What will his federal income tax be

Assignment Help Business Economics
Reference no: EM131108577

An unmarried taxpayer with no dependents expects an adjusted gross income of $48,000 in a given year. His non-business deductions are expected to be $3400.

a) What will his federal income tax be?

b) He is considering an additional activity expected to increase his adjusted gross income. If this increase should be $16,000 and there should be no change in non-business deductions or exemptions, what will be the increase in his federal income tax?

Hints: Use Income Tax Rates illustrated in the textbook for the year 2009.

Reference no: EM131108577

Questions Cloud

Theory of liquidity preference and market for real money : Use the theory of liquidity preference and the market for real money balances to illustrate graphically the impact of a decrease in income on the equilibrium interest rate. Be sure to label: i. the axes; ii. the curves; iii. the initial equilibrium v..
Distribution report specifications : This first part of your distribution report should be divided into five sections that shouki be 1000-1500 words (4-6 pages excluding figures) in length If this portion is longer that is fine, except that the gradeis may stop reading soon after 1500 w..
What is the name of the canal : What is the name of the canal that connects the asian continent to the indian sides and the european nations
Does this research have aspects for healthcare prevention : How can this research best be used in a healthcare prevention strategy based on the evidence revealed? To corporate administrators in hopes of providing funds and resources to fully implement. Re-educating staff and teaching the importance
What will his federal income tax be : An unmarried taxpayer with no dependents expects an adjusted gross income of $48,000 in a given year. His non-business deductions are expected to be $3400. What will his federal income tax be?
Prepare all the journal entries necessary at the end of 2010 : Use the information for Rode Inc. given in BE19-13. Assume that it is more likely than not that the entire net operating loss carry forward will not be realized in future years.
Use fundamental analysis to identify undervalued stocks : Musashi and Rina are building their portfolios. Musashi purchases shares in a mutual fund and pays fees to a manager who actively manages the mutual fund's portfolio. He does so because he believes that the manager can identify inexpensive stocks tha..
Describe area of your square using an algebraic expression : Describe the area of your square using an algebraic expression and Include an explanation of Al-Khwarizmi's drawings for x^2 + 8x = 35 and a step-by-step algebraic solution with justification for each step of the equation.
Consistent with the efficient market hypothesis : Which of the following are consistent with the efficient market hypothesis? You should spend several hours a day studying the business section of your local newspaper to determine which stocks to add to your investment portfolio.

Reviews

Write a Review

Business Economics Questions & Answers

  Have the foreign manufacturers used marketing

Think of some foreign products that are marketed in the United States. Have the foreign manufacturers used marketing that is sensitive to U.S. culture? Provide some specific examples.

  What type of inflation occurs if workers ask for higher wage

What type of inflation occurs if workers ask for higher wages and firms must raise product price in order to pay their workers?

  Currency is deposited into a single bank

An economy starts with $10,000 in currency. All of this currency is deposited into a single bank. The required reserve ratio is 20 percent.

  Savers can indirectly provide funds to borrowers

What do we call financial institutions through which savers can indirectly provide funds to borrowers?

  Variable is almost normally distributed

If the variable is almost normally distributed does that mean you use common distribution.

  What policy makers can learn from policy analysis

Discuss your understanding of what policy analysis contains and what policy makers can learn from policy analysis. Provide at least two examples to support your argument

  Twelfth federal reserve district so geographically? large

Why is the Twelfth Federal Reserve district so geographically? large, while the Second Federal Reserve district is so small by? comparison?

  Profit maximization using total cost and total revenue curve

Profit maximization using total cost and total revenue curves Suppose Dmitri runs a small business that manufactures frying pans. Assume that the market for frying pans is a competitive market, and the market price is $20 per frying pan. The followin..

  Charismatic and transformational leadership styles

Organizational leadership - What are Charismatic and transformational leadership styles and how do the different leadership styles affect the organization or business? What are the advantages and disadvantages of each style.

  Two examples of price discrimination

Two examples of price discrimination? and Think about a firm and its investments. Describe different types of capital. Describe the behavior of oligopolistic firm. how does the firm use Game Theory? define and explain the two types of game theory ass..

  Economist from public television program argues

Suppose that an economist from business school argues that government should not try to help an economy in a recession, while another economist from a public television program argues that the government should implement an expansionary fiscal policy..

  Identify the sub game perfect equilibrium of this game

Three players 1,2, and 3, are deciding on how to divide a cake worth $1, using the following procedure: Player 1 first divides the cake into three portions: x,y,and z such that x+y+z=1, x,y,z greater than or equal to 0. Identify the sub game perfect ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd