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Each year the internal revenue service adjusts the value of an exemption based on inflation and rounded to the nearest $50 In a recent year if the exemption was worth $3,100 and inflation was 4.7 percent what would be the amount of the exemption for the upcoming tax year?
$3,100 X 1.047 = $3,245.70 rounded to $3,250
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User: what would be the average tax rate for a person who paid taxes of $4,864.14 on a taxable income of $39,870?

User: Each year the internal revenue service adjusts the value of an exemption based on inflation and rounded to the nearest $50 In a recent year if the exemption was worth $3,100 and inflation was 4.7 percent what would be the amount of the exemption for the upcoming tax year?

Weegy: $3,100 X 1.047 = $3,245.70 rounded to $3,250
coolcurtis|Points 150|

User: Using the tax table in Exhibit 4-7 determine the amount of taxes for the following situations a)A head of household with taxable income of $26,210 b) A single person with taxable income of $26,888 c) A married person filling a separate return with taxable income of $26,272

Weegy: a. A head of household with taxable income of $26,210 ($3,934 amount of taxes). b. A single person with taxable income of $26,888 ($4,321 amount of taxes). c. [ A married person filing a separate return with taxable income of $26,272 ($4,679 amount of taxes). ]
Expert answered|bongche|Points 2795|

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Asked 7/31/2012 7:33:13 PM
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Take-home pay is a person's earnings after deductions for taxes and other items. (Points : 2) True False
Weegy: False (More)
Question
All Categories|No Subcategories|Expert Answered
Updated 7/30/2012 10:47:23 PM
1 Answer/Comment
True. Take-home pay is a person's earnings after deductions for taxes and other items.
Added 7/30/2012 10:47:23 PM
Thomas Franklin arrived at the following tax information: gross salary, $46,910 Interest earnings $225 Dividend income $80 One personal exmption $3,650 itemized deductions $7,820 Adjustments to income $1,150 what amount would Thomas report as taxble income
Weegy: 46910 + 225 + 80 - 3650 - 7820 - 1150 = 34595 tax rate = tax paid / income = 4864 / 39870 = 12.2% (More)
Question
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Asked 7/31/2012 7:10:22 PM
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