Federal income tax rate table

Assignment Help Business Economics

Reference no: EM131810852

Dick DeWolf and his wife have a total taxable income of $60,000 this year and file a joint federal income tax return. If inflation continues for the next 20 years at a 7% annual rate, Dick wonders what their taxable income must be to provide the same purchasing power after taxes. Assuming the federal income tax rate table is unchanged, what must their taxable income be 20 years from now?

Reference no: EM131810852

Questions Cloud

Depreciation of equipment based on original cost : The U.S. tax laws provide for the depreciation of equipment based on original cost. Yet owing to substantial inflation, the replacement cost of equipment

Certificate of deposit : At maturity he will receive his $10,000 back. Tom's marginal income tax rate is 42%. If the inflation rate is 7% per year, find his

Discuss textual interpretations-misunderstandings : Discuss Textual interpretations/misunderstandings. List of tips for writing interview questions. As this interview is for an academic setting.

Determine what montgomery profit or loss be from selling : Determine what Montgomery's profit or loss will be from selling the 7,500 additional units to the exporter

Federal income tax rate table : Assuming the federal income tax rate table is unchanged, what must their taxable income be 20 years from now?

Express that future tuition in today dollars : If the general inflation rate for the economy is 3% per year, express that future tuition in today's dollars.

Calculate the additional money : Calculate the additional money you could spend on your vacation, after taxes, by putting your vacation money ($2500) into a taxable investment

What after-tax rate of return will sam receive : If the property is sold at the end of 5 years for its book value at that time, what after-tax rate of return will Sam receive?

Find the amplifier gain that gives a velocity constant : Find the amplifier gain that gives a velocity constant equal to ?/3 where ? is the natural frequency of the system.

User Account

All Pages