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Subject:
Basic Business Application
Category: Business and Money Asked by: deedee33-ga List Price: $2.00 |
Posted:
24 Oct 2005 10:22 PDT
Expires: 23 Nov 2005 09:22 PST Question ID: 584228 |
Let's say someone gets a raise which increases his or her earnings enough to definitely move him or her into a higher tax bracket. Will the entire salary be taxed at the new higher rate? Give an example to justify your answer. To put your example together, use the percentage chart method. Assume no other deductions. Choose one tax bracket to calculate the taxes. For the second part of your example, add enough to the pay to force going into the next tax bracket. |
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There is no answer at this time. |
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Subject:
Re: Basic Business Application
From: vballguy-ga on 24 Oct 2005 11:24 PDT |
I think this question is mis-classified - it probably needs to be in homework/test questions..... |
Subject:
Re: Basic Business Application
From: noledge-ga on 24 Oct 2005 15:15 PDT |
Only the amount that is into the next tax bracket is taxed at the higher marginal tax rate. |
Subject:
Re: Basic Business Application
From: deedee33-ga on 24 Oct 2005 16:11 PDT |
Is it possible to give an example. It would be much appreciated for clarification. |
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