increase net cash from operations on the cash flow statement : Currently product Aft is charged $850,667 depreciation on the Income Statement of Andrews. Andrews is making plant improvements to Aft and depreciation charges will increase to 965,330. Decrease Net Cash from Operations on the Cash Flow Statement. In..

Publicly traded on the stock exchanges : Research a Company that is publicly traded on the US stock exchanges (NASDAQ, AMEX, NYSE). Find the ticker symbol, describe the industry and business the company is in, find the 10k statements.

Enhance the information technology environment : Risk Mitigation Strategies that can be used to enhance the Information Technology environment including the corporate network

User Account

All Pages