Federal Income Tax Math Problem?
Federal Income Tax Math Problem?
Andrew Buckner earns $1,680 per week. He is married and claims three exemptions. What
is Andrew’s Federal Income Tax? Use percentage method.
A. $1680 C. $166.15
B. $197.12 D. $123.86
I got the answer but, I guessed on it and do not know how to get the answer any one know how to do this?. I got B for this problem so I hope I can get some help.
Comments
despite the fact that, i does not prefer it replaced with an yet another complicated tax equipment like the "honest Tax". That equipment might upload one extra 30% revenues tax onto each merchandise offered. In jurisdictions that have already got a tax, it would recommend a revenues tax fee as much as 40%. in the various places that have a revenues tax, this is merely as confusing to understand simply by fact the earnings tax, with arcane regulations and exemptions. It demands many of overhead to manage and one extra federal layer might purely make it extra complicated. and a few states don't have a revenues tax, so it would require them to create an entire new paperwork to collect the tax. a extra advantageous equipment may well be a economic company Transaction Tax the place each deposit and withdrawal might have a tiny quantity taken off the actual. simply by massive huge kind and length of transactions, purely a small quantity (decrease than one p.c.) might prefer to be taken. the technique must be thoroughly computerized (that's what banks do, in spite of everything) and it would look like an interest cost or ATM fee on your account. The banks ought to furnish the tax receipts by using the Federal Reserve equipment this is already in place. If politicians needed to exempt specific products from the tax (like abode purchases), it must be definitely carried out by using including an exemption code on each and each deposit slip and consider. common. one among those tax might immediately contain all retail revenues simply by fact the revenues receipts might eventual get deposited into the economic company. it would additionally be certainly present day simply by fact unfavourable people use funds and countless times don't have economic company money owed so as that they does not pay. and as the proportion is so small, fewer people might hardship to attempt to stay away from the tax.
What country is this tax based in?