Formula for a taxpayer with taxable income

Reference no: EM13766660

Another client, Ms. Dunham, has asked you to help her understand how her tax is computed. You need to provide Ms. Dunham with the following:

An example of how to calculate the tax liability using the tax rate table and the tax rate formula for a taxpayer with taxable income of $55,000, filing status married filing jointly.
An explanation of the marginal tax rate and average tax rates for this tax payer.

Be clear in our elaboration s that Ms. Dunham, a person with no business or tax background, can understand.

Reference no: EM13766660

Questions Cloud

Analyze one company financial position : From the e-Activity, analyze one company's financial position and determine whether or not the stock potential will rise, remain stable, or decrease in value. Determine whether you would invest in it or not at this time. Provide a rationale for yo..

Create valle products accdb database file : Create a new table named Orders using the table design below. You may create your table in design view or datasheet view. Save the Orders table as Orders Your Name. Define a one-to-many relationship between the Customer table and Orders table. Ri..

Nvestigation of the performance of the new orleans flood : Read "Investigation of the Performance of the New Orleans Flood Protection Systems in Hurricane Katrina on August 29, 2005."

Human resources related problems : Ratification means that the union and management now have a negotiated labor-management contract that both sides have signed.

Formula for a taxpayer with taxable income : An example of how to calculate the tax liability using the tax rate table and the tax rate formula for a taxpayer with taxable income of $55,000, filing status married filing jointly.

Public safety and emergency management perspective : Choose the most relevant entities or individual experts you can, and think about everything from a public safety and emergency management perspective

Four basic financial statements : What are the four basic financial statements? Describe the balance sheet, and explain why it is important.

What victory-and failure-say about a person and their quest : What does victory-and failure-say about a person and their quest? Technically Gilgamesh failed and Odysseus succeeded. Do we think of them differently because of this?

Develop a plan that deals with uncertainty and mitigation : Develop a plan that deals with uncertainty, mitigation and ultimately the preparedness of a community faced with an active school shooting

User Account

All Pages