Earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. what is the amount of josh’s ta

Question

Earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. what is the amount of josh’s taxes for the year 2015? round to the nearest dollar.

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Sigridomena 1 week 2023-01-24T08:32:52+00:00 1 Answer 0 views 0

Answer ( 1 )

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    2023-01-24T08:34:47+00:00
    The amount of josh’s taxes for the year 2015 is $16482 (round to the nearest dollar).

    What is tax returns?

    The goal of a tax return are straightforward: It is a set of paperwork which must fill out to demonstrate to the government what more money you made and how much tax you have already paid for the year.
    • With all of this details, both IRS and your state’s taxing agencies can decide whether you paid enough taxes for the year or if your owe the government extra money.
    • These organizations will also examine your tax returns as assess if you are due a refund.
    Now, according to the question;
    tax rates are 10%, 15% and 25%.
    Josh’s taxes = 10%×9075 + 15%×(36900-9075) + 25%×(82500-36900)
                        = $907.5 + $4173.75 + $11400
    Josh’s taxes = $16481.25
    Therefore, The amount of josh’s taxes for the year 2015  (round to the nearest dollar) is $16482.
    To know more about tax returns, here
    #SPJ4

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